Starafrica appoints new company secretary

Nyashadzashe Ndoro

Zimbabwe Stock Exchange listed company Starafrica Corporation Limited, an established sugar refinery group in Zimbabwe, has announced the appointment of Mr. Formai M. Myambuki as Acting Company Secretary, effective 1 January 2024.

This follows the resignation, due to retirement, of Aldo Musemburi, who has been with the company for 12 years and 4 months.

Myambuki is the current finance director of the company, which manufactures and markets sugar-based products under two well-known brand names, Goldstar Sugar and Country Choice Foods.

“Mr. Musemburi has been with the company for 12 years and 4 months. Under his leadership, the company successfully implemented the Secondary Scheme of Arrangement with creditors and navigated through the challenges posed by the COVID-19 pandemic,” the group’s chief executive officer, Robson Nyabadza said in a statement approved by the board.

“It is with profound gratitude that the Board thanks Mr. Musemburi for his service and wishes him well for the future.

“The company also takes this opportunity to advise of the appointment of Mr. Formai M. Myambuki, who is the current Finance Director, as Acting Company Secretary, effective 1 January 2024.

“Mr Formai M. Myambuki is a Chartered Accountant (Zimbabwe) with more than 14 years' experience. He holds a Bachelor of Accounting Sciences degree, Postgraduate Diplomas in Accounting Sciences, and Applied Accounting Sciences from the University of South Africa.

“The Board congratulates Mr. Myambuki on his appointment and wishes him success in his new role.”

Starafrica’s subsidiary companies are Starafrica Operations (Private) Limited and Silver Star Properties (Private) Limited, which is a property division involved in managing commercial, manufacturing, and residential premises in Zimbabwe.