Agribank CE Malaba retires

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Agribank chief executive officer, Sam Malaba (right)

By Staff Reporter

AGRIBANK chief executive Somkhosi Malaba has retired after nearly 16 years at the helm of the bank.

Malaba, an economist, was appointed Agribank CE in May 2004, a position he held until his departure on January 31, chairman Godfrey Matemachani said in a statement last night.

Prior to his appointment, Malaba had been deputy governor of the Reserve Bank of Zimbabwe for six years, having worked for the central bank for 16 years before the elevation.

Matemachani said Malaba had guided Agribank to achieve turnaround and profitability, as well as pursuit of the mandate for agriculture financing and development.

Malaba is currently a member of the Presidential Advisory Council and is the National Economic Consultative Forum co-chair, steering committee.

He also served two years on secondment to government as head of planning (permanent secretary) in the National Planning Commission in the office of The President and Cabinet between 1996 and 1997.

Malaba was the vice-chair of the Sadc-DFRC board of trustees from 2008 to 2009 and from 2018 to 2021, Lupane State University Council Chair from 2008 to 2019, Institute of Bankers of Zimbabwe Council chair from 2008 to 2014 and Fidelity Printers and Refinery Limited director from 1998 to 2004.

He also sat on the Deposit Protection Scheme board from 1998 to 2004, St Lucia Park board from 2000 to 2004, PTA Bank board from 1998 to 1993 and was the Bankers Association of Zimbabwe president from 2014 to 2016.