Digital Telegraph Correspondent
Listed cables manufacturer Cafca has appointed former Zimplow Holdings boss Vimbayi Nyakudya as the new chief executive officer from June 3, 2024.
Nyakudya replaces Rob Webster, who retired as the managing director of a listed cables manufacturer company in February this year after serving two decades at the helm.
The company has its primary listing on the Zimbabwe Stock Exchange and its secondary listing on the Johannesburg Stock Exchange, manufactures and supplies cables for the transmission and distribution of energy and information.
“The Chairman Advocate Honour Mkushi and the Board of Directors of CAFCA Limited are pleased to announce the appointment of a new Chief Executive Officer for the company. Mr Vimbayi Nyakudya a qualified Chartered Accountant and experienced Chief Executive Officer will take over the executive leadership of CAFCA with effect from Monday the 3rd of June 2024.
“With the support of the Board and the Shareholders the company looks forward to a happy and successful future together” Cafca said
The company’s sales volumes for the half-year ended March 31, 2024, were 10 percent above last year’s comparative figures for both domestic and export volumes.
“Most domestic sectors had a steady growth. The newly introduced Zimbabwe Gold currency is expected to bring more stability in the economy,” the firm said in its financial results.
Turnover in inflation-adjusted numbers was US$31,1 million up 42 percent compared to the prior period. Operating profit in inflation-adjusted figures was 16 percent above last period, less than turnover increase.
“The shift towards aluminium from copper in terms of sales mix resulted in lower profitability. Inflation accelerated in the period January 2024 to March 2024,” Cafca added.
Meanwhile, listed sugar producer, Star Africa Corporation has appointed Odiline Kava as a non-executive director, effective June 01, 2024.
“Kava brings with her over 30 years of professional experience, she has worked for several companies, including FBC Holdings, Export Credit Guarantee Corporation, The University of Zimbabwe and NicozDiamond Insurance Limited. She is currently serving as the Board Chairperson for Management Training Bureau and is a past Vice President of the Zimbabwe Institute of Public Relations” StarAfrica said
