Fuel Distribution

Ms. Tendai Madondo

Vice-Chairman

Appointed as Vice Chairperson in early 2025, Ms. Tendai Madondo brings a wealth of corporate experience to Petrotrade. She concurrently holds the position of Head of Corporate Affairs at Kuvimba Mining House (KMH), where she has been instrumental in transforming the company’s public image and positioning it as a key player in Zimbabwe’s mining industry. Her expertise in effective communication strategies and stakeholder engagement is expected to enhance Petrotrade’s corporate governance and public relations.

Mr. Joshua Tapambgwa

Chairman

Mr. Joshua Chance Tapambgwa is a seasoned Chartered Accountant with a distinguished career in finance and banking. He completed his articles with Arthur Young and Company in Harare, laying a strong foundation for his professional journey.

Mr. Tapambgwa’s career spans various industries, including roles at Nedlaw Management Services, South African Breweries’ Beer Division, Lonrho Mining Limited, and CAFCA Limited, a cable manufacturing company. In 2002, he joined Stanbic Bank Zimbabwe as Head of Finance, ascending to Executive Director of Finance in 2005, and ultimately serving as Chief Executive Officer from 2008 until his departure in December 2020. During his tenure, he adeptly navigated the bank through challenging economic periods, earning recognition for his leadership.

In August 2023, Mr. Tapambgwa was appointed as a Non-Executive Director at CAFCA Limited, contributing his extensive expertise to the company’s strategic direction.

Chiedza Jaravani

Infrastructure Cluster

Chiedza Jaravani serves as the Head of Cluster: Infrastructure – Telecommunications and Logistics at Mutapa Investment Fund, Zimbabwe’s Sovereign Wealth Fund. She is a seasoned finance and quantitative analytics professional with extensive experience in financial modeling, credit risk analytics, and infrastructure strategy.

Before joining Mutapa Investment Fund, Chiedza held several senior roles at SA Taxi Finance Holdings, including Senior Credit Modelling Analytics Analyst and Financial Planning and Analytics Senior Analyst. In these roles, she specialized in credit risk modeling, financial forecasting, and leveraging machine learning for predictive analytics. Earlier in her career, she was an Actuarial Consultant with African Actuarial Consultants, where she developed banking impairment models, credit scoring frameworks, and actuarial solutions for the insurance sector.

Chiedza holds a Bachelor of Science in Actuarial Science (Cum Laude) from Keele University, United Kingdom, and a Master of Science in Mathematical Science from the African Institute of Mathematical Sciences. She is currently pursuing her actuarial professional qualification with the Institute and Faculty of Actuaries in the UK.

Her diverse technical expertise, strategic leadership, and data-driven approach are vital to the Fund’s mission of fostering investments that enhance Zimbabwe’s infrastructure and promote sustainable development.

Tatenda Chimusoro

Industrials Cluster

Tatenda Chimusoro is the Head of Cluster for Industrials (Agro-processing and Engineering) at the Mutapa Investment Fund, Zimbabwe’s Sovereign Wealth Fund. He is a seasoned investment professional with expertise in data analytics, machine learning, and ESG consulting. Tatenda has collaborated with various departments across Southern Africa, particularly in Zimbabwe and South Africa, as well as with the African Development Bank (AfDB) and the Foreign, Commonwealth & Development Office (FCDO) on public finance management. Notably, in 2024, he supported South Africa’s Department of Mineral Resources along with prominent financiers and project developers in renewable energy procurement programs, including the REIPPP, RMIPPP, ESIPPP, and BESIPP initiatives.

Before joining the Sovereign Wealth Fund of Zimbabwe, Tatenda served as an Experienced Manager at Deloitte Africa for over eight years, where he was the lead transaction advisor in the transport (rail and road), telecommunications, water, energy, and healthcare sectors. He holds an MSc in Big Data Analytics and is a member of the CFA Institute.

