Charles Msipa has resigned as board chairman of the Industrial Development Corporation Zimbabwe (IDCZ) to concentrate on a new assignment, the Ministry of Industry and Commerce said yesterday.
The business executive resigned last month and was replaced by Winston Makamure.
Msipa, alongside Marjorie Mutemererwa, Makamure, Edward Tome, Joyce Malaba, Spiwe Nyamatore and Elizabeth Rabvukwa, was appointed on the board in May last year.
“The Ministry would like to confirm that the former chairman, Msipa resigned in order to focus on his chairmanship of the National Competitiveness Commission. The institution under the Ministry of Industry and Commerce which was recently constituted is expected to lead the Government’s strategic interventions to improve Zimbabwe’s competitiveness ranking and facilitate a conducive business operating environment as we move the economy up the value chains,” the Ministry said yesterday.
Apart from its development financing role, IDCZ has vast investments covering vehicle assembling, cement and chemical manufacturing, real estate, fertiliser production, edible oils manufacturing, mining, industrial engineering among many others.
Msipa leaves IDCZ at the time the institution is searching a substantive general manager following the lapse of Ben Kumalo’s contract in December.