Nyashadzashe Ndoro
President Emmerson Mnangagwa’s lawyer and a Senior Partner of Dube, Manikai and Hwacha law firm Edwin Isaac Manikai, has been appointed as independent non-executive chairman of National Foods Holdings Limited with effect from January 24, 2024.
This follows the resignation of Todd Moyo chairman on January 22, 2024.
“Having served on the Board of NFHL for 23 years, Mr. Todd Mayo resigned as Chairman on 22nd January, 2024. The Board would like to thank Mr. Moyo sincerely for his service and invaluable contribution to the Group over many years. We are delighted that Mr. Moyo will remain on the NFHL Board as a Non-Executive Director,” Leigh C Howes, Group Legal Counsel and Company Secretary said.
“As a consequence of Mr. Moyo’s resignation as Chairman, NFHL, is pleased to announce the appointment of Mr. Edwin Isaac Manikai as Independent Non-Executive Chairman of the Board of NFHL with effect from 24th January 2024.
“Edwin Isaac Manikai is a Senior Partner of Dube, Manikai and Hwacha, a law firm which he co-founded in 1998. He holds a Bachelor of Law (Hons); and a Bachelor of Laws (LLB), from his studies at the University of Zimbabwe. Edwin was admitted as a legal practitioner in 1986 and has 38 years’ experience as a lawyer focusing on commercial legal practice.”
“He commenced practice as an attorney with Gill, Godlonton and Gerrans in 1985 where he was a partner until May 1998 at which point he and his partners established Dube, Manikai and Hwacha. During his long and distinguished career, Edwin has advised on a number of significant commercial transactions across all sectors of the economy.
Manikai is the current chairman of the President’s Advisory Council, Chairman of the Dadaya Mission Trust. He also sits on the Boards of the Reserve Bank of Zimbabwe and British American Tobacco Limited.
The top lawyer represents Mnangagwa in the case where the Zanu PF leader and five senior party officials were taken to court over the contentious installation of his client as the country’s leader in November 2017.
Sybeth Musengezi took the Zanu PF leader to court over his ascension to the top post.
National Foods is the largest manufacturer and marketer of stockfeeds, snacks, treats, cereals, edible oils, and basic foods
It is also heavily involved in contract farming initiatives contributing to its raw materials needs. The company has manufacturing sites in Harare, Bulawayo, and Mutare.
It has a 40% stake in Pure Oil Industries, the maker of Zimgold brand of edible oil. National Foods has a 50% stake in a logistics joint venture with Equity Distribution Services.
The shareholding structure of National Foods comprises diversified Zimbabwe Stock Exchange listed company Innscor Africa Limited, which holds the majority 37.7%. Tiger Brands Limited, a Johannesburg Stock Exchange listed company, follows with 37.5% shares.
The two companies have interests in fast-moving consumer goods.
The National Foods Workers' Trust Ltd has 9.85% stake while Old Mutual Investment Group Zimbabwe (Pvt) Ltd 3.92% control National Social Security Authority has 1.76% followed by Local Authorities Pension Fund (Zimbabwe) with 0.44% shares.
The National Social Security Authority Staff Pension Fund has 0.31% while the Zimbabwe Electricity Industry Pension Fund has 0.30% shares.
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