NewsBy Nigel PfundeHarare — AMBITIOUS and bullish millionaire businessman Kuda Tagwirei is earmarked for a take- over of struggling ZSE listed retailer OK Zimbabwe considering the optics reflected in the new board changes seen by Express Mail Zim this week.Long-serving board chair Herbert Nkala has exited the OK Zimbabwe board after 13 years, paving the way for the appointment of new faces including a close ally of Tagwirei and gospel musician Everton Mlalazi who is singing for his supper with great vigour to please his principal .Singing for his supper: Technocrat and gospel musician Everton Mlalazi ‘co-opted’ into struggling OK Zim boardAnalysts who spoke to Express Mail Zim said Tagwirei strategically ‘smuggled’ in Mlalazi to sync in with a boardroom shift at a time when the retailer’s shareholding structure is evolving.Several branches have been closed and the landlord for most branches the late one Gonyora represented by her daughter has since partitioned the Glen Norah branch into a clinic,bottle store and ‘tuck shops’ , a move which can bring them better rentals revenue.The changes follow OK Zimbabwe’s recent rights issue, which raised US$20 million. After the capital raise, major shareholders include the controversial National Social Security Authority (NSSA) and investors represented by Datvest Nominees the asset management arm of CBZ Holdings(where Tagwirei has interests)Tagwirei’s investment vehicle Akribos Wealth Management has also increased its stake in OK Zimbabwe to about three percent up from 1.7 percent in 2023.The growing shareholdingcombined with the appointment technocrat -cum-musician Mlalazi to the board bares Tagwirei ‘s intentions .Market commentators say the dual presence of a trusted proxy in the boardroom and a rising equity position strengthens Tagwirei’s strategic leverage within the retailer, positioning him for deeper involvement in its future direction.While no formal takeover bid has been announced, analysts say that such incremental moves usually exposes corporate actions in listed companies.OK Zimbabwe has not publicly commented on any takeover speculation and there has been no official indication from Tagwirei or his associates regarding plans to assume control of the retailer.However, the latest developments are clear as pie stuff that it’s shifting balance of power at one of Zimbabwe’s largest retail chains as influential investors reposition themselves following the capital raise.For now, the board changes and evolving shareholding structure are being closely watched by the market for signs of what could come next.Tagwirei has set footprint in almost all sectors.To maintain his hegemony , he has dived into politics where he was controversially co-opted into the Zanu PF central committee.Meanwhile, the Seventh Day Adventist church elder is in a romantic holiday getaway with his wife overseas with images of the couple flooding the internet in a public display of affection .The couple is presumably refreshing and pondering their next move to usurp corporate hegemony and political business autonomy.Leave a ReplyCancel reply NewsBy Nigel PfundeHarare — AMBITIOUS and bullish millionaire businessman Kuda Tagwirei is earmarked for a take- over of struggling ZSE listed retailer OK Zimbabwe considering the optics reflected in the new board changes seen by Express Mail Zim this week.Long-serving board chair Herbert Nkala has exited the OK Zimbabwe board after 13 years, paving the way for the appointment of new faces including a close ally of Tagwirei and gospel musician Everton Mlalazi who is singing for his supper with great vigour to please his principal .Singing for his supper: Technocrat and gospel musician Everton Mlalazi ‘co-opted’ into struggling OK Zim boardAnalysts who spoke to Express Mail Zim said Tagwirei strategically ‘smuggled’ in Mlalazi to sync in with a boardroom shift at a time when the retailer’s shareholding structure is evolving.Several branches have been closed and the landlord for most branches the late one Gonyora represented by her daughter has since partitioned the Glen Norah branch into a clinic,bottle store and ‘tuck shops’ , a move which can bring them better rentals revenue.The changes follow OK Zimbabwe’s recent rights issue, which raised US$20 million. After the capital raise, major shareholders include the controversial National Social Security Authority (NSSA) and investors represented by Datvest Nominees the asset management arm of CBZ Holdings(where Tagwirei has interests)Tagwirei’s investment vehicle Akribos Wealth Management has also increased its stake in OK Zimbabwe to about three percent up from 1.7 percent in 2023.The growing shareholdingcombined with the appointment technocrat -cum-musician Mlalazi to the board bares Tagwirei ‘s intentions .Market commentators say the dual presence of a trusted proxy in the boardroom and a rising equity position strengthens Tagwirei’s strategic leverage within the retailer, positioning him for deeper involvement in its future direction.While no formal takeover bid has been announced, analysts say that such incremental moves usually exposes corporate actions in listed companies.OK Zimbabwe has not publicly commented on any takeover speculation and there has been no official indication from Tagwirei or his associates regarding plans to assume control of the retailer.However, the latest developments are clear as pie stuff that it’s shifting balance of power at one of Zimbabwe’s largest retail chains as influential investors reposition themselves following the capital raise.For now, the board changes and evolving shareholding structure are being closely watched by the market for signs of what could come next.Tagwirei has set footprint in almost all sectors.To maintain his hegemony , he has dived into politics where he was controversially co-opted into the Zanu PF central committee.Meanwhile, the Seventh Day Adventist church elder is in a romantic holiday getaway with his wife overseas with images of the couple flooding the internet in a public display of affection .The couple is presumably refreshing and pondering their next move to usurp corporate hegemony and political business autonomy.
Harare — AMBITIOUS and bullish millionaire businessman Kuda Tagwirei is earmarked for a take- over of struggling ZSE listed retailer OK Zimbabwe considering the optics reflected in the new board changes seen by Express Mail Zim this week. Long-serving board chair Herbert Nkala has exited the OK Zimbabwe board after 13 years, paving the way for the appointment of new faces including a close ally of Tagwirei and gospel musician Everton Mlalazi who is singing for his supper with great vigour to please his principal . Analysts who spoke to Express Mail Zim said Tagwirei strategically ‘smuggled’ in Mlalazi to sync in with a boardroom shift at a time when the retailer’s shareholding structure is evolving.
Several branches have been closed and the landlord for most branches the late one Gonyora represented by her daughter has since partitioned the Glen Norah branch into a clinic,bottle store and ‘tuck shops’ , a move which can bring them better rentals revenue. The changes follow OK Zimbabwe’s recent rights issue, which raised US$20 million. After the capital raise, major shareholders include the controversial National Social Security Authority (NSSA) and investors represented by Datvest Nominees the asset management arm of CBZ Holdings(where Tagwirei has interests) Tagwirei’s investment vehicle Akribos Wealth Management has also increased its stake in OK Zimbabwe to about three percent up from 1.7 percent in 2023.
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The growing shareholdingcombined with the appointment technocrat -cum-musician Mlalazi to the board bares Tagwirei ‘s intentions . Market commentators say the dual presence of a trusted proxy in the boardroom and a rising equity position strengthens Tagwirei’s strategic leverage within the retailer, positioning him for deeper involvement in its future direction. While no formal takeover bid has been announced, analysts say that such incremental moves usually exposes corporate actions in listed companies.
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