DT Correspondent
HARARE: LISTED rubber and chemicals manufacturer, General Beltings Holdings (GB) has appointed Joseph Gunda as the new acting managing director with effect from January 1, 2024.
Gunda replaces Wilbroad Tsuroh, who retired in December 2023, after having served the company sterlingly for two decades.
In a notice this Monday, the board chairman Godfrey Nhemachena said, Gunda was not new to the group as he was the general manager for General Beltings and was familiar with the operations of the company.
“The Board wishes to announce the appointment of Joseph Gunda as the new Acting Managing Director for GB Holdings Limited with effect from January 1, 2024. We wish him well in his new appointment,”Nhemachena said.
The company also complimented Tsuroh’s efforts after he steered the company from a loss-making entity to profitability, making it one of the surviving companies in Bulawayo.
“Tsuroh joined SMM Holdings Limited as the General Manager for Cernol Chemicals.
“He led the successful merger of Cernol Chemicals and General Beltings in 2005. Tsuroh steered the company from a loss-making entity to profitability through his able leadership, making General Beltings one of the surviving companies in Bulawayo” Nhemachena added.
In a trading update – third quarter 2023, the company’s total volumes for the third quarter at 308 metric tonnes were 57 percent higher than the 196 metric tonnes recorded in the same period prior year.
“The rubber division volumes at 92 metric tonnes were 19 percent higher than the 77 metric tonnes recorded in the same period last year. The Chemicals Division volumes at 216 metric tonnes were 82 percent higher than the same period prior year’s 119 metric tonnes due to the market recovery efforts in the quarter.
Total turnover for the quarter at USD 1.2 million was in line with the same period at USD 1.1 million, despite the increased competition from imports from the region and abroad. The company operated profitably in the quarter despite the mixed fortunes of the divisions”.
GB Holdings was incorporated as General Beltings (Private) Limited on June 24, 1968.
Its factory in Donnington Bulawayo was set up by Balatros GmbH of Humburg, Germany.
In July 2005 General Beltings was merged with Cernol Chemicals (Private) Limited and was renamed GB Holdings Limited on August 6, 2007.
General Beltings and Cernol Chemicals currently operate as divisions of GB Holdings Limited.
