TRADING UPDATE FOR THE SECOND QUARTER AND HALF YEAR TO 30 SEPTEMBER 2018
2nd Quarter and Half Year Trading Update
TRADING UPDATE FOR THE SECOND QUARTER AND HALF YEAR TO 30 SEPTEMBER 2018
2nd Quarter and Half Year Trading Update
Tichafa Rinomhota
Operations Director – Lager Beer, Sorghum Beer & Sparkling Beverages Businesses
BSC ENG
Tichafa Rinomhota was appointed Operations Director responsible for the overall business on 1 April 2024 having been in charge of the Lager Beer and Sparkling Beverages businesses since February 2023. He has served in the position of General Manager – Lager Beer Business from April 2021 having been appointed as the General Manager – Sorghum Beer in April 2017. Mr Rinomhota was the Group Technical Director from 2011 to 2017. He joined the group at the then National Breweries Division in 1999 as Engineering Manager and rose through the ranks to become the General Manager – Technical for the Lager Business in 2007. Previously he worked for several mining and construction companies. Mr Rinomhota attended the Cambridge Accelerated Leadership Programme in 2022.
Tichaona Joseph Chipangura
Managing Director (Designate) – United National Breweries
HND (MARKETING), POST GRADUATE DIPLOMA MANAGEMENT, MBA
Tichaona Chipangura was appointed Managing Director for United National Breweries (UNB) SA on 01 October 2024. Previously he was the General Manager Sparkling Beverages from April 2021 to September 2024. Mr Chipangura was the National Sales Executive Sparkling Beverages from 2015 – March 2021. He was the Sales and Distribution Executive for Lagers from 2010 to 2014. Tichaona was seconded on SAB Miller foreign immersion programme to Tanzania Breweries in 2009. Mr Chipangura commenced his career at Delta in 1993 as a Research Officer at United Bottlers (SBs), and grew through the ranks to Distribution Centre Manager in 1997 and then Regional Sales & Distribution Executive (Southern Region) in 2005.
Stanley Machinda Muchenje
Managing Director – Schweppes Holdings Africa Limited
BBS (HONS); IMM (SA), MPHIL MARKETING
Stanley Muchenje was appointed Managing Director of Schweppes Africa Limited on 1 May 2025. He was previously the MD of Afdis from April 2021 to April 2025. He moved to Afdis from Delta Beverages in March 2021, having joined the Group at National Breweries (Lager Beer) as a sales representative in 1997. Stan held various senior positions in Sales, Distribution, and Marketing at Delta Beverages. He spent two years on secondment to SABMiller from 2012 to 2015, during which period he had the opportunity to manage beer brands in various markets across Africa.
Benedict Mbanga
NON-EXECUTIVE DIRECTOR
BCompt, MBA, FCCA, LLM
Benedict Mbanga joined the board in August 2022 and is a member of the Audit Committee.
He is the Co-Founder and Managing Director of Mangwana Capital (Zimbabwe & Mauritius), an entity
that is registered with the Securities Exchange Commission as an Investment Advisor, providing various corporate finance services such as business valuations, mergers and acquisitions, due diligence, and capital raising.
Mr Mbanga served articles and became a partner with Deloitte and Touche (Zimbabwe) audit assurance and financial advisory. He left practice in 2018 having occupied senior positions in the broader Deloitte Africa franchise, and the Zimbabwe and Central Africa business units.
He serves as a director on various Boards of Mangwana Capital’s investee companies domiciled in the UK, Zambia and Zimbabwe.
Faith Nzilani Musinga
GROUP LEGAL & COMPANY SECRETARY
(LLB), GIBS LEADERSHIP DEVELOPMENT
Faith Musinga joined Delta as Group Company Secretary on 01 February 2022. She was recently with PPC Zimbabwe Limited as the Head of Legal and Compliance incorporating Company Secretarial role from 2014 to 2021. She previously worked at Ariston Holdings Limited, PG Industries Zimbabwe and as a Magistrate with the Judicial Services Commission.
Rold Baloyi
General Manager – Sparkling Beverages
BCom Marketing (Hons), EMBA
Rold Baloyi was appointed General Manager for Sparkling Beverages in April 2025 and became a member of the Group Management Committee, having re-joined Delta Corporation in 2010 after an earlier tenure from 2003 to 2007. Over the years, Mr. Baloyi has held several key roles within the organization, including Sales Executive and Sales and Marketing Manager. From 2020 to 2021, he served as Commercial Executive for the Sorghum Beer Division. He worked for a consumer goods company in sales and marketing.
