Vusumuzi Dube
Rutendo Nyeve, Sunday News Reporter
ZIMBABWE Stock Exchange-listed construction and industrial group Masimba Holdings, has appointed Mr Fungai Matahwa its group chief executive officer designate.
This follows the pending retirement of current CEO Mr Canada Malunga who is set to retire at the end of this year.
Company Secretary Pearl Mutiti announced the recent appointment on behalf of the board in a letter saying Mr Malunga will retire on 31 December 2023 after a decade of visionary and successful leadership.
“The Board is pleased to announce the appointment of Mr Fungai Matahwa as Group Chief Executive Officer Designate, effective 1 January 2024. Fungai was appointed to the Board on 15 September 2023. Prior to his appointment, Fungai held the position of Managing Director (Construction),” reads the letter.
The board said Mr Malunga led the Group through major transformations, such as rebranding from Murray & Roberts (Zimbabwe) Limited in 2013, and unbundling and listing of its manufacturing division, Proplastics, on the Zimbabwe Stock Exchange in 2015.
“He was also instrumental in expanding the contracting business into various sectors and services, and fostering a culture of excellence and collaboration within the Group. It is with profound gratitude that the Board thanks Canada for his outstanding service to the Group and wishes him a well-deserved and fulfilling retirement,” reads the letter.
Masimba has completed notable projects such as the original Harare Domestic Airport, its first contract in 1951. Since inception the company has taken on highly complex infrastructure projects that require special construction techniques such as slip- forming, pre-stressing of bridges and beams, concrete tunnel lining and shotcreting.
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