Opinion / Columnist
Leadership changes sweep through Zim's corporate landscape
16 hrs ago | Views
A wave of leadership changes has swept through several listed companies in recent weeks, marking a significant shift in the corporate landscape. Notable companies such as OK Zimbabwe, Econet Wireless, Ecocash, Proplastics Limited and CBZ Holdings have all undergone changes at the top, heralding a new era of leadership.
At OK Zimbabwe, the board of directors recently ousted its top management, including Chief Executive Officer Maxen Karomba, Chief Financial Officer Phillimon Mushosho, and Supply Chain Director Knox Mapaya, due to gross mismanagement. The board has appointed seasoned retailer Willard Zireva as Acting CEO, Alex Edgar Siyavora as CFO, and Muzvidzwa Richard Chingaira as Supply Chain Director.
Similarly, CBZ Holdings has announced the departure of its Managing Director, Gift Simwaka, and Group Chief Finance Officer Tawanda Lloyd Gumbo. They have been replaced by Norman Tafadzwa Mhondiwa and Joel Makombe, respectively.
Econet Wireless has also experienced a change in leadership, with Chief Operating Officer Kezito Makuni exiting the company. In a major overhaul, Ecocash Holdings has seen the departure of eight directors, including CEO Eddie Chibi and long-serving executive Darlington Mandivenga. Tawanda Nyambirai has taken over as the new leader.
Lastly, Proplastics Limited has announced the exit of its CEO, Kudakwashe Leo Chigiya, who has been replaced in an acting capacity by the company's Finance Director, Paschal Changunda.
This development is particularly significant, as it signals a departure from the old guard, whose tendency to blame the operating environment for their companies' woes often masked underlying issues of mismanagement. The new leadership brings with it a fresh perspective and a renewed sense of accountability, which is likely to have a positive impact on the companies' performance.
As these companies embark on a new chapter, they have a unique opportunity to reinvigorate themselves, shed inefficiencies, and drive innovation. By acknowledging past mistakes and taking ownership of their challenges, these companies can regain the trust of their stakeholders, including investors, customers, and employees.
The changing of the guard also presents an opportunity for these companies to reassess their strategies, streamline their operations, and capitalize on new opportunities. As the new leaders settle into their roles, all eyes will be on their ability to drive growth, improve efficiency, and restore their companies to their former glory.
The recent leadership overhaul in the private sector could potentially extend to the public sector, particularly state-owned enterprises (parastatals). While managers at parastatals often cite sanctions as a major obstacle, it's time to demand more from them.
Rather than simply acknowledging the challenges posed by sanctions, we need managers who can confidently assert their ability to turn around these entities despite the adverse conditions. We require leaders who can develop strategies to mitigate the impact of sanctions, navigate turbulent economic waters, and drive success.
To achieve this, all applicants for top positions at parastatals should be presented with this challenge and evaluated on their commitment to deliver results in the face of adversity.
Zimbabwe's State-owned enterprises and parastatals have seen a significant decline in their contribution to the country's Gross Domestic Product (GDP). In the 1990s, they accounted for over 40% of Zimbabwe's GDP, but currently, they contribute less than 10%. This decline is attributed to various factors, including poor governance.
The Government has recognized the need to improve the performance of these state-owned enterprises and parastatals. In fact, the State Enterprises Reform, Corporate Governance Unit, and Procurement in the Office of the President and Cabinet have identified performance of public entities as an area that requires refocus for the country to realize its national aspirations and Vision 2030.
To address these challenges, there have been calls for professionalizing the management of state-owned enterprises and parastatals, as well as adopting sound corporate governance practices. By doing so, Zimbabwe can unlock the full potential of its state-owned enterprises and parastatals, and increase their contribution to the country's GDP.
#NewEraForZimBusiness
At OK Zimbabwe, the board of directors recently ousted its top management, including Chief Executive Officer Maxen Karomba, Chief Financial Officer Phillimon Mushosho, and Supply Chain Director Knox Mapaya, due to gross mismanagement. The board has appointed seasoned retailer Willard Zireva as Acting CEO, Alex Edgar Siyavora as CFO, and Muzvidzwa Richard Chingaira as Supply Chain Director.
Similarly, CBZ Holdings has announced the departure of its Managing Director, Gift Simwaka, and Group Chief Finance Officer Tawanda Lloyd Gumbo. They have been replaced by Norman Tafadzwa Mhondiwa and Joel Makombe, respectively.
Econet Wireless has also experienced a change in leadership, with Chief Operating Officer Kezito Makuni exiting the company. In a major overhaul, Ecocash Holdings has seen the departure of eight directors, including CEO Eddie Chibi and long-serving executive Darlington Mandivenga. Tawanda Nyambirai has taken over as the new leader.
Lastly, Proplastics Limited has announced the exit of its CEO, Kudakwashe Leo Chigiya, who has been replaced in an acting capacity by the company's Finance Director, Paschal Changunda.
This development is particularly significant, as it signals a departure from the old guard, whose tendency to blame the operating environment for their companies' woes often masked underlying issues of mismanagement. The new leadership brings with it a fresh perspective and a renewed sense of accountability, which is likely to have a positive impact on the companies' performance.
As these companies embark on a new chapter, they have a unique opportunity to reinvigorate themselves, shed inefficiencies, and drive innovation. By acknowledging past mistakes and taking ownership of their challenges, these companies can regain the trust of their stakeholders, including investors, customers, and employees.
The changing of the guard also presents an opportunity for these companies to reassess their strategies, streamline their operations, and capitalize on new opportunities. As the new leaders settle into their roles, all eyes will be on their ability to drive growth, improve efficiency, and restore their companies to their former glory.
The recent leadership overhaul in the private sector could potentially extend to the public sector, particularly state-owned enterprises (parastatals). While managers at parastatals often cite sanctions as a major obstacle, it's time to demand more from them.
Rather than simply acknowledging the challenges posed by sanctions, we need managers who can confidently assert their ability to turn around these entities despite the adverse conditions. We require leaders who can develop strategies to mitigate the impact of sanctions, navigate turbulent economic waters, and drive success.
To achieve this, all applicants for top positions at parastatals should be presented with this challenge and evaluated on their commitment to deliver results in the face of adversity.
Zimbabwe's State-owned enterprises and parastatals have seen a significant decline in their contribution to the country's Gross Domestic Product (GDP). In the 1990s, they accounted for over 40% of Zimbabwe's GDP, but currently, they contribute less than 10%. This decline is attributed to various factors, including poor governance.
The Government has recognized the need to improve the performance of these state-owned enterprises and parastatals. In fact, the State Enterprises Reform, Corporate Governance Unit, and Procurement in the Office of the President and Cabinet have identified performance of public entities as an area that requires refocus for the country to realize its national aspirations and Vision 2030.
To address these challenges, there have been calls for professionalizing the management of state-owned enterprises and parastatals, as well as adopting sound corporate governance practices. By doing so, Zimbabwe can unlock the full potential of its state-owned enterprises and parastatals, and increase their contribution to the country's GDP.
#NewEraForZimBusiness
Source - Tonderai Ndoro
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