Muchaneta Ndachena
Managing Director – Afdis
BAcc,CA(Z),MBA
Muchaneta Ndachena was appointed Managing Director for African Distillers Limited on 1 April 2025. Muchaneta is a Chartered Accountant by profession and holds a Bachelor of Accountancy degree and an MBA from the University of Zimbabwe. She completed her articles of clerkship with Deloitte & Touché before joining Delta Beverages in 1997 at the Lager Beer Division. She held various positions of increasing seniority in the Beverages Business until she joined African Distillers as a Finance Director in November 2012.
Arnold Chinherera
Group Financial Controller
BCompt (Unisa), CA (Z)
Arnold Chinherera was appointed Group Financial Controller in April 2025 becoming a member of the Group Management Committee. He joined the Group in 2010 as an Accountant at Sparkling Beverages and progressed through various finance roles with stints as Finance Manager at the Delta Transport Division, the Sorghum Beer Division and as the Finance Executive at Sparkling Beverages and Lager Beer Business. He moved to Head Office as the Group Finance Executive in July 2024, focusing on reporting and profit improvement initiatives. He trained with KPMG Chartered Accountants.
Charity Chiratidzo Jinya
NON EXECUTIVE DIRECTOR
(BA Econ (Hons), DBS (Hons Causa), Fellow Institute of Bankers)
Dr Charity Chiratidzo Jinya joined the board in April 2016 and was appointed to the audit committee in April 2020. She retired from Nedbank where she was the Managing Director of Nedbank Zimbabwe Bank in 2020. Dr Jinya has previously served as the President of the Bankers Association of Zimbabwe and as a Director of Bindura Nickel Corporation. She sits on the boards of Old Mutual Investment Group (Zimbabwe), Dulys Holdings Limited and Mutapa Investment Fund as well as on the Monetary Policy Committee of the Reserve Bank of Zimbabwe. Dr Jinya had a distinguished career in banking, having also served as managing director and executive director of leading listed banks in Zimbabwe and Uganda. She was crowned as the Director of the Year 2015 awarded by the Institute of Directors, Zimbabwe. She is involved with various charities in the education and church sectors and youth mentorship programmes.
Quinton C Kanhukamwe
NON-EXECUTIVE DIRECTOR
Prof Engr. Kanhukamwe joins the Board in July 2025 as a Non-Executive Director. He is currently the Vice Chancellor of Harare Institute of Technology with over 30 years of experience in Higher Education and is a former Faculty Dean, director of Techno Park at the National University of Science and Technology, Zimbabwe.
He is a holder of PhD in Mechanical Engineering, MSc in Metallurgical Engineering, IIEP Certificate in Higher Education Management and a Certificate in University Management.
Quinton is the Chairperson of the Southern African Regional Universities Association (SARUA) Board. He has led numerous collaborative projects, including the Zimbabwe Research Network (ZimREN) and has published widely. A two-time Presidential CEO of the Year recipient (2022 and 2023). For the past two decades he has been providing leadership in several boards including Marondera State University.Foundation Committee, UNIDO Cleaner Production, NAMACO, Zimbabwe Institute of Engineers (ZIE), UDCORP, Engineering Council of Zimbabwe (ECZ), ZUPCO Board Chairman and former Board member of AAU.
Cherian Kurian
NON-EXECUTIVE DIRECTOR
Mr. Kurien joins the Board as a representative of ABInBev where he is Chief Finance Officer, Vice President Finance and Expansion, Africa Zone.
He has led multicultural teams across the African continent, India, China, South Korea, Vietnam, Australia, and Denmark working across functions including Sales, International Trade, Technology, and Mergers & Acquisitions. Cherian has also worked in the consumer goods and shipping sectors. Cherian is a Certified Financial Analyst (CFA) charter holder with an MBA from Harvard Business School, Bachelor of Arts (Honors) Mathematics and is a member of the South Asian Business Association, General Management Club.
George Gapu
NON-EXECUTIVE DIRECTOR
George is an accomplished legal practitioner and currently a Senior Partner at Scanlen & Holderness one of Zimbabwe’s oldest legal practices. He holds an LLB from the University of Zimbabwe, Diploma in International Environmental Law from the United Nations Institute for Training and Research (UNITAR) and Certificate in ESG Investing from the CFA Institute in South Africa.
He has vast experience in Corporate and Commercial Law handling mergers and acquisitions, business restructuring and syndicated financing transactions. Mr Gapu has been involved in dispute resolution mainly in the manufacturing, banking, agriculture, mining and financial services sectors.
