Zimbabwe: CBZ CEO Zimunya Retires, Nyazema Takes Over

2 December 2021

CBZ managing director, Peter Zimunya is set to step down as chief executive after a prolonged career spanning over four decades in the banking industry.

In an update, the group legal corporate secretary, Rumbidzayi Jakanani said the top banker will be exiting the institution at year end.

"Zimunya will be retiring as CBZ Bank managing director effective 31 December 2021 after an illustrious career in banking spanning 42 years," she said.

"Peter served his 16 years with Standard Chartered Bank before joining CBZ Bank in 1995 and served his 16 years with Standard Chartered Bank before joining CBZ Bank in 1995 and served for 26 years in various capacities including that of chief operating officer."

She also explained that Zimunya was appointed as managing director in 2012, a position he served to date and was acting group chief executive for CBZ Holdings Limited from May 2018 to June 2019.

"The board and management wish him all the best in his well-deserved retirement," said Jakanani.

Meanwhile, Lawrence Nyazema has been appointed and will be taking over as CBZ Bank managing director effective January 1 2022.

Lawrence joined CBZ Bank as executive director- Wholesale Banking in January 2020.

Prior to that, Lawrence spent 19 years with Barclays Bank now First Capital Bank in various capacities including being Commercial Director from April 2011 to January 2020 when he then joined CBZ Bank.

He also spent 10 years at ZB Financial Holdings.

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