Alpha Media Holdings (AMH), publishers of NewsDay, the Zimbabwe Independent and The Standard, has appointed businessman Vulindlela Ndlovu, prominent lawyer Sternford Moyo and international finance executive Mari Budesa to the group’s board.
Budesa, a finance executive with over 40 years of financial management and accounting experience in both the for-profit and not-for-profit sectors, is the current chief financial officer of New York-based Media Development Loan Fund (MDLF). MDLF are shareholders in AMH.
Prior to joining MDLF in 1999, Budesa spent nine years as chief financial officer of the Kosciuszko Foundation, an educational and cultural not-for-profit organisation with an endowment of $25 million.
Budesa was also treasurer and controller for the Häagen-Dazs division of Pillsbury Inc, after holding various positions as an account executive in the United States food and garment industries. Moyo is a senior partner and chairman of Scanlen & Holderness law practice.
He is the current board chairperson of Stanbic Bank Zimbabwe, Schweppes Zimbabwe and the government’s revenue collection arm, the Zimbabwe Revenue Authority. He is a director of several other local companies.
Moyo is a former president of the Southern African Development Community Lawyers’ Association and Law Society of Zimbabwe.
Ndlovu is an investment banker with corporate finance, private equity and strategy consulting experience.
Up until November 2004, Ndlovu was managing director for African Banking Corporation in Zimbabwe which is now BancABC. Prior to that, he was a partner at KPMG Zimbabwe.
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He is the co-founder of Lufuno Capital Partners, an investment management and advisory firm that is currently promoting the SEAF Lufuno Zimbabwe Opportunity Fund, a $50 million private equity fund that will invest in the country’s small and medium enterprises.
Small Enterprise Assistance Funds, a global SME investment fund management firm, is a co-promoter of the fund. The fund is targeting a 2012 year end first close.
Ndlovu is the past president of the Institute of Chartered Accountants of Zimbabwe and former member of the Council of the Institute of Chartered Accountants.
