Ex-KFHL boss Makamba joins Meikles Africa

By Golden Sibanda

EX-KINGDOM Financial Holdings Limited chief executive Mr Onias Makamba has crossed floors to join Meikles Africa Limited.

Official confirmation of Mr Makamba’s move could not be obtained, but Herald Business can reveal that the former KFHL chief was recently appointed financial director for Meikles Africa.

Mr Makamba replaces previous financial director Mr Bryan Thorn, who left the group late last year to join conglomerate TA Holdings.

Meikles Africa had promised to issue an official response to Herald Business yesterday on the appointment of Mr Makamba, but had not done so by the time of going to press.

"Mr Makamba is now the new financial director for Meikles Africa. If you call Meikles Africa, you can get hold of him," said a source.

Meikles Africa chairman Mr Farai Rwodzi and Mr Makamba were not reachable on their mobile phones by the time of going to print.

Ironically, Mr Nigel Chanakira is the former chief executive of Kingdom Meikles Africa and Mr Makamba’s appointment adds weight to market rumours that he (Mr Chanakira) forced him out of KFHL over the way he acted during negotiations for the de-merger of KML.

Media reports alleged that Mr Makamba was sent on leave after his relationship with Mr Chanakira reached rock bottom for allegedly concealing material information about the KML de-merger.

The KFHL and Meikles Africa marriage collapsed in the middle of last year after irreconcilable differences between Mr Chanakira and South Africa-based former chairman John Moxon.

Mr Makamba was allegedly part of seven other senior managers who left KFHL after disagreeing to changes proposed by Mr Chanakira. Mr Makamba is understood to have been given a US$200 000 golden handshake.

The seven other executives included the managing director for Kingdom Bank Mr Mark Wood, micro finance arm boss Ms Virginia Sibanda, managing director for stockbroking Mr Itai Munyeza, director public affairs and communications Ms Farai Mpofu, head of international banking Mr George Mushawatu, head of information technology Mr Kembo Kampira as well as the company secretary, Mr Farai Mafunga.

Market sources also alleged that the former KFHL CEO was chucked out to create space for returning founder and shareholder, Mr Chanakira.

Mr Chanakira has since returned to KFHL and holds swaying influence, but it is not yet clear what position he occupies.