Type to search

Business News World

ZCDC begins hunt for new CEO


Harare, (New Ziana) – The Zimbabwe Consolidated Diamond Company (ZCDC) on Sunday began its search for a new chief executive to replace Dr Morris Mpofu who was fired five months ago amid allegations of corruption and abuse of office.

The axe fell on Dr Mpofu and six other top managers at the diamond mining firm, with its board arguing the move was aimed at cleansing the organisation and rebuilding public confidence.

Roberto de Pretto was appointed acting chief executive until a permanent replacement was found.

Established in 2015, ZCDC is a major player in diamond mining and currently has operations in the Chiadzwa area and in Chimanimani in Manicaland and, is conducting extensive exploration and evaluation across Zimbabwe.

Recruitment agency, Industrial Psychology Consultants said the overall purpose of the job was “to provide leadership and direction in the growth of the business. Deliver value to the shareholder and other stakeholders in a sustainable manner.”

Government mid this year announced intentions to dilute its 100 percent shareholding in the firm through an equity partnership with Russian diamond miner, Alrosa.

Diamonds are expected to play a big role in Zimbabwe’s ambitious target to up mining sector contribution to the country’s gross domestic product to US$12 billion by 2023.

President Emmerson Mnangagwa on Monday launches the strategic roadmap for the industry in its quest to triple its earnings at a joint ceremony where the ZCDC, in partnership with the Marange community and London Stock Exchange listed Vast Resources will establish a joint venture diamond mining company.

More than 10 years after mining of the gems started in Manicaland province, citizens still question the benefits that the country has earned from the operations.

The ZCDC said last week it was aiming to ramp up output to 10 million carats per annum in the next two years as it seeks to enhance benefits accruing to the nation through the exploitation of diamonds.

The firm produced 1.8 million carats in 2017 and 2.8 million carats in 2018.
New Ziana


Leave a Comment

Next Up