ZAMBIA Railways Limited (ZRL) has appointed multiply-qualified entrepreneur and business executive Cuthbert Malindi as managing director.
The vastly experienced mechanical engineer and accountant has worked at some of the leading companies in central and southern Africa.
His resume places in good stead to revive the struggling ZRL crying out for major investment.
Apart from being a mechanical engineer and chartered accountant, Mr Malindi is also a chartered financial expert.
A statement by the ZRL board of directors says Mr Malindi’s appointment is effective January, 2, 2025.
He was unveiled on Tuesday this week and hit the ground running today.
The ZRL board says new chief executive officer is also an experienced Venture Capitalist, business transaction advisor and an investment executive with over 25 years of success in leading investment and business growth initiatives public and private organisations.
“He has vast experience in transportation and logistics as well as a track record of success in Government and pension fund backed equity and vaenture capital funds in South Africa, Botswana, Namibia and Zambia,” the statement reads.
In his previous roles, Mr Malindi a multi-skilled executive has successfully provided strategic and investment advice on capital raising, business set up and growth and restructuring across the logistics, technology, Fintech and agriculture value chain sectors in Southern and East Africa.
His appointment ends two and nine months of ZRL not having a substantive chief executive officer following the departure of Chrstopher Musonda in December 2021.
Mr Musonda, who was in charge for six years, serving three two-year contracts in row, saw Fred Mwila, an engineer act for two years.
When Mr Mwila’s contract was not renewed, Mr Godfrey Fumbeshi, who has just paved way for Mr Malindi, acted for nine months.
In 2012, ZRL received US$120 million Eurobond to revive its business business.
By Benedict Tembo
I hope the politically minded board will not manhandle him like they did to Prof. Clive Chirwa. I hope Malindi is also aware about board members often corrupt practices of squeezing favors from an unsuspecting CEO, as that may come to haunt him later.
What a one sided article. Zambian journalists don’t know how to dig and present an objective report.
There’s no angel on this planet so when you give me positives on an individual, even if he deserves them, give me his negatives too. You are obliged to prepare us for both failure and success When the s#t hits the fan we should all be prepared otherwise we end up being too dissapointed
Why no mention passed positions, Companies, and timeline ??
Half baked report besides being too one-sided
Let’s hope he can revive ZR to be competitive against truckers………
FWD2031