CBZ Bank Limited appoints Gift Simwaka as manging director

Nokuthaba Brita Ncube

CBZ Bank Limited has announced the appointment of Mr Gift Simwaka as the financial institution’s managing director, with effect from 1 September 2024.

Mr Simwaka is replacing Mr Lawrence Nyazema who is now the company’s Chief Executive Officer.

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,” reads the statement.

“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.”
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.
Mr Simwaka 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, Head Regulatory Policy Unit and Executive Assistant to the Governor.
His expertise extended to the insurance industry where he briefly worked for the African Trade Insurance Agency (AT) as Country Manager, Zambia before joining the African Export-Import Bank (Afrexim Bank) from February 2010 to April 2018 as Head of Branch and Regional Manager in Southern Africa.
He later left Afrexim Bank to join Faber Capital as an Advisor.
Mr Simwaka is a holder of Bachelor of Arts, Economics degree obtained from the University of Zambia, MBA [Finance] from California State University, Hayward. Certificate in Applied Statistics, California State University, Hayward and various professional and management qualifications.
Apart from being well equipped in the financial field, he is a keen golfer and an avid reader.

The company congratulated Mr Simwaka and wished him well on his appointment.
“The Board, Management, and Staff of CBZ Bank Limited extend their congratulations to Mr Simwaka on his appointment and wish him success in his new role,” reads the statement.