SOUTH African integrated logistics service provider Grindrod Limited’s subsidiary — Bulawayo-Beitbridge Railways (BBR) — has appointed Thembi Moyo as its chief executive officer with effect from last month.
BY MTHANDAZO NYONI
“The shareholders and board of BBR are pleased to announce the appointment of Thembi Moyo as chief executive officer of BBR with effect from December 1, 2015. Moyo has served the organisation from inception in various capacities among them finance executive, acting CEO, business development and corporate affairs director and shareholder representative,” BBR board chairperson, Bongiwe Ntuli said in a statement.
Ntuli said Moyo brings with her a wealth of experience not only from the NLP limited Group that locally comprised of BBR, New Limpompo Bridge and NLPI Logistics, but from other reputable international organisations, before joining the NLPI Group.
In 2014, Grindrod, through its subsidiary New Limpopo Project Investments snapped an 85% stake in BBR.
Grindrod holds a controlling stake in Mauritius registered NLPI, which owns BBR.
Other NLPI shareholders include South African companies Nedbank, Old Mutual, Sanlam and New Limpopo Bridge Projects — an investment company controlled by Israelis Mordechai Tager and Zion Elani.
BBR was formed in 1997 as a partnership with National Railways of Zimbabwe to manage a rail concession between Beitbridge and Bulawayo. The concession included a build-operate-transfer arrangement to construct 150 kilometres of new track and upgrade 172 kilometres existing track.
The track forms part of the north-south corridor that links Durban and Richards Bay to the Copperbelt in northern Zambia and southern Democratic Republic of Congo.
The track shortened the distance between Bulawayo and South Africa to 317 kilometres, prior to its inauguration, rail service between South Africa and Bulawayo used a route through Botswana that is about 200 kilometres longer. The project will be handed over to NRZ at no cost in 2029.
Grindrod Limited is the holding company of a dynamic organisation listed on the JSE securities exchange with more than 100 years’ experience in South Africa’s freight movement and related industries.
Its business is mostly about moving cargo by road, rail, sea and air and providing integrated logistical and specialised services.
It is a global business represented in more than 37 countries and is uniquely positioned to service Africa trade flow.