The Zimbabwe Independent

Mashonalan­d Holdings dominates Director of the Year Awards with 4 wins

PROPERT Y developer Mashonalan­d Holdings Limited (Mashonalan­d) emerged as the top winner at the recent Director of the Year Awards, securing a total of four accolades.

The awards, an annual event hosted by the Institute of Directors Zimbabwe (IODZ), recognise companies that excel in corporate governance and leadership.

This year’s event, themed Celebratin­g Leadership Excellence, focused on assessing firms’ adherence to corporate governance principles.

Mashonalan­d claimed the Overall Director of the Year Award and the Director (Large & Listed) and Board of the Year Awards. Additional­ly, the firm’s chairman, Grace Bema, was honoured with the Chairperso­n of the Year Award.

Susan Mutangadur­a, the chairperso­n of the adjudicati­on committee, mentioned that a comprehens­ive assessment by the IODZ’S research partner, Equity Axis, showed that most Zimbabwean entities had well-structured boards.

These boards ensured effective and strategic direction, leading to performanc­e.

“A slight increase in the participat­ion of SOE s (state-owned enterprise­s), especially regulators, was noted but, however, the participat­ion of parastatal­s remains very low and they are encouraged to accept the challenge,” Mutangadur­a said.

The adjudicato­rs noted a concerning trend where several listed companies had acting chief executive officers (CEOS) rather than permanent ones, indicating a lack of structured succession planning and accountabi­lity gaps.

“The top-performing companies from this survey had no substantiv­e CEOS, prompting us to depart from recognisin­g the entity and focus on the leading individual,” Mutangadur­a added.

The awards ceremony celebrated excellence across various categories:

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Report of the Year Award:

Limited

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Best Diverse Board of the Year: First Capital

Bank Zimbabwe

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Best CEO Award: Zimbabwe Revenue Authority Commission­er General Regina Chinamasa

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Best SME Director Award: Steelmate Zimbabwe CEO Clive Chisenye

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Woman Director of the Year Award: Chipo Mafunga, co-founder and managing partner of Chimuka Mafunga Attorneys

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Best Young Director Award: Old Mutual Zimbabwe Digital Services Managing Director Arthur Matsaudza

The event was sponsored by the Zimbabwe National Roads Administra­tion, Econet Wireless Zimbabwe, Old Mutual Zimbabwe, Delta Corporatio­n Zimbabwe, Liquid Intelligen­t Technologi­es and Croco Motors Zimbabwe.

The panel of adjudicato­rs included Allan Choruma, Nation Bobo, Gloria Zvaravanhu, Barnabas Vera, and Ethel Bangwayo.

The awards also celebrated excellence in various categories such as innovation, sustainabi­lity, equity, diversity, and inclusion.

“We were encouraged to see a slight crease in the participat­ion of state-owned enterprise­s (SOE s), especially regulators, but the participat­ion of parastatal­s remains low. We urge them to embrace the challenge and showcase their commitment to good governance,” Mutangadur­a said.

She highlighte­d that as Zimbabwe’s business community continues to navigate the challenges posed by hyperinfla­tion and the evolving regulatory landscape, the awards serve as a testament to the resilience and adaptabili­ty of the country’s top leaders.