Key Strengths:

– Extensive experience in infrastructure project development and procurement.

– Strong expertise in public policy development.

– Proficient in construction contract management, specifically regarding the FIDIC Conditions of Contract for construction projects.

– Skilled in executing investment strategies that align with the fund’s objectives and risk tolerance.

– Well-versed in various ESG reporting frameworks, including GRI, SASB, and TCFD, with a track record of delivering ESG advisory services across Africa.

Notable Success Stories

– Assisted the Government of Zimbabwe in developing public policies, including the Renewable Energy (RE) Policy and guidelines for Public-Private Partnerships (PPP).

– Provided consultancy to state-owned enterprises in Zimbabwe and South Africa on procuring infrastructure and capital investment projects, ensuring compliance with parliamentary acts and regulations in the preparation of tender and contractual documentation.

– Contributed to the establishment of the investment strategy at the Sovereign Wealth Fund of Zimbabwe (MIF).

Crosswell Gwamure

Head Internal Audit

Crosswell Gwamure is a distinguished seasoned Auditor with over 21 years of comprehensive experience in the field, having dedicated 5 years to external auditing and an impressive 16 years to internal auditing. Currently serving as Head Internal Audit at the Mutapa Investment Fund, Zimbabwe’s sovereign wealth fund, her vast expertise spans across various sectors of the economy.

Crosswell holds a Master’s in Business Administration and an Honours Degree in Business Studies specializing in Finance, both from the University of Zimbabwe. She is also a Certified Internal Control Specialist and a Certified Forensic Auditor, showcasing her commitment to maintaining the highest standards in corporate governance and financial integrity.

Her accolades include the prestigious Head of Corporate Governance of the Year 2022 award, presented by the Institute of Corporate Governance, underlining her exceptional contributions to corporate resilience and leadership.

Prior to her role at the Mutapa Investment Fund, Crosswell was the Internal Audit Manager for the Minerals Marketing Corporation of Zimbabwe, where she further honed her skills in governance and strategic oversight. With her unwavering passion for excellence and extensive experience, Crosswell Gwamure is making significant strides in advancing good corporate governance in Zimbabwe.

Florence Chibasa

Head Human Resources & Administration

Florence Chibasa is a seasoned Human Resources Practitioner with over 25years of HR Management experience at Senior Level. She has a strong cross – companies background and experience dating back to 1994 coming from both Telecommunications and Energy industries having served the then Posts and Telecommunications Corporation, Zimbabwe Posts, Powertel Communications, Zimbabwe Power Company as well as ZESA Holdings where she rendered support to large diverse workforces of over 12000 employees in multiple locations where she held senior managerial positions.

Florence has had opportunities to sit on Boards for different companies giving her the stamina to understand corporate and governance issues of organisations at the highest level.

Florence is a holder of an Honours Degree in Bachelor of Technology in Management, a Master’s in Business Administration as well as a Training Diploma with Institute of People Management of Zimbabwe (IPMZ) among other attainments.

Her work colleagues are privileged to have an excellent team player and leader who is multi-skilled at motivating staff to perform to peak levels.

Rugare Chikede Dhobbie

Head of Corporate Affairs and Communication

Rugare Chikede Dhobbie is a strategic business leader and communication expert with over 20 years of combined experience in corporate affairs, marketing, media, and the mining sector. She is the Head of Corporate Affairs and Communication at Mutapa Investment Fund (MIF).

Currently pursuing a Doctorate in Business Leadership, Rugare holds an MBA, a Bachelor’s degree in Media Studies, and professional qualifications in Marketing and Public Relations. Her expertise encompasses stakeholder engagement, crisis management, financial oversight, and strategic planning.

Previously, Rugare served as Assistant General Manager at Prospect Lithium Zimbabwe and as Marketing, Sales, and Logistics Manager at Hwange Colliery Company Ltd, where she also excelled in corporate affairs and communication.

