ZESA hunts for new CEO

Business Reporter

THE country’s power utility, ZESA Holdings, has started hunting for a new group chief executive officer following the termination of Engineer Josh Chifamba’s contract recently.

“Applications are invited from suitably qualified and experienced persons to fill the position of group chief executive officer that has arisen in the utility,” said ZESA in a notice.

The CEO’s post demands effective leadership and financial management of the organisation that will pro-actively shape the future of the parastatal and ensure its turnaround.

ZESA Holdings has four subsidiary companies namely, the Zimbabwe Power Company, Zimbabwe Electricity Transmission and Distribution Company, ZESA Enterprises, and Powertel Communications. 

The company’s board decided not to extend Eng Chifamba’s second term following his suspension and subsequent arrest last year due to allegations of corruption and criminal abuse of office.

His contract expired sometime last year, having been extended by four years after earlier serving for three years as Zesa chief executive officer.

Eng Chifamba was arrested in October 2018 in connection with alleged criminal abuse of office in the awarding of a contract involving ZESA’s unit Zent and Indian firm, PME, for the supply of transformers and other equipment worth $35 million.

Government is instituting parastatal reforms that are expected to instil corporate governance structures in key parastatals in line with measures to restore viability. The move is being guided by the Cabinet decision of April 10, 2018 and is enshrined in the Transitional Stabilisation Programme. Cabinet has already approved the re-bundling of the power utility.