Finance

Duduzile Shinya new ICAZ President

PHILLIMON MHLANGA

Medical Investments Limited’s chief financial officer, Duduzile Shinya has been elected the new president of the Institute of Chartered Accountant of Zimbabwe (ICAZ) for the term 2020/21.

She was elected at the institute‘s annual general meeting (AGM) on Friday which was held virtually due to the deadly coronavirus pandemic which restricts physical meetings.

Tumai Mafunga, a partner at Deloitte, was elected the senior vice president while the junior vice president is now Davison Charamba, the finance director at RPC Data of Botswana.

Shinya takes over from Fungai Kuipa, a partner at EY who stepped down after completing his tenure.

Before her election, Shinya was previously senior vice president and a member of the ICAZ since 2006.

Having served the profession for more than 20 years, Shinya becomes the third female president in ICAZ’s 102 years history.

In 2009, Emelia Chisango, the Econet Wireless Zimbabwe finance director, became ICAZ’s first female president while Gloria Zvaravanhu, the current ICAZ chief executive officer was the president in 2016/17.

Shinya holds a Bachelor in Accounting Science Honours degree from the University of South Africa (UNISA) as well as a Master’s in Business Leadership from the UNISA Graduate School of Business Leadership. 

Before her current role at Medical Investments Limited—whose flagship brand is The Avenues Clinic—Shinya was the chief financial officer at Amalgamated Brands, the investment holding Company for Cairns Holdings, Lobels’ Bread, Cailogistics and Cailo Marketing Services.  

Prior to that, she was the finance director at Schweppes Holdings Africa Limited.

With finance leadership and experience spanning over two decades and grooming at PricewaterhouseCoopers (PwC), where she spent over 11 years, Shinya brings discipline, diligence, focus and integrity into the accounting field.  

She now has more than five years’ experience as a Council member of ICAZ and has served on the Audit and Finance Committee as well as the Accounting Practices Committee.  

Shinya is the chairperson of the Women Chartered Accountants’ Network and chairperson of the Pathways Committee.  Duduzile is a member of the Public Accountants’ and Auditors’ Board Accounting Standards Committee. She is also a member of the Strategy Committee of the International Federation of Women Accountants.  

She currently sits on the Board of the Zimbabwe International Trade Fair and was instrumental in the setting up and implementation of the Montagu Clinic Covid-19 Relief Trust, set up to manage and treat people diagnosed with the deadly virus. 

Shinya has served on the CBZ Bank Board as an independent non-executive director and she has also sat on various boards including Old Mutual, Schweppes Zimbabwe Limited and ZINWA.

In her acceptance speech, she thanked members, stakeholders and partners of the institute that participated in the “I see” campaign which was held in the run up to the Virtual Winter School.

“The possibilities need to lead us to: technological advancement, re-engagement, our increased input to improve social profits, innovation, digital collaboration, and creativity. It is critical for me in my (presidential) year that I deliver on these visions as they fall directly into the ICAZ five-year strategy under Strategic objective 4, which focuses on enhancing delivery, process efficiency and digital capabilities,” Shinya said.

She said no company is safe from Covid-19 challenges as “we have seen large organisations “seeing fire”… so to speak”.

“The largest disrupters of note were themselves disrupted for example, Uber and Airbnb.  The Coronavirus came and created havoc and levelled the playing field or decimated a lot of thriving businesses.  Now is the time to take stock, consolidate and like the legendary phoenix, rise from the ashes,” Shinya said.

“Together as the leadership of ICAZ as we do this, the strategy of ICAZ needs to be redefined, to make it relevant to the new next normal.”

She desires to prepare ICAZ, its members and stakeholders for the next normal, by embracing the future now.

“We need to expand our collaborations and partnerships with others.  Having moved on to the virtual platform the world is now literally in the palm of our hands, let’s embrace it,” Shinya said.

 Mafunga is a Deloitte trained and qualified Chartered Accountant with more than 15 years’ experience.

He is the head of Audit and Assurance Zimbabwe. He is also a member of the Insurance and Pensions Committee at the Institute of Chartered Accountants of Zimbabwe.

Mafunga is part of the Deloitte & Touche Quality Evaluation Review team.

Charamba is a fellow member of ICAZ and Botswana Institute of Chartered Accountants.

He is the founding chairperson of the ICAZ Botswana Chapter.

He served articles with AMG Global Harare. He co-founded Addmath, a Gaborone based financial advisory firm, through which he is involved in facilitating a lot of start-ups.

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