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CBZ Holdings has appointed Gift Simwaka as the managing director of its banking unit, CBZ Bank Limited, effective September 1, 2024 and he replaces Lawrence Nyazema who was elevated to the group chief executive officer’s position in April this year.
In a statement, the CBZ board noted that Mr Simwaka was vastly experienced addition to the company, who would add value to the bank.
“The Board of Directors of CBZ Bank Limited is pleased to announce the appointment of Gift Simwaka as Managing Director of CBZ Bank Limited with effect from 1st September 2024
Gift brings diverse experience in originating and structuring trade and project finance transactions in Eastern and Southern Africa, transaction banking, regulatory policy formulation and financial sector wide analysis and oversight”, the statement read.
Mr Simwaka has worked for various financial institutions and has experience spanning more than 26 years.
“He is a seasoned Banker who has over 26 years of progressive financial services experience garnered working for various financial institutions,” said CBZ Bank.
He started his career as an Executive Trainee with Citi Bank Zambia Limited in 1993 and rose through the ranks to Country Head of Financial Institutions Business Portfolio In 1996.
Simwaka started his career as an executive trainee with Citi Bank Zambia Limited in 1993 and rose through the ranks to country head of Financial Institutions Business Portfolio.
In 1996, the banker joined the Central Bank of Zambia and occupied various positions such as bank examiner, senior bank examiner, senior manager (Payment system regulation and oversight), senior manager (Business Continuity), head regulatory policy unit and executive assistant to the governor.
“He briefly worked for the African Trade Insurance Agency as country manager, Zambia, before joining the African Export-Import Bank [Afreximbank] from February 2010 to April 2018 as head of branch and regional manager, Southern Africa. He left Afreximbank to join Faber Capital as an advisor,” Nyazema said
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