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Herald Reporter

THE Government has appointed Mr Winston Makamure as chairman of the Industrial Development Corporation of Zimbabwe (IDCZ).

Mr Makamure replaces seasoned industrialist Mr Charles Msipa. 

Mr Msipa, who is also the chief executive of Schweppes Zimbabwe and chairman of National Competitiveness Commission stepped down on May 30, having been appointed the same month last year. 

“Mr Makamure brings a wealth of experience to the IDCZ following several years of experience in the corporate sector and governance in Government parastatals which will add value to the company as it forges ahead to consolidate and reposition itself towards the achievement of the Ministry’s objectives as stipulated in the National Development Strategy (1) and ultimately Vision 2030,” Industry and Commerce Minister Dr Sekai Nzenza said in a statement. 

In 2018, the Government approved restructuring strategies of IDCZ subsidiaries and associate companies through the State Enterprises and Parastatal Reform Framework.

The restructuring is not only confined to total disposal subsidiaries and associate companies, but also entails liquidation, privatisation and partial privatisation.

So far, IDCZ has disposed of its 51 percent shareholding in Almin Metal Industries, 49 percent interest in Stone Holdings, 100 percent in Zimglass while Zimbabwe Copper Industries was liquidated.

It is also looking for potential investors for Irazim Textiles and Travan Blankets, Willowvale Motor Industries, Deven and Chemplex. 

The IDCZ secured a partner who injected capital into Amtec Motors thus reducing the IDCZ’s shareholding from 55 percent to 27,5 percent.