Zambian commercial bank Cavmont Capital has announced the appointment of Christiaan Petrus De Vries to its effective 5th November 2019, according to a statement from the bank.
“In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Cavmont Capital Holdings Zambia Plc (“the Board”) (“CCHZ” or “the Company”) wishes to announce the appointment of Mr. Christiaan Petrus De Vries as a Non-Executive Member of the Board effective from 5th November 2019”, read a statement issued by Rita Mapara- Ndhlovu, the bank’s Company Secretary on 16th December 2019.
Cavmont Capital which boasts of more than 50,000 clients, 240 employees and a footprint of 19 branches across the country, makes the announcement following the exit of Johannes Swanepoel in early November. The bank moved quickly to replace the stalwart Director with a seasoned banker.
According to the published statement, Mr. Christiaan Petrus De Vries is a seasoned banker and a holder of a B. Com (Cum Laude) degree from the University of Pretoria. Prior to joining the Board of CCHZ, Mr. De Vries held the position of Managing Director of Bank Windhoek Limited on 1 June 2011 and held this position until June 2016. Hereafter, from 2013 until 2016 he concurrently also held the position of Managing Director of Bank Windhoek Holdings Limited.
The new appointee also has multinational experience. Prior to joining Bank Windhoek Limited, he also held the position of Managing Director of the National Bank of Commerce in Tanzania.
The appointment is a welcome move for the board that is yet to make a decision regarding Peet Van Der Walt, who is currently interim CEO.