Cafca hunts for CEO
LISTED cable manufacturer Cafca Limited is hunting for a chief executive officer to provide clear and sound leadership direction for the company.
Rob Webster, who had been Cafca managing director since 2006, resigned in December last year, leaving the firm with a strong balance sheet and commendable annual financial performance.
His departure came shortly after Alvord Mabena, who was a board member, resigned in November of the same year. Valcol Executive Appointments, a division of the Valcol Group, has been tasked to look for a suitable candidate.
“This exciting role is an outstanding opportunity for an experienced business leader, preferably over 40, to significantly impact our client’s business and shape the future direction and operational performance built up after trading successfully for many decades,” the advert read in part.
“The company has enjoyed considerable success across several critical sectors and continues to grow and open new markets.”
Valcol said the incumbent would be expected to provide clear and sound leadership direction and decisions through the firm’s visionary policies and procedures to ensure that the company continues to succeed as a renowned supplier and manufacturer.
“Your demonstrated leadership skill in implementing good strategic objectives and delivering the company’s future financial performance is required,” it said.
“As the core driver, you must direct and control the divisional and functional heads with advice and leadership, managing the internal operational activities of the various departments in agreement with the strategy, policies, goals and objectives set by the chairman and board of directors.”
According to Cafca’s 2023 abridged report, the group fulfilled all orders in the year, thanks to its finished goods stock holding and short production lead times. The volume of sales remained similar to the previous year, but copper cable sales saw an increase of 9%.
Inflation-adjusted turnover significantly grew from ZWL$75 billion in 2022 to ZWL$164 billion in 2023, influenced by a volatile exchange rate, sales mix changes and copper price movements. The inflation-adjusted after-tax profit of ZWL$51,3 billion was nearly identical to the historical cost after-tax profit of ZWL$50,8 billion.
The firm’s special strategy includes expanding its export footprint, enhancing the utility business domestically, acquiring more mining sector customers and launching an increased solar cable offering.
Cafca manufactures and markets copper and aluminium electric cables and wires. The company also produces and distributes high voltage equipment and related cable products. Its primary markets are southern and central Africa, although it has an export footprint which extends to parts of Europe, including Russia.
Established in 1947, Cafca is a subsidiary of CBi Electric African Cables (South Africa) which is owned by Reunert Limited (South Africa). It is listed on the Zimbabwe Stock Exchange; Johannesburg Stock Exchange and London Stock Exchange.-newsday
