Ex-RBZ deputy governor appointed CBZ chair

HARARE - Former Reserve Bank of Zimbabwe (RBZ) deputy governor, Richard Wilde, has been appointed new chairperson of CBZ Holdings Limited (CBZ).

He takes over from businessman Luxon Zembe who resigned this month after a five-year tenure.

Wilde — who served the central bank for 10 years until 1996 — has been the chairperson of CBZ’s flagship subsidiary, CBZ Bank, since 1998 while he was also a non-executive director on the holding company’s board since 2012.

In his career, he has served on various boards including the then Zimbabwe Investment Centre, Astra Corporation, Zimbabwe Revenue Authority and Tractive Power Holdings Limited.

Wilde holds, among other qualifications, a Bachelor of Arts in Economics and Psychology and an Honours Degree in Economics from Rhodes University.

From 1968 he lectured in Economics at the Harare Polytechnic before joining First Merchant Bank where he was appointed chief economist.

In 1978 he joined the central bank as chief economist and in 1986 was appointed deputy governor of the apex bank with responsibility among other areas for research and banking supervision.

Wilde is a fellow of the Institute of Bankers of Zimbabwe and before joining Techfin Research was a consultant to the Macro Economic and Financial Management Institute (MEFMI) — an inter-governmental initiative supported by the donor community dedicated to regional capacity building.

Meanwhile, Zembe, who was recently relieved of his duties as chairperson of the embattled Premier Service Medical Aid Society (Psmas), said he leaves CBZ — the country’s largest financial institution by asset base — “a happy man”.

“Having served the maximum term of office for chairmanship in accordance with CBZ Board Charter, I have made a free conscience judgement call to retire from the Board of CBZ Holdings and CBZ Bank to focus on my company and consultancy work as a champion of anti-corruption crusade, rule of law and corporate governance,” he said.

“I retire with a sense of national pride because I am passing on the baton of a sound, solid, well managed and high performing financial institution that has served the nation with integrity, loyalty and distinction,” added Zembe.

The former Zimbabwe National Chamber of Commerce president said under his supervision CBZ over the past five years grew to be a force to reckon with, and consistently maintained its pole position in the financial sector.

“I firmly believe that a good leader does not over stay, as doing so erodes the value and legacy of their contribution. I have chaired several reputable organisations and left a good track record with an open book life style, and I am happy to repeat the same legacy with CBZ,” he said.Richard Wilde, new chairperson of CBZ Holdings Limited (CBZ).

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