President appoints DTZ, Nuanetsi Ranch boards 

Source: President appoints DTZ, Nuanetsi Ranch boards | The Herald February 15, 2019

President appoints DTZ, Nuanetsi Ranch boardsPresident Mnangagwa

Freeman Razemba Senior Reporter
President Mnangagwa has appointed a board of trustees for the Development Trust of Zimbabwe (DTZ) and board of directors for Nuanetsi Ranch Limited.

The board of trustees for DTZ are former Mutare City Council Commissioner Mr Henry Nemaire, who is also a financial director for Tanganda Private Limited; Gwanda-based businessman and former mayor for the town Mr Rido Mpofu; chairman of Art Cooperation Mr Franklin Mukarate; Mrs Tatenda Muchekesi, a businesswoman and human resource manager at St Anne’s Hospital Harare and Mr Ailess Baloyi, a former chief executive officer for Chiredzi District Council.

Others are a lecturer at Lupane University Dr Sibonokuhle Ndlovu; Bulawayo Provincial Administrator Mr Konzani Ncube; Kadoma-based businessman (mining and agriculture) Mr Francis Khondanani; businesswoman Ms Thandi Nkomo Ibraham; former Attorney-General Mr Sobuza Gula Ndebele; and Dr Themba Ndlovu, a principal director in the Office of the President and Cabinet.

Nuanetsi Ranch Limited board of directors are Zimbabwe Agriculture Society chief executive officer Dr Anxious Masuka; Ms Felicity Sekai Gutu, a practitioner and specialist in development, education, information and communication; Kwekwe businessman Mr Solomon Matsa; Bindura-based businesswoman Mrs Maidel Masawi; Mr Herbert Nkala, who is chairman for several boards that include OK Zimbabwe, FBC Holdings and Homelink; and Mr Cephas Hodzi, a principal director in Vice President Kembo Mohadi’s Office.

Addressing a press conference in Harare yesterday, VP Mohadi, who is also the chairperson for DTZ Board of Trustees, said President Mnangagwa had selected the DTZ board on basis of members’ business acumen, provincial representation and institutional memory and continuity.

“The major task of these two boards is to resuscitate DTZ and its subsidiaries, making sure that the business entities are revived and run profitably,” he said.

“It is the income and dividends raised by DTZ business entities that will be used to benefit Zimbabweans of all walks of life.

“Soon, the two boards will hold their first sittings, where they will have to come up with their strategic plans to turn around DTZ and its business entities.”

VP Mohadi took the opportunity to dismiss inaccuracies being peddled by some people on DTZ and Nuanetsi Ranch. These include claims that Nuanetsi Ranch was a personal asset of former Vice President Dr Joshua Nkomo and is part of the inheritance of the late VP’s family.

VP Mohadi dismissed allegations that VP Nkomo left Nuanetsi to some founder members of staff at the ranch.

He said Nuanetsi Ranch was not a Zanu-PF property.

“A brief background on DTZ and Nuanetsi Ranch will serve to dispel these distortions and misinformation,” said VP Mohadi.

“A comprehensive press statement will be posted in the major papers and it gives accurate information on DTZ and its subsidiaries, where Nuanetsi Ranch is the major asset and flagship of DTZ.

“The other assets include Zagrinda in Norton, Greencroft Coffee Estates in Eastern Highlands and Zimbabwe Bio Energy.

“It is true that Nuanetsi Ranch was acquired by former Vice President Dr J.M Nkomo.

“He acquired it from the Imperial Cold Storage and Supply Company of South Africa to bequeath it as a national asset for the emancipation and empowerment of Zimbabweans.

“Dr J.M.N Nkomo established the Development Trust of Zimbabwe (DTZ) on the foundation of Nuanetsi Ranch, having seen its massive economic potential.”

VP Mohadi quoted a letter written to then President Mr Robert Mugabe by VP Nkomo.

It reads: “I would like to stress to you Comrade President as here under.

  1. Nuanetsi Ranch is presently owned by a South African Public Company and it would be advantageous to localise the shareholding by taking over all shares. 2. Although the trust has its first object, the acquisition of Nuanetsi Ranch, nevertheless the objects, are so wide that they enable the trustees and the management team to do almost anything within the law.”

VP Mohadi said DTZ was established to promote the interests, well-being, education and economic experience of Zimbabweans.

“The former President R.G Mugabe was the first patron of DTZ and His Excellency E.D Mnangagwa is the current patron,” he said.

“After the first chairperson Dr J.M.N Nkomo, the other chairpersons that followed were former Vice Presidents J Msika, J.L Nkomo, R.P Mphoko, Cde S.K Moyo (in an acting capacity).

“I am the current chairperson of DTZ, having been appointed by His Excellency E.D Mnangagwa.”

VP Mohadi said DTZ and its subsidiaries that include Nuanetsi Ranch were national assets.

He said Nuanetsi Ranch was in a joint venture with Cutstar Investments, a company owned by Mr Billy Rautenbach.

The joint venture is governed by a Memorandum of Understanding signed in 2008. VP Mohadi said the MoU was now due for a review.