• Tue. Apr 23rd, 2024

Simba Makoni out, Victor Gapare in at Powerspeed

ByEconomic Times

Mar 8, 2023

By ETimes

Dr. Simba Makoni has stepped down from his position at Powerspeed, where he was the chairman of the board for the past 13 years and was replaced by Victor Gapare.

In a statement to shareholders, the company said, “Powerspeed Electrical Limited wishes to inform its shareholders that Dr. Simba H. Makoni resigned from the Board of Directors of the Company with effect from 23 February 2023. He had served the Company since 2010.”

According to the company, during his tenure, he steered Powerspeed to become one of the leading businesses in its industry. His expertise and guidance over his tenure of chairmanship has been extremely valuable.

“We would like to thank Dr. Makoni for his dedication to Powerspeed over these years and wish him every success in his future endeavours,” the company added.

To replace such a noble and long serving chairman the board voted in a man of high stature in Victor Gapare to take over the stewardship of overseeing the interests of the company.

Powerspeed said, “The Company also takes this opportunity to advise shareholders of the appointment of Mr. Victor Gapare as the new Chairman of the Board of Directors of Powerspeed with effect from 23 February 2023.”

Victor is an Executive Director of Caledonia Mining Corporation, a gold mining company listed on the New York Stock Exchange, AIM in London and the Victoria Falls Stock Exchange.

Prior to that, he was the Chief Executive Officer of Bilboes Holdings (Private) Limited, a gold mining and exploration company which was taken over by Caledonia on 6 January 2023. He worked for Anglo American Corporation Zimbabwe for 16 years and rose to the position of Director for the gold and pyrites mining division before completing a management buyout of the gold and pyrites mining division from Anglo American Corporation in 2003.

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He is a former President of the Chamber of Mines of Zimbabwe.

Victor holds a Bachelor of Business Studies degree from the University of Zimbabwe and a Masters Degree in Business Leadership from the University of South Africa. He is a Director of African Century Limited, a Zimbabwean leasing company, Intrachem Limited, a manufacturer and supplier of mining explosives and chemicals in Zimbabwe – Harare

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