eBusiness Weekly
Business Writer
Admire Masenda, the chairman of the Zimbabwe Textile Manufacturers Association is among the potential candidates shortlisted to assume the role of chief executive of The Cotton Company of Zimbabwe (Cottco), this publication has learnt.
Known for his vast knowledge of the cotton value chain, Masenda is tipped as the front-runner to head the country’s largest cotton company. “He has been shortlisted among few other top executives,” said one source, who requested not to be named because the matter is private. “The board is conducting due process.”
Masenda, when contacted for comment recently could neither confirm nor deny whether he was called for an interview. Cottco chairman Sifelani Jabangwe said the process of recruiting the new chief executive was underway. Cottco is looking to replace Pious Manamike who resigned late last year. In November last year, Manamike alongside head of marketing Maxmore Njanji, Nembudziya legislator Justice Mayor Wadyajena, two other Cottco officials Chiedza Danha and Fortunate Molai appeared before the court facing allegations of corruption involving US$5 million
They were accused of embezzling funds meant to acquire bale ties and instead bought trucks.
In February this year, Harare Regional Magistrate Mr Taurai Manwere granted their application for refusal of further remand, saying there was an unnecessary delay in completing investigations by the State. Cottco is the country’s largest cotton company and supports nearly 400 000 families under the Presidential Free Inputs Scheme.
Running for the eighth straight season, the State-assisted scheme has seen an average of 400 000 households receiving free inputs. Despite occasional production dips during drought seasons, cotton output expanded from 28 000 tonnes in 2014, the lowest in nearly two decades to 145 000 tonnes in the 2017/18 season.
Apart from free inputs, farmers also receive tillage services and agronomy support. The scheme helped to fill in the gap left by private contractors who scaled down funding citing poor recoveries on their investments due to side marketing.
At peak, Zimbabwe produced 351 000 tonnes of cotton in the 2010/11 season and the Government has since set a target to raise production to 300 000 tonnes by 2025.