George has a keen interest in Environmental Law and co-founded the Zimbabwe Environmental Law Association, the leading environmental law association in the country advocating for sustainable development and environmental justice, where he remains active as chairperson of its Executive Committee and a director.
Alex Makamure
EXECUTIVE DIRECTOR FINANCE
B Acc (Hons); FCA (Z); LLB; FCIArb
Alex Makamure was appointed as the Executive Director – Finance with effect from 1 April 2021. He was the Company Secretary and Group Treasurer from April 2011 and had functional responsibility for Corporate Affairs and Supply Chain and other Group Services such as tax administration and executive compensation. Mr Makamure joined the Group in 1998 as Finance Manager at Chibuku Breweries Division becoming Divisional Finance Director in 2002. He served as the General Manager Finance for the combined beverages business from 2003 until his appointment as Company Secretary in January 2006.
Mr Makamure sits on the boards of Schweppes Holding Africa Limited, African Distillers Limited and United National Breweries (RSA) as a company representative. Alex is a board member at Medical Investments Limited (Avenues Clinic).
Kennedy Pomerayi Munda
HUMAN RESOURCE DIRECTOR
BSC PSYCHOLOGY (HONS) (UZ), DIPLOMA IN PERSONNEL MGMT (IPMZ), MSC STRATEGY (CUT) , MBA (NUST)
Kenny Munda was appointed Human Resources Director in April 2021. He re-joined the Group in 2012, as HR Executive for Lager Beer, a position he held until March 2021. He had been with OK Zimbabwe from 1998 – 2003 before and after its demerger with Delta. He moved from OK to Delta Beverages as Human Resources Manager in
2003 and left in 2005 to work for DHL International as HR Manager. Mr Munda has recently attended the Cambridge Accelerated Leadership Programme.
Kenneth Mapingire
MANAGING DIRECTOR – NATBREW
BBS (Marketing), Dip (IMM), MBA
Kenneth Mapingire was appointed Managing Director of National Breweries Plc-Zambia in July 2022. He re-joined Delta in 2013 having previously been with Group from 1997 to 2003 in the former Chibuku Breweries Division. Kenny has served in various managerial and executive positions in sales and distribution, channel marketing and operations management largely within the Sorghum Beer business. He has previously worked in various capacities in the fast-moving consumer goods sectors in Zimbabwe and Malawi.
Todd Moyo
BOARD CHAIRMAN
B Acc (Hons); FCA (Z); CA (SA)
Todd Moyo joined the board in April 2016 and was appointed as Chairman of the Board and Company on 01st November 2024. Previously he was the Chairman of the Audit Committee from January 2020. He sits on a number of boards. Todd participates in several charitable trusts and committees in the educational, medical services and civic arenas. He actively participates in the activities of professional associations such as the Institute of Chartered Accountants of Zimbabwe and industry bodies such as the Confederation of Zimbabwe Industries.
Matlhogonolo Mothibedi Valela
CHIEF EXECUTIVE OFFICER
B Tech (Accounts), CA (Z)
Matlhogonolo Valela was appointed as Group Chief Executive Officer on 1 July 2021. He had been Executive Director–Finance since June 2011 and assumed the role of Chief Operating Officer on 1 April 2021. Mr Valela joined the Group in December 1996 as an accountant at the then National Breweries division. He occupied various roles of increasing seniority in operational finance and accounting, becoming the Group Treasurer in 2003. Matts sits on the boards of the Company’s subsidiary companies and associates; African Distillers, Nampak Zimbabwe, National Breweries Plc Zambia, United National Breweries (RSA) and Schweppes Holdings Africa.
Tumai Mafunga
GROUP TREASURER
BCompt (Hons), CA (Z)
Tumai Mafunga joined the Company as Group Treasurer in July 2021. He was with Deloitte and Touche Africa for 21 years and was a partner for 12 years. During his career at Deloitte, he was Head of Audit and Assurance Services Zimbabwe and part of Africa Management Committee and Head Telecommunications, Media and Technology Central Africa among other senior positions. He is a past president of the Institute of Chartered Accountants of Zimbabwe.
Johnphas Gweru
GENERAL MANAGER-DELTA TRANSPORT
BSC ECON (UZ), MCIL (TRANSPORT LOGISTICS) UK
Johnphas Gweru was appointed the General Manager – Delta Transport in March 2020 and became a member of the General Management Committee in February 2023. He joined the Group in 2001 as a Distribution Manager at United Bottlers. Johnpas has served in various managerial positions in sales and distribution, freighting and logistics and operations management. He previously worked for a passenger transport company.
