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The Zimbabwe Stock Exchange-listed miner RioZim has entered a critical new chapter, appointing veteran business leader Caleb Dengu as its Chairman in a comprehensive board overhaul designed to steer the company through a period of deep operational and labour challenges, Mining Zimbabwe can report.
By Rudairo Mapuranga
The leadership reset sees Dengu replacing Mr S. R. Beebeejaun, who resigned as Chairman of the Board with effect from the 7th of July 2025. The board, management, and staff extended their gratitude to the outgoing Chairman for his valuable contribution to the group.
The appointment of Dengu, an accomplished investment strategist with over four decades of international experience, signals a strategic pivot for the struggling miner. RioZim’s operations have been persistently hamstrung by severe power shortages, foreign currency constraints, and mounting debt. These challenges have been compounded by significant labour unrest, notably a protracted dispute with the Zimbabwe Diamond and Allied Workers Union (ZDAWU). The union has been representing workers in contentious negotiations over unpaid salaries and worsening working conditions, adding a critical layer of instability to the company’s operational woes.
The new Chairman will lead a reconstituted board that includes two other key appointments. Mr Vinit Saxena has been appointed as an Executive Director, bringing his expertise in security operations and risk mitigation to the table. Simultaneously, the board has been strengthened with the addition of Mr Kothagundla Srinivas as a Non-Executive Director. Srinivas, a seasoned financial expert from India, is expected to be instrumental in tackling the company’s financial troubles, bringing a proven track record in fundraising and corporate turnarounds.
The challenge for Caleb Dengu and his new team is formidable. They must not only revitalise stalled key projects, like the critical BIOX plant, but also navigate the company through its severe liquidity crisis and resolve the festering dispute with ZDAWU and the workforce. The success of this new leadership will be measured by its ability to restore stability, regain the confidence of its employees, and set RioZim on a credible path to recovery.
