Online Reporter
Senior Business Writer
CBZ Holdings has announced a series of top managerial changes, including the departure of Managing Director and Group Chief Finance Officer.
In a statement, the financial services group revealed that Mr Gift Simwaka, the former Managing Director, has left the company to pursue other opportunities.
“Gift has been an integral part of the leadership team, guiding the company through its milestones and contributing to the company’s continued success,” the statement read.
The company reiterated its commitment to maintaining strategic continuity during the transition.
To ensure stability, Mr Norman Mhondiwa, the Chief Finance Officer, has been appointed Acting Managing Director, effective from 1 March 2025.
“The company has full confidence in the expertise that Norman brings as he leads the company through this period,” the statement read.
Additionally, CBZ Holdings announced the retirement of Mr Tawanda Lloyd Gumbo, who served as Group Chief Finance Officer for five years. Mr Gumbo retired on 28 February 2025.
With over 20 years of experience in regional and international auditing firms and financial services organisations, Mr Gumbo played a pivotal role in driving the company’s growth strategy and transformation. He was widely recognised for his distinguished service.
The company also appointed Mr Joel Makombe as the new Group Chief Finance Officer and as an Executive Director of the Board, effective 1 March 2025.
“Joel is an accomplished finance professional, with vast experience in financial leadership and business partnering. He has more than 20 years’ experience within the financial services industry, spanning banking, insurance, and asset management, in which he has held senior managerial and executive finance roles.”
Before his new role, Mr Makombe was the Divisional Director of Group Finance at CBZ Holdings Limited for five years.
He is a qualified Chartered Accountant and holds memberships with the Institute of Chartered Accountants of Zimbabwe (ICAZ), the Institute of Chartered Accountants in England and Wales (ICAEW), and the Association of Chartered Certified Accountants (FCCA).
Mr Makombe earned a Bachelor of Accountancy Honours degree from the University of Zimbabwe in 2001. He also holds a Master of Business Administration (MBA) from Oxford Brookes University and an MSc in Professional Accountancy from the University of London.
His qualifications include postgraduate diplomas in Project Management (PRINCE2), Business and Finance Professional (BFP) from ICAEW, and Bank Credit Management from Damelin. He is also a Fellow member of the Institute of Bankers of Zimbabwe (FIBZ) and holds a Certificate of Proficiency from the Institute of Insurance, Zimbabwe.