Gary Reade
Managing Director – United National Breweries (UNB) (SA)
Diploma In Leadership & Strategy (GIBS)
Gary Reade was appointed Managing Director of UNB in February 2023. Gary joined UNB SA in August of 2006, serving in various roles of increasing responsibility in commercial and brewery management. He was appointed the UNB Sales & Distribution Director in 2016 and assuming the role of Acting Managing Director of UNB in May of 2022.
Lucky Zibusisio Nkunzane
GENERAL MANAGER – LAGER BEER BUSINESS
BSC (BIO & BIOCHEM) (HONS)(UZ), DIP MASTER BREWER
Lucky Nkunzane was appointed General Manager – Lager Beer in February 2023. He joined the Group in 1993 as a trainee brewer at the National Breweries Division and promoted to brewing manager in 1998 covering both Belmont and Southerton breweries.He was appointed the Plant Manager – Belmont Brewery in 2009 and moved to Southerton Brewery in 2017. He became the Lager Beer Technical Executive with responsibility for Kwekwe Maltings in 2018.
Marshall Pemhiwa
GENERAL MANAGER – SORGHUM BEER ZIMBABWE
BSC. (HONS) PSYCH; HR DIP; DIP OCC. PSYCH; MBA
Marshall Pemhiwa assumed the position of General Manager – Sorghum Beer Zimbabwe in April 2021 having previously occupied the position of Human Resources Director since April 2011. Marshall joined the Group in March 1998 as a Graduate Trainee Psychologist & Human Resources. He held various management positions in the field of human resources and industrial relations, assuming the position of HR Executive – Beverage Operations in 2009. He is a past president of the Institute of People Management and is involved in committees at Dominican Convent School Harare.
Irimayi Muzorewa
MARKETING DIRECTOR
BBS (MARKETING & MANAGEMENT), EMBA
Irimayi Muzorewa was appointed Marketing Director for Delta Beverages in June 2021. Mr Muzorewa joined Delta in 2011 as a Channel Marketing Executive. He has previously worked at Unilever Zimbabwe, Nelspot Brands, British American Tobacco and other fast-moving consumer goods entities in sales and marketing.
Roselyn Edith Mbelengwa
SUPPLY CHAIN DIRECTOR
B ACC (HONS) CA(Z)
Roselyn Mbelengwa was appointed as Supply Chain Director in April 2021, becoming a member of the Group Management Committee. Mrs Mbelengwa joined Delta in 2004 as a Finance Executive at Head Office. She moved in the same role to Delta Transport in 2017. She was appointed as Head of Procurement in 2018. Roselyn had previously worked in finance in other service and manufacturing enterprises.
Ms Bridget Ngwakwana Makhura
NON-EXECUTIVE DIRECTOR
BSc, MBA, MDP & MSc
Ms Bridget Makhura joined the Board in May 2024 as a representative of AB InBev, where she is the Vice President of People at South African Breweries. Bridget holds a Master of Business Administration qualification and completed the Management Development Programme from the Gordon Institute of Business Science and a Master of Science in Chemistry, obtained from the University of Witwatersrand. Bridget has over
16 years’ experience across various industries in research, logistics and consultancy. This includes over 8 years’ experience at The South African Breweries. Bridget is a member of
the Remuneration and Nominations committees.
Dave Mange
IT DIRECTOR
BSC (UZ); MBL (UNISA); MSC (BE.ECON)
Dave Mange was appointed to Director Information Technology in 2011. He joined the Group’s IT Internship programme in 1990. Mr Mange held various management positions before his appointment as General Manager Information Technology in 2007.
Jonas Mushosho
NON-EXECUTIVE DIRECTOR
B Compt; B Acc; FCIS; CA (Z)/(SA)
Jonas Mushosho joined the board in August 2020 as a nominee of the Old Mutual Group. He retired from Old Mutual in December 2019 where he was the Managing Director of Old Mutual -Rest of Africa and Chief Executive Officer of Old Mutual Zimbabwe.
Jonas worked in various leadership roles at Old Mutual since 1990. He also occupied senior roles in the Department of Taxes (now ZIMRA) where he has subsequently served as a non-executive director. Mr Mushosho has extensive international business experience having led business portfolios in diverse markets on the African continent, particularly in the financial services sector. He is passionate about coaching, nurturing, developing and mentoring business talent.
