Vimbayi Nyakudya Appointed CEO of Zimbabwe's Cafca Limited

Cafca Limited, a leading cable manufacturer in Zimbabwe, has announced the appointment of Vimbayi Nyakudya as its new Chief Executive Officer (CEO), effective June 3, 2024. Nyakudya, a seasoned chartered accountant, steps into this role following the departure of Rob Webster earlier this year.

Nyakudya brings a wealth of experience to Cafca, having served CEO of Zimplow since January 2019. His tenure at Zimplow was marked by significant achievements, and he stepped down from this position last month. Honour Mkushi, Board Chairperson of Cafca Limited, expressed confidence in Nyakudya's capabilities, stating, *'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.'*

Nyakudya's appointment comes at a time when Cafca is experiencing robust financial growth. In its financial results for the half-year ended March 31, 2024, the company reported a turnover of ZWL$686 billion in inflation-adjusted terms, a notable increase from ZWL$483 billion in the same period last year. This growth in turnover translated into a profit after tax of ZWL$145.51 billion, up from ZWL$116.87 billion as of March 31, 2023.

The appointment of a new CEO can have a significant impact on the direction and performance of a company, particularly in a key industry like cable manufacturing. This change in leadership may influence Cafca's business strategy and likely impact the Zimbabwean economy.

The company had been operating without a substantive CEO since Webster's departure at the end of February. Nyakudya's arrival is expected to bring stability and strategic direction to Cafca as it continues to operate successfully in the competitive environment of cable manufacturing in Zimbabwe.

Nyakudya's background as a chartered accountant and his experience in executive leadership positions make him a valuable asset for Cafca. His proven track record at Zimplow suggests that he is well-equipped to drive Cafca's growth and enhance its market position.

As Nyakudya prepares to take on his new role, industry insiders and observers will be watching closely to see how his leadership will influence Cafca's trajectory in the coming years.

Key Takeaways

• Cafca Limited appoints Vimbayi Nyakudya as new CEO, effective June 3, 2024.
• Nyakudya brings experience as CEO of Zimplow and as a chartered accountant.
• Cafca reports robust financial growth, with a turnover of ZWL$686 billion.
• Nyakudya's appointment aims to bring stability and strategic direction to Cafca.
• Industry insiders will watch closely to see how Nyakudya's leadership impacts Cafca's growth.