With a background in journalism, Rugare has been instrumental in enhancing media relations and public perception for various organizations. She serves on multiple company boards, consistently promoting a culture of excellence and integrity within her teams.

Varaidzo Zifudzi

Chief Legal Officer and Company Secretary

Varaidzo Zifudzi is a registered Legal Practitioner with an LLBs(Hons) degree from the University of Zimbabwe, a Master of Laws degree from the University of London as well as a Post Graduate Diploma in EU Competition Law and Policy from Kings College.

Varaidzo is the Chief Legal Officer and Company Secretary of the Fund and prior to that was the Chief Director- Legal Services in the Ministry of Finance and Economic Development. Varaidzo has worked in the financial services sector and has over 25 years’ experience holding senior positions in both the public and private sector.

She is a former Deputy Chairperson of the Competition and Tariff Commission and sits on various Boards.

Ngoni Mudzamiri

Chief Financial Officer

Ngoni is a seasoned finance and strategy expert with over twenty years of experience. He was previously a partner at Ernst & Young. His expertise spans finance, private sector development, project management, corporate finance, corporate restructuring, and the commercialization of state-owned enterprises. Ngoni is a member of both the Institute of Chartered Accountants of Zimbabwe and the South African Institute of Chartered Accountants

Having worked in Ireland, the UK, and South Africa, Ngoni has led projects across Africa, including Malawi, Botswana, Uganda, Nigeria, Ethiopia, and Zambia. He has extensive expertise in financial modelling, feasibility studies, and infrastructure projects.

Ngoni’s career includes significant roles at KPMG Financial Services in Dublin and Barclays Bank in the UK.

Ngoni has advised on technical accounting matters and is a past chairman of ICAZ’s Accounting Procedures Committee.

Ernest Denhere

Deputy Chief Investment Officer

Ernest Denhere is the Deputy Chief Investment Officer of Mutapa Investment Fund, the Sovereign Wealth Fund of Zimbabwe.

Ernest is a seasoned investment professional with a proven track record in driving value creation and portfolio optimization. With a focus on emerging markets, he brings extensive experience in M&A, deal origination, capital structuring, and investment execution.

His expertise spans across diverse sectors, including financial institutions, infrastructure, energy, agriculture, and real estate. Ernest has a deep understanding of the African landscape and has successfully executed transactions and assurance engagements in both onshore and offshore markets. He has a strong track record in identifying and capitalizing on investment opportunities, while effectively managing risk.

Prior to joining Mutapa Investment Fund, Ernest was an Associate Partner and Senior Advisor with Financial Access Capital Partners B.V.

A Chartered Accountant with a Bachelor of Accounting Science (Honors), Ernest’s strong analytical skills and strategic mindset are invaluable assets to the Fund’s investment team.

Hoto Douglas

Hoto Douglas holds a Bachelor of Science Honors in Mathematics from the University of Zimbabwe and has established himself as a skilled Actuary. He has held prominent leadership positions, including Managing Director and Group Chief Executive Officer roles at various insurance companies such as FML and Alfin Holdings Ltd.

Currently, he serves as the Group Chief Executive Officer at First Mutual Holdings Limited. With years of experience, he was crucial in establishing First Mutual Reinsurance Company and serves on a number of boards, including the Zimbabwe National Statistics Agency.

His commitment to the actuarial profession and national development has made him a respected figure within the financial community.

Nqobile Ndlovu

Nqobile Ndlovu is a well-educated lawyer with an MBA from the University of Gloucestershire and an LLB from the University of Cape Town. She has served in various prestigious legal roles, including as Executive Assistant to the Group CEO at Escrow Zimbabwe, Group Company Secretary at Old Mutual Zimbabwe Limited, and Legal Counsel at Standard Chartered Bank Zimbabwe.

