Ruvimbo Chikwava

Co-Founder and CEO at African Solutions Private Limited (AfriSol)
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Contact Information
us****@****om
(386) 825-5501
Location
Zimbabwe, ZW
Languages
  • English -
  • Shona -

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Credentials

  • Introduction to Operations Management
    Coursera
    Sep, 2017
    - Oct, 2024
  • Introduction to Marketing
    Coursera
    Aug, 2017
    - Oct, 2024

Experience

    • Rwanda
    • Food and Beverage Manufacturing
    • 1 - 100 Employee
    • Co-Founder and CEO
      • Apr 2019 - Present
    • Zimbabwe
    • Food and Beverage Manufacturing
    • 300 - 400 Employee
    • Treasury and Business Development Executive
      • Jan 2016 - Apr 2019

      Mandate: To combine my understanding of the business gained from years of interrogating the business models and value chains, my strengths in treasury and corporate finance and my understanding of the company’s growth strategy, to deliver on business development. This would be achieved through either acquisitions, joint ventures or greenfield investments both locally and regionally. The funds earmarked for growth are approximately $50m. > Implementation of strategies geared towards balance sheet protection especially of the monetary assets, in light of prevailing economic headwinds. > Successful acquisition and integration of 40% and 100% of Pure Oil Industries (manufacturers of cooking oil and bakers fats) and Breathaway Food Caterers (manufacturers of extruded snacks and biscuits) respectively. As an associate Pure Oil contributes approximately $1.8m to the bottom line per annum while Breathaway adds an additional 20% to the top line. > Completed feasibility studies for two possible greenfield investments and awaiting board approval. If approved, the two investments will add a combined $3.3m to the bottom line annually with a payback period of 4 years. Show less

    • Commercial Executive
      • Nov 2014 - Dec 2015

      Mandate: in charge of 5 of National Foods’ product categories (cooking oil, pastas, canned goods, spreads and third party products) with a mandate to fix, optimise and grow the categories formulating appropriate strategies to do so. > Grew sales on like-for-like categories by an average of 9% > Conceptualised, developed, launched and grew the National Foods pasta range across the various market segments. Within 8 months from launch date, volumes had grown to 600,000 kgs per month >Interrogated and redefined the various category value chains resulting in an average cost saving of $25/MT leading to improved margins. Show less

    • Treasury Executive
      • Jan 2011 - Oct 2014

      Mandate: To ensure that the Group was adequately and appropriately funded while managing the Group’s working capital, cash flows, associated risks, and the offshore investment vehicle.> Secured facilities for the Group of up to $60m appropriately apportioned between overdraft, short term and medium term as well as on and off balance sheet, to fund the Group’s operations. > Reduced the Weighted Average Cost of Debt for the Group from 10.95% to 6.5% eliminating arrangement fees (fixed costs) and migrated to an uncollateralized model with all banks.> Successfully employed strict cash extraction measures as a way of ensuring business units operate within their stipulated working capitals, resulting in a positive cash generation by the Group. FY2014: $23.5m> Secured accreditation for the Botswana Investment Vehicle under the Botswana International Financial Service Centre (IFSC) which provides incentives for offshore companies to set up in Botswana and use it as a launch pad to invest into the rest of Africa and beyond. Some of the incentives currently enjoyed are a reduced corporate tax rate from 22% to 15%. Show less

    • Group Treasury Manager
      • Apr 2010 - Dec 2010

      Mandate: Management the treasury back office affairs which included the review of the treasury accounts, the preparation of relevant Group reports and analysis, the monthly balancing off of positions with the various business units and cash flow planning and payments.

    • Finance Manager - x2 Business Units
      • Jan 2009 - Mar 2010

      Mandate: Managing the day to day functions of the finance department which included preparation of financial and management accounts and reporting packs, preparation of forecasts, tax reporting, business unit cash flow management, implementation of financial controls and monitoring of control environment and budget preparation and monitoring.> Implemented the transition from the Zimbabwean dollar to the United States dollar. This included reconfiguration of the accounting packages, redrafting of the Standard Operating Procedures and redefining of controls. Show less

    • Professional Services
    • 700 & Above Employee
    • Audit Associate Oct ’03 to Audit Supervisor Dec ’08 (Including a 6 month secondment to Zambia)
      • Oct 2003 - Dec 2008

      Mandate: As audit supervisor, my mandate was to plan audit engagements and ensuring that they are well staffed, manage and supervise audit engagement teams and review their work, prepare financial statements in accordance with International Standards in Auditing (ISA’s), liaise with client management on matters regarding the audit (i.e. billing, accounting and audit matters), review documents to be presented to the Audit Committee and to seek new clients through proposal writing. > Successfully led the audits of the following institutions: Tangada Tea Company, First Mutual Life, CIMAS Medical Aid Society, Cairns Foods Limited, Barclays Bank (Zambia), Finance Bank (Zambia) and National Milling Company (Zambia). Show less

Education

  • ALU School of Business
    Master of Business Administration - MBA, Business Administration and Management, General
    2017 - 2019
  • UNISA
    Bachelor of Accounting Science, Accounting and Audit
    2004 - 2006
  • Nyanga High School - Marist Brothers
    1997 - 2002

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