New Zimbabwe.com

Top lawyer Matete takes over as new Zimre Holdings board chair

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By Alois Vinga


SEASONED lawyer and banker, Desmond Matete has landed Zimre Holdings Limited (ZHL) board chairman post, amid anticipation the corporate brand will scale dizzy heights under his stewardship.

An accomplished commercial lawyer and banker, Matete has over 27 years’ experience in financial advisory services, investment banking and development finance spanning both private and public sector roles, including directorships across industry and commerce.

In a statement announcing the new appointment, ZHL said is expects to tap into Matete’s vast wealth of experience.

“He is the managing director of New Frontier Capital, a local financial advisory and consulting services firm he co-founded back in 2013,” ZHL said.

“He joined the ZHL Board in April 2021 and his specialisation and versatile expertise in fields of impact investment, governance, corporate re-organisations, change management and projects development has been critical in the Group’s strategic forecast and culture regeneration.

“He is an enthusiast in sustainable responsible investment themes for long term impacts as underpinning the Group’s future activities locally and within the region.”

He takes over from Benjamin Kumalo, who has been a member of the ZHL Group, having joined the company in 1994 and has been its chairman since 2001.

Through Kumalo’s guidance and leadership, the Group navigated turbulent times with grace and strategic foresight.

He leaves the company in a healthier financial position and a new culture of inclusive growth between the Group, its shareholders and wider community of stakeholders.

“The ZHL Group extends appreciation and gratitude to Kumalo for his long years of dedicated service to the Group and wish him all the success in his future endeavours,” said ZHL.