Mr Mushosho is a member of the Zimbabwe Open University Council.
Richard Rivett-Carnac
NON-EXECUTIVE DIRECTOR
BCom BBS CA(SA)
Richard Rivett-Carnac was appointed to the Board in November 2020 as a representative of AB InBev He is currently the CEO of South African Breweries. Previously he was the Vice President Finance for AB InBev Africa Zone. Mr Rivett-Carnac (Boris) is a Chartered Accountant and was the director responsible for mergers and acquisitions and treasury at the Africa Zone until his elevation to the VP Finance role in September 2020. He has spearheaded the company in its divestiture from the bottling and sorghum beer entities. He has previously worked for SABMiller in both South Africa and the United Kingdom on mergers and acquisitions, public flotations, and various due diligence processes. He has also worked for an investment bank and as portfolio analyst.
Mr Rivett-Carnac is a member of the Audit Committee.
Emma Fundira
NON-EXECUTIVE DIRECTOR
(BSc Econ (Hons)
Mrs Emma Fundira joined the Board in January 2019 and currently chairs the Remuneration and Nominations Committees. Mrs Fundira is the Managing Director and co-founder of Finesse Advisory Services, a financial consultancy which provides corporate financing and asset management solutions. She had a career in merchant banking with the country’s leading financial institutions. Emma holds a BSc Economics (honours) from the University of Zimbabwe where she has also lectured in economics. Mrs Fundira chairs the Cimas Medical Aid Society board and is a non-executive director of the Reserve Bank of Zimbabwe, Boost Fellowship and a Trustee of African Women’s Entrepreneurship Program. She has recently served on the boards of First Capital Bank Zimbabwe (formerly Barclays Bank and Nampak Zimbabwe. She has served on the boards of leading private schools.
Dr Alex Marufu
NON-EXECUTIVE DIRECTOR
BSc, MSc, MBA, PhD
Dr Marufu was appointed to the Board in August 2021. He is a highly experienced technology executive with over 30 years’ experience in managing technology projects and businesses. He is SAP Certified with vast network, Technology Business Development, Electronic payment Systems and Sales experience. He has managed projects worth hundreds of millions of US Dollars in many countries from South Africa to Nigeria. Currently he is the regional General Manager of a listed Records Management business. He has served on numerous boards of technology companies and is a member of the CBZ board of directors.
Mr Sternford Moyo
CHAIRMAN
Mr Sternford Moyo joins the Delta board as a director and chairman of the Board. Mr Moyo is the Chairman and Senior Partner of the law firm Scanlen and Holderness and has recently assumed the position of President of the International Bar Association (IBA), the first IBA President of African descent in the history of the 74-year-old organisation. Mr Moyo is a leading lawyer who specialises in mining, corporate and commercial law and is active in local, regional and international lawyers’ associations which he had occasion to chair. He is currently a director of PPC Zimbabwe, Padenga Holdings and Alpha Media and chairs the Schweppes Zimbabwe board. He is a former chairman of Stanbic Zimbabwe and Zimra among other directorships.
Mr Moyo holds law degrees from the University of Zimbabwe.
Dr Munyaradzi Godfrey Nyandoroh
OPERATIONS DIRECTOR – SORGHUM BEER BUSINESS
BSC (HONS) (UZ); MSC (UZ); PHD (KENT)
Dr Munyaradzi Nyandoroh was appointed the Operations Director – Sorghum Beer, overseeing the Sorghum Beer operations in Zimbabwe, Zambia and South Africa in April 2021. He was the General Manager – Lager Beer Business since April 2014. He joined the Group in 1986, working in the technical department of the then Chibuku Breweries Division. He left the organization in 1992 to pursue further studies and re-joined in 1996 as Technical Director for Chibuku Breweries. He was appointed General Manager for the Agricultural Services department in 2002, and as General Manager – Beverages Operations for the Southern Region and thereafter the Northern Region.
Jonathan Andrew Kirby
NON EXECUTIVE DIRECTOR
B. Acc: CA(SA)
Jon Kirby joined the board in August 2012. He is a member of the Audit Committee. Mr. Kirby retired from the AB InBev Group in July 2017 where he was the Vice President Finance of the Africa Zone and a long-time Finance Director of the then SABMiller Africa, a group he joined in 1992. He has held various finance positions in SABMiller Africa and Asia (now AB InBev) and sat on a number of subsidiary company boards. He is a director on the boards of ZamBeef Products Plc Zambia and Consol Glass (Pty) (South Africa).
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