malvernmugadzikwa
Business Writer
Listed agro company, CFI Holdings, has appointed Tariro Dumba as substantive Group Finance Director effective March 2023, replacing Chesternoel Mutevhe who was in an acting capacity.
In a statement the company said; “The board of directors of CFI Holdings Limited would like to announce the resignation of the Acting Group Finance Director Mr Chesternoel Mutevhe, with effect from February 28, 2023.
“Further, the board is pleased to announce the appointment of Mr Tariro Dumba as the Acting Finance Director for the company until the appointment of a substantive finance director.”
The company said Dumba’s appointment is with effect from March 1, 2023.
A qualified Chartered Accountant (Zimbabwe), having served his Articles of Clerkship with KPMG Zimbabwe, Dumba is a seasoned financial practitioner with more than 15 years of accounting, financial reporting, taxation and audit experience.
His experience is vast as he has worked in the mining, manufacturing and agriculture sectors.
The outgoing Mutevhe joined the group in 2005 as group company secretary and treasurer and held various senior leadership positions throughout his tenure with the group.
“He served the group with exemplary leadership and integrity up to his exit, and his last role was as acting group finance director, a position he held since 2016,” the company said.
In the first quarter ending December 31, 2022, Agrifoods’ sales volumes performance was flat at prior period levels as demand for stockfeeds remained stagnant in the face of general economic challenges.
“During the period, exchange rates stabilised and monthly inflation rates slowed down following policy measures introduced in the prior year. This, however, resulted in liquidity constraints on the local currency as the use of the foreign currency increased,” the company said.
Victoria Foods enjoyed stable wheat supplies during the quarter following the country’s successful winter wheat season. Notwithstanding, sales volumes contracted by 19,8 percent compared to prior year.
According to the company, this was a result of the flour mill operating under subdued capacity following power supply shortages, whilst maize supply constraints subdued the maize mill operations.
Online Reporter