Nqobile has also served as a legal practitioner in Bulawayo and has held leadership roles within corporate governance, including Chairing the Association of Corporate Counsel and Government Officers. Her receipt of a Certificate of Appreciation from the World Bank Group attests to her notable contributions to the legal profession and her commitment to enhancing institutional governance in Zimbabwe.

Marc Holtzman

Marc is a prominent figure in international finance, holding a Bachelor of Arts degree in Economics from Lehigh University. He recently served as the Chairman of CBZ Holdings from 2019 to 2023 and has held notable leadership positions across global financial institutions, including Chairman of the Rwandan Capital Markets Authority and Chairman of the Astana Financial Services Authority in Kazakhstan.

Holtzman has a history of serving as Vice Chairman at Barclays Capital and ABN Amro Bank. His entrepreneurial ventures include co-founding MeesPierson EurAmerica and the Denver School for Science and Technology.

As Chairman of Zimbabwe’s Victoria Falls International Financial Center, he drove a digital transformation initiative at CBZ Holdings and facilitated its acquisition of First Mutual Life. His accolades include recognition as a Global Leader of Tomorrow by the World Economic Forum, exemplifying his impact on the global financial landscape.

Thembelihle Khumalo

Thembelihle Khumalo brings a wealth of experience in Public Relations and Communication, having earned a Master of Business Administration in Organizational Leadership from the African Leadership University.

Her executive capabilities were honed through her role as General Manager at Alpha Media Holdings from 2010 to 2014, as well as her founding of Labor of Love, which operated from 2007 to 2016.

She has spearheaded brand-building initiatives in Africa over the past seven years and holds expertise in transformative programs for prominent organizations. Khumalo’s leadership has left a mark on the sector, exemplified by her work with Africa’s largest hospice transformation program.

Bartholomew Mswaka

Bartholomew Mswaka holds a Bachelor’s Degree in Economics from the University of Zimbabwe and has amassed extensive experience in the banking and financial services sector. He began his career at the Reserve Bank of Zimbabwe and later worked with notable organizations such as the Bank of Botswana and HSBC Securities as a Managing Director in 1999.

He has held positions such as Chairman of the Zimbabwe Stock Exchange and Trustee of the Reserve Bank Pension Fund. Mswaka is now the independent Chairman of the Motor Industry Pension Fund and has been recognized as a noteworthy stockbroker and economist by Marquis Who’s Who, reflecting his significant contributions to the finance sector.

Charity C. Jinya

Charity Jinya holds an Honors Degree in Economics and an Honorary Doctorate in Business Administration. She has reached significant milestones in his career, most notably as the Managing Director at Nedbank Zimbabwe for a brief period in early 2020, and as an Independent Non-Executive Director since February 2021.

Charity has held leadership positions such as President of the Bankers Association of Zimbabwe and Chairman of the SADC Bankers Association. Her contributions to corporate governance have earned him various accolades, including the Director of the Year for Large Corporates from the Institute of Directors of Zimbabwe.

Additionally, she is an active member of the Monetary Policy Committee at the Reserve Bank of Zimbabwe, further enhancing her influence on Zimbabwe’s banking sector.

Bhamre Prassad

Bhamre Prasad possesses a robust academic background, holding an MPA in Economics and International Finance from Harvard University, an ME in Industrial Engineering from the University of Toronto, and a BE in Industrial Engineering from the University of Poona.

With over 16 years of experience in various capacities in Kazakhstan, Prasad has a wealth of expertise in sovereign wealth funds and infrastructure development. He has served as the Deputy CEO of Kazyna Sustainable Development Fund and has been a pivotal member of the investment committee of the Samruk Kazyna Sovereign Wealth Fund.

His notable achievements include founding a large $365 million solar polysilicon manufacturing plant and an independent solar photovoltaic company with operations in India and Singapore. Prasad has overseen approximately $800 million of “Silk-Road” transport infrastructure projects and has chaired the implementation of critical public-private partnership projects, showcasing his ability to drive impactful economic initiatives.

