Online Reporter
Business Reporter
The Infrastructure Development Bank of Zimbabwe (IDBZ) Board has recommended the appointment Mr Willing Zvirevo as its acting chief executive, subject to approval by the Ministry of Finance, Economic Development and Investment Promotion.
Mr Zvirevo, who currently serves as the bank’s director of resource mobilisation and climate change, steps into the role following the departure of Dr Thomas Zondo Sakala, who has completed his 10-year term.
An official, who spoke on condition of anonymity, said that Mr Zvirevo’s interim appointment is for a six-month period while the board conducts interviews to find a permanent replacement. He has held various middle and senior management roles at reputable firms such as KPMG Corporate Finance, NMB Bank Limited, and Sagit Finance House Limited. He was also a partner at AMG Global Chartered Accountants (Zimbabwe), where he was in charge of corporate finance practice.
Before joining IDBZ, Mr Zvirevo spent seven years in the Cayman Islands, working for the Citco Group, a leading hedge funds administrator, where he gained extensive alternative investments experience. His role as IDBZ’s director of resource mobilisation involved scaling up the bank’s capital base, fostering strategic partnerships, and leading debt issuances, Public-Private Partnerships (PPPs), and climate finance initiatives.
Dr Sakala, a seasoned development banker, assumed the CEO role at IDBZ in September 2015, succeeding Mr Charles Chikaura. His appointment marked a significant return to Zimbabwe after a distinguished 31-year career at the African Development Bank (AfDB).
At the AfDB, Dr Sakala served in several high-profile roles, including vice president for country and regional programmes. In this capacity, he oversaw dialogue and the preparation of country and regional strategies across the African continent. His career at the AfDB also included roles such as resident representative in Nigeria and director of programming, budget, and strategy.
After leaving the AfDB in 2014, he ran for the bank’s presidency, a contest that was ultimately won by Dr Akinwumi Adesina. He also served on Zimbabwe’s Presidential Advisory Committee.
