CBZ Bank Appoints Valeta Mthimkhulu as New Managing Director

CBZ Bank Appoints Valeta Mthimkhulu as New Managing Director

CBZ Bank, Zimbabwe’s largest financial institution by deposits and assets, has appointed Valeta Mthimkhulu as its new Managing Director — a move the bank hopes will strengthen its leadership in an increasingly competitive banking sector.

Mthimkhulu takes over at a time when the industry is undergoing rapid change, with digital banking, fintech innovations, and shifting customer expectations pushing banks to adapt. Her arrival signals CBZ’s intent to maintain its edge in both traditional and modern banking services.

She brings with her more than 20 years of banking experience, most recently serving as Director of Retail Banking at ABSA Botswana, where she oversaw operations and championed customer-focused strategies. Before that, she spent 19 years at the former Barclays Zimbabwe, building expertise in retail and corporate banking, and later serving as Regional Head of Corporate Affairs — a role that required strong stakeholder engagement and strategic oversight.

Her appointment follows the departure of Gift Simwaka, who stepped down in March after just six months in the role.

CBZ is no stranger to industry recognition. In 2024, the bank was ranked the most innovative in Zimbabwe and placed second only to First Capital in ESG performance, according to Equity Axis Research.

With a strong track record in driving retail banking growth and innovation, Mthimkhulu is expected to bring fresh ideas to CBZ’s push for financial inclusion and service modernisation. Her leadership experience in both Zimbabwe and Botswana positions her to navigate the country’s challenging yet opportunity-filled financial landscape.

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