Farai Mutangamira

Farai Mutamangira is a distinguished legal practitioner, holding advanced qualifications in Public Leadership from Harvard University and a Bachelor’s degree in Laws from the University of Zimbabwe.

He is currently the Chairman at Fastjet and has co-founded several successful ventures, including Poscloud Limited and Vivata Capital.

As a Partner at Chirawood Chambers, he has built a reputation for excellence in Public International Law, International Arbitration, and Corporate Law. Mutamangira’s impressive litigation success in the High Court and above showcases his expertise, and his involvement in international arbitration highlights his prowess on global legal platforms.

Simbarashe Chinyemba

Chief Investment Officer

Simbarashe Chinyemba serves as the Chief Investment Officer of the Mutapa Investment Fund, Zimbabwe’s sovereign wealth fund dedicated to fostering economic growth for its citizens. With a diverse portfolio that includes approximately 29 parastatals and private investment firms, Mutapa Investment Fund plays a crucial role in the nation’s economic landscape, prominently featuring Kuvimba Mining House, one of Zimbabwe’s leading mining investment companies.

Before his current role, Simba was the Group Chief Executive Officer at Kuvimba Mining House, where he successfully led the organization for five years, driving significant growth and operational efficiencies. He previously held the position of Group CEO at Momentum Metropolitan Holdings in East Africa, managing a diverse portfolio across six countries.

Recognized for his strategic vision and leadership in the mining sector, Simba has made a substantial impact in his previous roles. He is a qualified actuary and a distinguished fellow of the Institute and Faculty of Actuaries (UK), boasting extensive leadership experience across Africa, the Middle East, North America, and Europe.

Simba Chinyemba’s commitment to sustainable investment and wealth creation underscores his contributions to the Mutapa Investment Fund and Zimbabwe’s economic development.

John Panonetsa Mangudya

Chief Executive Officer

John Panonetsa Mangudya was appointed to the post of Chief Executive Officer of Mutapa Investment Fund, which is the Sovereign Wealth Fund of Zimbabwe, on 1st May 2024, after successfully completed his ten-year tenure (2014 – 2024) as the Reserve Bank of Zimbabwe Governor.

He has 38 years of banking experience having worked for the Reserve Bank of Zimbabwe from 1986 to 1996 as a Principal Economist and the African Export Import Bank (Afreximbank) from 1996 to 1999 as an international banker. He joined CBZ Bank in 2000. He assumed the position of Group Chief Executive Officer in April 2012, having been Chief Executive Officer of CBZ Bank from 2006.

John has diverse experience in commercial, international, investment and central banking. He is a board member of the African Export-Import Bank (Afreximbank). He also served as the Chairman of the Industrial Development Corporation of Zimbabwe (IDC) and the Agricultural Marketing Authority of Zimbabwe (AMA), and a Board Member of the Africa University.

He holds a Bsc Economics (Honours), Msc Economics and a PhD in Business Administration.

Chipo Mutasa

Chairman

Mutasa Chipo holds an Honorary Doctorate from the Women’s University in Africa and is a Chartered Accountant, having completed her Executive Development program at the prestigious Wharton School. With a Bachelor of Accounting Honours from the University of Zimbabwe and a Certificate in Accountancy from Harare Polytechnic College, she has built a remarkable career in finance.

She served as the Managing Director of Telone Zimbabwe (Pvt) Ltd from January 2013 to December 2022, where she played a pivotal role in driving the company’s growth. Additionally, she has held various managerial and directorial positions, including CEO at Rainbow Tourism Group from 2005 to 2012 and as a Non-Executive Board Director at FBC Holdings Limited since January 2013.

Her significant achievements include being named Businesswoman of the Year by the Zimbabwe National Chamber of Commerce in both 2014 and 2018, as well as receiving accolades for her marketing and HR orientation leadership.

Chipo is also an ACCA Fellow Member and a SAP Global Certified Financial Accounting Consultant.

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