MUTAPA Investment Fund chief executive officer John Mangudya has made board appointments in six parastatal as the country's sovereign wealth fund moves to revamp operation of units under its wings
Mangudya made changes at POSB, Zesa Holdings, Cottco, Silo Food Industries, Allied Timbers and Air Zimbabwe, with the appointments valid for four years.
Mangudya made the announcements through General Notice 1387 of 2024.
Among those appointed is business executive Kenias Mafukidze, who is the new board chairperson of People’s Own Savings Bank, effective September 1 2024.
Mafukidze, who has more than 30 years’ experience in business, is also the Alpha Media Holdings group chief executive officer.
He will be deputised by Vongai Chiwaridzo.
“It is hereby notified by the chief executive officer of the Mutapa Investment Fund, that the persons specified in the Schedule have been appointed as members of the People’s Own Savings Bank board, for a period of four years with effect from September 1, 2024. Mr Kenias Mafukidze (chairperson), Ms Vongai Chiwaridzo (vice chairperson), Dr Newton Demba, Ms Michelle Hakata, Dr Dennis Magaya, Mr Anymore Taruvinga, Mr Munyaradzi Chiura,” the notice read.
Mafukidze is a qualified chartered accountant, who holds a Bachelor of Accountancy Honours Degree as well as an MBA and MPhil in Development Finance.
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Mangudya also announced the appointment of other board members for other public-owned companies – retaining and replacing some for the State owned entities that now fall under Mutapa.
He appointed a 10-member board for Zesa Holdings, while making additions and replacements for board members on other Mutapa entities.
At Zesa Holdings, Mangudya retained executive chairperson Sydney Gata, who will be deputised by insurance encyclopedia Albert Nduna.
The other board members are Irene Jeke, Miriam Chahuruva, Ntokozo Mkandla, Eliab Tafireyi Chikwenhere, Ernest Denhere, Itayi Utah, Cassius Gambinga and Liston Matindife.
On the Cottco board, Mangudya made two additions in Raphael Ranganayi and banker Rufaro Hatendi.
Appointed to the board of Silo Food Industries is Admire Masenda, while legal counsel Bertha Muzangaza was added to the Allied Timbers (Pvt) Ltd board of directors, with Farai Mpofu and Dedrey Mutimutema being appointed to sit on the Air Zimbabwe board.
