Zimbabwe: Mutapa Fund Appoints 11 Zesa Board Members in Major Overhaul

What the report says

Zimbabwe’s state-backed Mutapa Investment Fund has appointed a new 11-member board for ZESA (Private) Limited, according to New Zimbabwe, in a move that completes a broader restructuring of the country’s electricity sector. The changes bring ZESA Holdings, the Zimbabwe Power Company and the Zimbabwe Electricity Transmission and Distribution Company under a single operating structure.

The article said the appointments were confirmed in a notice from group legal adviser and corporate secretary Tungamirai Chinhengo under General Notice 1193 of 2026. Veteran business executive Albert Joel Nduna will chair the board, with Ntokozo Mkandla as deputy chairperson. The non-executive directors named include Tawanda Ernest Denhere, Matilda Nyathi, Sugar Chagonda, Cassius Gambinga, Theresa Muchinguri, Engineer Nomusa Jowah and Nyasha Hazel Muvirimi.

Engineers Cletus Nyachowe and Jan Albert Oberholzer were also named as chief executive and chief operating officer, respectively. New Zimbabwe reported that Oberholzer previously served as Eskom’s chief operating officer in South Africa until July 2023.

Mutapa Investment Fund chief executive John Mangudya said the reorganization is intended to improve operational efficiency, reduce duplication and lower administrative costs. The consolidation was approved by Cabinet last month, and is being presented as part of efforts to strengthen ZESA’s performance amid Zimbabwe’s ongoing power supply challenges.