BETA Holdings Zimbabwe, one of Zimbabwe’s leading infrastructural suppliers, has merged with Zambian company Kalulushi Clay Bricks Zambia Limited which has since registered in Mauritius as BETA International company.
The deal which took effect in August will see Godfrey Manhambara assuming the post of group chief executive officer of BETA International whose board is chaired by Albert Nhau.
Rob Gillies has been appointed production director, while Cynthia Chinzwina heads the commercial division with Simbabarashe Chiurayi the acting finance manager.
“BETA International has plans to expand further into Southern and Central Africa in five years. The vision is to create solid regional infrastructure inputs manufacturers over the next few years to serve the requirements of these young developing economies,” said Manhambara.
As a result of the merger, Manhambara said, KCB will undergo major structural operation changes including the stepping down of managing director Rushil Patel who will assume the same role at Inside Capital.
The integration of the two companies is set to take place in three months until December.
“The merger will strengthen the BETA Group’s market leadership position in the infrastructural input market in Southern and Central Africa, through a combination of KCB’s energy efficient manufacturing expertise and BETA’s quality centric, innovative production systems and production scale economies to provide customers high quality products,” added Manhambara.
BETA Holdings incorporates BETA Concrete, BETA Logistics and BETA Bricks, the first brick manufacturing entity in Zimbabwe to receive international certification for Integrated International Standards Association (ISO) management systems.
BETA Bricks last year invested $10 million in building a factory in Goromonzi.
The factory — with an annual capacity of 180 million bricks — is expected to be completed in two years and will create about 400 direct jobs. The company’s three factories in Mt Hampden in western Harare have an annual capacity of about 170 million bricks.
– Financial Express