Former Reserve Bank Of Zimbabwe Deputy Governor Malaba Dies

Former Deputy Governor of the Reserve Bank of Zimbabwe (RBZ) and former Agribank Chief Executive Officer Somkhosi Malaba has died aged 65.

Reports suggest that Malaba succumbed to kidney failure at his home this morning. A source close to him who spoke on condition of anonymity since they had not been cleared by the family. The source told The Herald:

A great tree has fallen. A great man, genuinely devoted to his country and his profession, Mr Malaba was a unique leader and accomplished economist. As Agribank CEO, he led the bank’s turnaround initiatives, achieving profitability in 2016. Agribank will be poorer without him, the nation will be poorer without him.

Confederation of Zimbabwe Industries (CZI) president and United Refineries Limited CEO Mr Busisa Moyo posted on Twitter expressing shock over Malaba’s death.

Malaba retired as Agribank CEO at the end of January this year after 16 years at the helm of the financial institution. He was appointed CEO in May 2004 after serving as the Deputy Governor of the Reserve Bank of Zimbabwe (RBZ) for six years from August 1998 to April 2004.

More: The Herald