Resignation of Group Finance Director

The Chairman of the Board of Directors announces that Mr. Baldwin Guchu has stepped down from his position as Group Finance Director of Simbisa Brands Limited, effective 1 January 2025.

Baldwin joined Simbisa in 2018 and has been instrumental in driving the Company’s financial strategy, enhancing operational efficiencies, and supporting the Company’s expansion in existing markets as well as capital raising projects.

The Board extends its gratitude to Baldwin for his outstanding leadership and commitment and wishes him the best in his future endeavours.

Appointment of new Group Finance Director

The Board is pleased to announce the appointment of Mr. David Takudzwa Mudzengi (CA (Z)) as the Group Finance Director of Simbisa Brands Limited effective 1 February 2025.

David is a Chartered Accountant with extensive experience in financial reporting, corporate finance, management accounting, and enterprise risk management. He holds a Bachelor of Commerce Honours in Accounting from National University of Science and Technology. Over his 17-year career, has served in various leadership roles, including as Finance Director of Bakers Inn Sales & Distribution, Chief Finance Officer at Ecocash Holdings, Finance Executive at First Mutual Health and as a Senior Advisor – Transaction Advisory services at Ernst and Young. His accomplishments include leading complex corporate restructurings, developing fintech and insurtech business models, and overseeing multimillion-dollar transactions in the insurance, health, and asset management industries.

David’s extensive experience and proven leadership will be invaluable as Simbisa Brands Limited continues its growth trajectory.

The Board congratulates David on his appointment and is confident in his ability to make a meaningful contribution to the Company’s success.

By order of the Board,

Company Secretary
31 January 2025