CBZ Bank appoints Simwaka as MD

A seasoned banker, Simwaka replaces Lawrence Nyazema who was elevated to the group chief executive officer’s position in April this year.
CBZ Holdings has appointed Gift Simwaka as the managing director of its banking unit, CBZ Bank Limited, effective September 1, 2024.

A seasoned banker, Simwaka replaces Lawrence Nyazema who was elevated to the group chief executive officer’s position in April this year.

In a statement, Nyazema said: “He [Simwaka] 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.He is a seasoned banker with over 26 years of progressive financial services experience garnered working for various financial institutions.”

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.

Simwaka holds a bachelor of Arts Economics degree 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.-newsda