African Sun in change of guard

by Editorial Team
2 minutes read

The African Sun board of directors has effected changes to its executive which will see current Chief Executive Officer, Edwin Shangwa being replaced by Peter Saungweme at the end of December.

This was announced by the board in a media statement. The changes will also see the company’s incumbent Finance Director, Believemore Dirorimwe being replaced by Ndangariro Mutizwa at the end of this month.

“Saungweme assumes the role of CEO taking over from Edwin Timothy Shangwa, the current Managing Director who is stepping down from his role after diligently serving the company for 42 years in various positions. Edwin will leave his current role on 31 December 2021. To facilitate a smooth transition, Edwin would, however, be retained in a consulting capacity until 31 May 2022,” said the board.

Saungweme is a chartered accountant by profession and is currently the CEO of the Johannesburg Stock Exchange-listed Arden Capital Limited.

“In line with Ndangariro Mutizwa’s appointment as the CFO, Believemore Dirorimwe, who has served the company in various roles for 13 years including 6 years as the Finance Director, would be stepping down from his role on 30 November 2021,” read part of the board’s statement.

Dirorimwe’s replacement is also a chartered accountant who has worked for Dawn Properties, Masawara PLC and Mashonaland Holdings.

The leadership shakeup at African Sun follows the company’s acquisition of Dawn Properties during the course of the year, effectively reversing the earlier unbundling of its property portfolio. The unbundling was driven by the need to unlock value in its properties.

African Sun is a major player in Zimbabwe’s business events and business tourism sectors. It owns the Kingdom At Victoria Falls and the Elephant Hills Resort and Conference Centre, which are located in the resort city of Victoria Falls. The two facilities host many local and international conferences.

The group also owns hotels in Harare, Bulawayo, Mutare, Masvingo and Nyanga among other places.

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