Ex-Agribank CE Malaba dies

FORMER Agribank chief executive Somkhosi Malaba died yesterday morning from possible kidney failure.

“He had not been well for some time, suffering from a kidney problem. He passed on at around 6:30am today (yesterday),” a close family member told NewsDay on condition of anonymity.

The Malaba family are currently making preparations to bury the distinguished business executive.

Malaba resigned from Agribank as CE in February this year, 16 years after joining the financial institution from the Reserve Bank of Zimbabwe, where he was deputy governor for six years.

“Hard to accept he is gone. A fellow president at the Bankers Association @ czionline. Instrumental in the Lima Debt conversations in 2015-2017. Served with us on PAC [Presidential Advisory Council]. May the Lord strengthen the family at this time of loss. The memory of you lives!” PAC member Busisa Moyo tweeted on microblogging site Twitter.

Malaba held many positions throughout his career.

He was the vice-chair of the Sadc/ Development Finance Resource Centre board of trustees from 2008 to 2009, Lupane State University council chair since 2007, Institute of Bankers (Zimbabwe) council chair from 2008 to 2014 and Fidelity Printers and Refiners 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 1993 to 1995, Zimbabwe Development Bank board 1988 to 1993 and was the Bankers Association of Zimbabwe president from 2014 to 2016.