THE Mutapa Investment Fund (MIF) has appointed a new 11-member board for ZESA (Private) Limited, completing a major corporate restructuring that brings several state-owned power entities under a single utility.
The restructuring consolidates ZESA Holdings (Private) Limited, the Zimbabwe Power Company (ZPC) and the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) into one operating company.
According to a notice issued by the Group Legal Advisor and Corporate Secretary, Tungamirai Chinhengo, the shareholder confirmed the appointments under General Notice 1193 of 2026.
Veteran business executive Albert Joel Nduna will chair the new board, while Ntokozo Mkandla will serve as deputy chairperson.
The non-executive directors are Tawanda Ernest Denhere, Matilda Nyathi, Sugar Chagonda, Cassius Gambinga, Theresa Muchinguri, Engineer Nomusa Jowah and Nyasha Hazel Muvirimi.
Engineer Cletus Nyachowe has been confirmed as chief executive of the new entity, while Engineer Jan Albert Oberholzer takes up the position of chief operating officer.
Oberholzer brings extensive power-sector experience, having served as chief operating officer at South Africa’s Eskom from 2018 until July 2023.
MIF chief executive officer John Mangudya said the restructuring was intended to restore operational efficiency at the power utility.
“ZESA restructuring is aimed at improving operational efficiency. The unbundled structure has overtime proved costly with overlapping functions, high administrative costs and coordinating functions undermining the very efficiencies which these structures had sought to address,” he said.
The consolidation was approved by Cabinet last month and is expected to create a leaner, vertically integrated power utility covering electricity generation, transmission and distribution.
The restructuring is aimed at eliminating duplication, reducing administrative costs and improving coordination across the power sector.
It is also expected to strengthen ZESA’s operational efficiency and overall viability as the country seeks to address persistent power supply challenges.
