Cement producer, PPC Zimbabwe Limited, has appointed Albert Sigei as new MD with effect from January 1, 2024.
He takes over from Kelibone Masiye who is leaving the company after 29 years. Seven of those years were at the helm of the company, PPC Zimbabwe said.
Sigei’s employment contract is subject to obtaining the necessary work permit, it said.
In a statement, PPC Zimbabwe said Sigei has over 21 years’ experience in the building materials sector within the Africa region. He was CEO for Lafarge Cement Malawi and Cimerwa Limited (Rwanda). Sigei was also Head of Strategic Initiatives for PPC Africa Group.
On behalf of the board, I would like to welcome Albert to the PPC Zimbabwe team. We are delighted to have a seasoned executive of Albert’s talent join PPC Zimbabwe as Managing Director. He brings a wealth of regional industry experience and an excellent track record of superior results in productivity, safety, and environmental stewardship,” board chairman Todd Moyo said in a statement.
PPC Zimbabwe paid tribute to Masiyane for steering the ship under difficult conditions. Under his leadership, the company steadily improved its’ financial performance, resulting in higher returns to shareholders, it said.
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Sigei joins the company that is battling to have its shares traded on the Zimbabwe Stock Exchange, nearly four years after the government banned the trading of fungible stocks—Old Mutual, PPC and Seed Co International—for allegedly fuelling the rout of the local currency. Seed Co International has resumed trading, but on a dollar-denominated bourse.