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Mutizwa joins Invictus board



INVICTUS Energy Limited, the Australian firm that is scouring for gas and oil reserves in Zimbabwe’s north eastern districts, has appointed seasoned industrialist Joe Mutizwa non-executive director and deputy board chairman.

The former Delta Corporation chief executive, who also sits on a high-level panel of experts that advises President Emmerson Mnangagwa on economic issues, chairs Mangwana Capital, a fund that has invested in the Australia Stock Exchange-listed Invictus.

“We are extremely pleased to welcome Joe to the board as deputy chairman,” Invictus managing director Scott Macmillan said in a statement yesterday.

“Joe is a recognised senior business executive with a distinguished track record of leading some of the country’s largest businesses and advisory boards.

“Joe’s appointment will strengthen the Invictus board at a critical time in the company’s growth as we commence the ramp up of the exploration programme and operations in Zimbabwe.

“He (Mutizwa) currently sits on the Presidential Advisory Council (PAC), a body appointed by Zimbabwe’s President, His Excellency Comrade ED Mnangagwa, and is comprised of experts and leaders drawn from diverse sectors to advise and assist the President in formulating key economic policies and strategies in the country,” the statement read.

Invictus has estimated that the Zimbabwean oilfields could contain Africa’s biggest on-shore find.

But until the exploration is completed, no one knows exactly what lies beneath the earth’s crust at the vast oil/gas fields at the heart of picturesque jungles, the confluence of two of southern Africa’s-resource rich economies — Zimbabwe, which is further offshore from the Indian Ocean — and Mozambique, which traverses large swathes of the sea’s shoreline.

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