The Board is responsible for the direction and control of the company, including setting strategic direction, providing leadership, supervising management and reporting to shareholders. To this end the board has established various committees to assist it in discharging its duties. These committees include the Audit Committee, Credit Committee and the Remuneration Committee. The Board meets regularly to deliberate on matters pertaining to the running of the company.
The Board comprises individuals of integrity with diverse business experience in various sectors of the economy. Their areas of expertise include legal, banking, accounting, industry and commerce and entrepreneurship. This enhances the quality of input in board oversight on the operations of ACL. The current board comprises of seven non-executive members and two executive members, the Managing Director and the Chief Financial Officer.
V.R Gapare - Chairman
Victor is currently the Chief Executive of GAT Investments (Pvt) Ltd. GAT Investments (Pvt) Ltd owns and operates Iron Duke Mine through Iron Duke Pyrites (Pvt) Ltd and Bilboes Gold Mines through Bilboes Holdings (Pvt) Ltd. He has extensive experience in the mining sector having worked for Anglo American Corporation and its subsidiaries, Zimbabwe Alloys Limited, Mashonaland Holdings and Bindura Nickel. Victor holds a Masters in Business Leadership (MBL) from UNISA, and a Bachelor of Business Studies from the University of Zimbabwe.
A.C. Jongwe - Non-Executive Director
Alex is currently the Managing Director of Accolade Holdings (Pvt) Ltd t/a Dalston Estates and Matenga Farm and is also the Chairman of Willdale Limited. He has extensive experience in the banking sector having been the Chairman of Zimbabwe Allied Banking Group Limited (ZABG), Managing Director- Barclays Bank of Zimbabwe, Finance Director- Barclays Bank of Zimbabwe, Finance Director- Standard Chartered Bank of Zimbabwe, Director of Standard Chartered Holdings (International) B.V and MB Holdings B.V (All domiciled in Holland). Alex holds an MBA from the University of Zimbabwe. He qualified as a Chartered Accountant in 1987.
S Matiza - Managing Director
Stanley has had an extensive banking career spanning over 15 years, most of which were spent at ZB Bank, Leasing Company of Zimbabwe (LCZ) and ZABG Bank. He has wide-ranging experience in the area of Corporate Banking, Corporate Advisory Services, Agricultural Finance, Risk Management, Treasury, Leasing and International Banking. He began his career as a Portfolio Manager with ZB Bank and later moved to LCZ as General Manager Marketing and Operations where he acquired extensive experience in both technical and practical aspects of Leasing. He was subsequently appointed Managing Director- LCZ. Prior to joining African Century Leasing, he was Head of Wholesale Banking at ZABG Bank. He holds a diploma in Bank Credit Management from Damelin College, South Africa, a Bachelor of Science Degree and an MBA from the University of Zimbabwe. He is the Chairman of the Finance Houses Association of Zimbabwe.
F Mungoni - Non-Executive Director
Fungayi is the Investment Executive of Takura Ventures, a Zimbabwe focused private equity fund. Before joining Takura he was Chief Finance Officer of Cell Holdings, a group of assurance services companies housing Cell Insurance, one of the top three short term insurance companies in Zimbabwe with management contracts in Swaziland and Botswana. He was responsible for finance, treasury and investment management. Fungayi gained his direct private equity experience as an Investment Executive at Commonwealth Africa Investments Limited (Comafin), a US$63.5m private equity fund operating in Sub Saharan Africa. As part of his investment monitoring duties at Comafin, he was Non-Executive Director of Manda Hill and Sable Zinc Kabwe both in Zambia and Lyons Zimbabwe, Lake Harvest Aquaculture and Dairibord Holdings Limited. Fungayi remains a Board member of ZSE listed Dairibord Holdings Limited.Fungayi holds a Bachelor of Accountancy (Honours) degree from University of Zimbabwe and an MBA from the Warwick Business School in United Kingdom. He qualified as a Chartered Accountant with Deloitte and Touché in Zimbabwe in 1998.
