By Business Reporter–Proplastics Limited Chief Executive Officer Kudakwashe Leo Chigiya has resigned, marking yetanother high-profile executive departure in Zimbabwe’s turbulent corporate landscape.
Chigiya officially stepped down on 19 February 2025. His journey with Proplastics began in 1993 as a Graduate Trainee in Plastics Technology.
Over the years, he climbed the ranks, holding key roles such as Quality Controller, Quality Assurance Manager, and Technical Manager, where he played an instrumental role in several pioneering manufacturing projects.
In 2003, he left the company to further his career in Plastics Technology in South Africa but returned on 29 May 2015 to take up the position of Chief Executive Officer.
During his tenure, Chigiya spearheaded strategic initiatives that strengthened Proplastics’ position in Zimbabwe’s manufacturing sector.
In a statement, Proplastics Limited acknowledged his contributions:
“The Board of Directors of Proplastics Limited wishes to announce the resignation of the Chief Executive Officer, Mr Kudakwashe Leo Chigiya, with effect from 19 February 2025. Kudakwashe has served the company with dedication and commitment, and the Board expresses its sincere gratitude for his invaluable contributions to the company’s growth and success.”
Finance Director Paschal Changunda has been appointed Acting Chief Executive Officer, effective immediately until a permanent successor is identified.
Chigiya’s resignation is part of a broader wave of executive departures across Zimbabwean businesses, many of which are grappling with an increasingly unstable economic environment.
In recent weeks, other major listed companies, including OK Zimbabwe, EcoCash, and Econet Zimbabwe, have also experienced leadership transitions, signalling deeper challenges within the corporate sector.
The introduction of the Zimbabwe Gold (ZiG) currency is at the heart of the crisis, which has further strained businesses already struggling with economic instability.
The Reserve Bank of Zimbabwe (RBZ) introduced ZiG in a bid to stabilize the country’s volatile exchange rate and curb inflation.
However, the currency has sparked widespread uncertainty, with businesses finding it difficult to secure foreign currency, settle debts, and maintain stable pricing structures.
The manufacturing sector, in particular, has been hard-hit, with companies like Proplastics facing rising production costs, erratic foreign currency allocations, and declining consumer purchasing power.
The challenges posed by ZiG have led to operational inefficiencies, reduced investor confidence, and an exodus of top executives unwilling to navigate the growing financial turbulence.
Economic analysts have warned that continued instability could lead to more company closures and job losses if the government fails to implement effective economic reforms.
The executive shake-ups within Zimbabwe’s largest firms underscore the urgent need for policies that restore business confidence and foster economic growth.
As Zimbabwe’s corporate sector undergoes these dramatic shifts, all eyes remain on policymakers to determine whether the country can chart a path towards economic stability—or whether more businesses will succumb to the financial pressures of the ZiG era.