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AFC Commercial Bank Limited is a wholly owned subsidiary of AFC Holdings Limited, providing innovative commercial banking solutions that support Agriculture, Commerce, Industry and National Economic Development. The Bank seeks to appoint a visionary, commercially astute and transformational leader to the position of Managing Director to drive sustainable growth, profitability, operational excellence and digital transformation. Reporting functionally to the AFC Commercial Bank Board and operationally to the Group Chief Executive Officer, the incumbent will be responsible for developing and executing business strategy, driving financial performance, strengthening enterprise-wide risk management, leading digital transformation, embedding innovation, overseeing credit quality, ensuring regulatory compliance and building a high-performance culture.
Job Summary
- Type: full-time
- Location: Harare
- Category: Banking & Finance
- Closing Date: 2026-08-30
Key Responsibilities
- Lead the development and execution of the Bank’s strategy and business plans to meet the goals set for growth and profitability.
- Drive sustainable growth and improve profitability through disciplined revenue growth, cost optimisation and productivity improvement.
- Optimise the Bank’s balance sheet, capital, liquidity and funding.
- Lead the Bank’s digital transformation, innovation and drive adoption of AI.
- Develop and implement successful turnaround strategies.
- Monitor the external environmental, regulatory condition, read the market, anticipate change and alert the Group CEO and the Board to these and assess the likely impact of change to the business.
- Strengthen credit quality and ensure a strong risk and governance framework is embedded across the Bank.
- Ensure that opportunities for business development are identified and recommendations made to the Group CEO and the Board as appropriate.
- Ensure full compliance with applicable banking laws, regulations and prudential requirements.
- Promote and conduct the affairs of the Bank with the highest standards of integrity, probity and Corporate Governance.
- Ensure that key positions in the Bank are staffed with the calibre of people who are motivated to meet ongoing challenges.
- Develop and maintain healthy relationships with key stakeholders locally, regionally, and internationally.
Requirements
- A Master’s Degree in Business Administration (MBA), Finance, Banking, Economics, Business Leadership.
- Bachelor’s Degree in Banking, Finance, Economics, Business Administration or a related discipline.
- Relevant professional banking or financial services qualification will be an added advantage.
- At least 15 years experience including a minimum of 8 years at Executive Management level preferably within Commercial Banking or Financial Services.
- Demonstrated success in leading a Commercial Bank or large Financial Institution will be an added advantage.
- Proven experience in business turnaround and organisational transformation.
- Strong understanding of digital banking, financial technology and customer-centric transformation.
- Demonstrable ability to develop long term strategic relationships with key stakeholders.
- Must be business minded, strategic thinker whose integrity is beyond reproach.
How to Apply
If you wish to be considered please submit your application to [email protected] or [email protected]. Confidential enquiries may be directed to our Managing Consultant Emmanuel Jinda on +263 773 004 143, 712 605 025 or +263 (242) 772 778/ 770 035 or to Calistas Bumbira on +263 773 280 689. 7th Floor, Fidelity Life Tower, Raleigh Street, Harare. Closing Date for Applications is Sunday 30 August 2026.
REF Code: PROSERVE-180
About the Company
AFC Commercial Bank operates as a dedicated deposit-taking Commercial Bank within Zimbabwe, playing a vital role in the nation's financial sector. It offers a range of essential banking solutions designed to meet the needs of its diverse clientele. Customers benefit from the widespread acceptance of AFC cards, which are usable at all Zimswitch-enabled ATMs located throughout Zimbabwe. This institution is committed to facilitating accessible and efficient financial transactions, contributing significantly to the economic landscape of the country. The bank's operations underscore its focus on convenience and broad service reach across Zimbabwean communities.
Providing essential deposit-taking commercial banking services across Zimbabwe.
Website: https://www.afcholdings.co.zw/commercial-bank/
Frequently Asked Questions
What qualifications and certifications are typically required for a Managing Director role in Zimbabwean commercial banking?
A minimum of a Bachelor's degree in Finance, Business Administration, or Economics is standard, with most appointees holding an MBA or postgraduate qualification. Professional certifications such as those from the Chartered Institute of Bankers of Zimbabwe (CIBZ) or international bodies like ACIB (Association of Certified International Bankers) are highly valued and often expected for senior leadership roles.
What are the typical day-to-day responsibilities of a Managing Director at a commercial bank in Zimbabwe?
The role involves strategic oversight of operations, regulatory compliance with RBZ directives, financial performance management, and stakeholder engagement with shareholders, regulators, and clients. Daily duties include reviewing credit risk exposures, approving major lending decisions, leading board reporting, and ensuring adherence to local laws such as the Banking Act and Data Protection Act.
How does Zimbabwe’s local work culture influence expectations for a Managing Director in banking?
Respect for hierarchy, strong interpersonal diplomacy, and visible community engagement are deeply embedded expectations — especially given the importance of reputation and trust in Zimbabwe’s relationship-driven business environment. Punctuality, formal communication protocols, and active participation in national economic forums (e.g., ZBF events) are also commonly expected of senior banking executives.
What realistic career progression paths exist after serving as Managing Director of a commercial bank in Zimbabwe?
Many transition into advisory roles with multilateral institutions (e.g., AfDB, World Bank), serve on boards of other listed companies, or take up ambassadorial or public-sector appointments such as RBZ Deputy Governor. Others establish fintech consultancies or join regional banking groups operating across SADC, leveraging their regulatory and operational expertise.
What benefits are typically offered to Managing Directors in Zimbabwean commercial banks?
Standard packages include fully funded medical aid through providers like NSSA or private schemes (e.g., MBCA), pension contributions aligned with the National Pension Scheme, and generous annual leave (often 30+ days). Additional benefits may include housing allowances, company vehicles, and education allowances for dependents — all subject to PAYE and fringe benefits tax under ZIMRA regulations.
How should I apply for a Managing Director position, and what do Zimbabwean employers specifically look for in candidates?
Applications are usually submitted via formal board-level search processes, often through executive search firms or direct nominations by shareholders — not open online portals. Employers prioritise proven track records in RBZ-compliant governance, experience managing NPLs in volatile macroeconomic conditions, and demonstrable success in growing market share within Zimbabwe’s competitive banking sector.