T.C. Mazingi - Non-Executive Director
Thembiwe is a Legal Practitioner in private practice since January 1982 and currently partner in law firm, Coghlan, Welsh & Guest since 1989. She is a member of the Law Society of Zimbabwe, the Harare Legal Practitioners Association, the MBA Association of Zimbabwe and a Committee member of the MBA Association Legal Committee and is a non-executive director for NicozDiamond Insurance and Ariston Holdings.Thembiwe holds a Masters in Business Administration (MBA) and Bachelor of Law degrees from the University of Zimbabwe. She is also a holder of Advanced Corporate Law and Securities Law, Advanced Programme in Value-Added Tax and Post-graduate Certificate in Advanced Taxation, all from UNISA.
B Ndebele - Non Executice Director
Themba is the Chief Executive Officer of Truworths Limited. Themba has vast appreciation of Zimbabwean industry, having been the Chief Operating Officer of TA Holdings, a diversified investment conglomerate with interests in hospitality, insurance, fertilizer and the financial services sector. He was also the Chief Operating Officer of Tregers Harare (Pvt) Ltd. Themba sits on the Imara Capital, TSL and Cattle Company Holdings boards. He is the Chairman of the St Johns Education Trust, a board member of the Harare Royal Golf Club, a Trustee of the Mashonaland Turf Club, and past president of the Institute of Chartered Accountants.
J Chenevix- Trench - Non Executice Director
Jonathan is the former chairman and CEO of Morgan Stanley International, where he spent over 23 years in a wide range of roles covering most of the investment banking business. In addition, he was the chairman of Morgan Stanley′s regulated banks in both the UK and in Russia. He is also the founding partner and chairman of a UK based real estate company, investing in commercial, retail and residential property in the UK and Germany.
M Chipunza - Chief Financial Officer
Margret is a Chartered Accountant having trained with Deloitte. She has over 17 years of experience in the financial services sector which include accounting, financial management, financial reporting, auditing, company secretarial, administration, risk management, microfinance and agricultural finance. She worked in a senior capacity in various banks including ZABG. Margaret spent three years with Untu Microfinance where she started off as Finance Director for two years before being appointed as the Chief Operating Officer. Margaret is a Certified Microfinance Expert with Frankfurt School of Finance and Management and is an alumnus of both the Boulder Institute of Microfinance and the School of African Microfinance. Prior to joining ACL, Margaret was the Finance Director for the Agricultural Development Bank of Zimbabwe.
R.N. Keighley - Non-Executive Director
Roger is a Financial Services professional with over 35 years experience in developing markets, primarily in Sub-Saharan Africa, and in Kosovo and Armenia. He has worked as Credit Manager for commercial banks in the UK and South Africa, and also for Bank of America, where he held the position of Vice President, Credit Products. As Head of Treasury Operations on the Lesotho Highlands Water Project he was responsible for managing and disbursing a multi-million dollar loan and grant funding portfolio. He has also served as Treasurer for the Tanzania Development Finance Bank and as an Investment Director for Norfund. In the role of Head; Africa for SBI (now Enclude) he was responsible for project managing a number of SME Access to Finance projects in Sub-Saharan Africa, including the IFC’s largest project under their Africa MSME Programme. Roger has held non-executive directorships in financial institutions in Botswana, Tanzania and Zimbabwe. He is a member of the Chartered Institute of Bankers (UK) and the Institute of Directors of Southern Africa
C.J. Ringrose - Non-Executive Director
Chris Ringrose, a partner in African Century, joined the group at its inception in 2008. He is formerly of the corporate travel management specialist HRG plc, where he spent 4 years as corporate finance manager during its IPO. Previously he was at KPMG for more than 10 years, latterly as an associate director in their Transaction Services practice. He has extensive experience of cross-border M&A and investment appraisal.