Cambria Africa PLC Subsidiary Appoints Sibert Dube CEO (9923Z)

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RNS Number : 9923Z

Cambria Africa PLC

21 December 2017

Cambria Africa Plc

("Cambria" or the "Company")

Cambria's Largest Subsidiary Appoints Sibert Dube CEO

Cambria Africa's largest subsidiary, Paynet Zimbabwe, has appointed Sibert Dube as its Chief Executive Officer. He has held the Acting CEO position since 2015. Under Mr. Dube's leadership Paynet has achieved many new milestones from FY ended 31 August 2015 to FY 2017:

   --    PBT increased 402% to $1.88 million from $375,000 
   --    EBITDA increased 121% to $1.52 million from $690,000 
   --    Revenues increased 49% to $3.79 million from $2.54 million 

Paynet Zimbabwe is the largest corporate payments service provider to banks in Zimbabwe. Servicing almost all banks (20) in Zimbabwe, Paynet Zimbabwe has captured over 85% of the corporate trade and salary payments market. Mr. Dube has risen through the ranks in Paynet, joining the company in 2003 as its Customer Services and Business Development Manager. Prior to being assigned as the Acting Chief Executive he was named Chief Operating Officer in January 2014 and concurrently held that position. He holds a BSc Honours (1995) in Computer Science, MBA (2007) from the University of Zimbabwe, and a Masters of Business Leadership (2017) from the University of South Africa.

Mr. Dube hopes to expand Paynet Zimbabwe's footprint by establishing an Express Payment Platform, deploying block chain technologies, making inroads into the consumer market, and acting as a major player in international remittances into Zimbabwe.

Paynet Zimbabwe's subsidiaries include Autopay - a payroll and salaries services bureau and Tradanet - which processes consumer loans for CABS, Zimbabwe's largest building society.

 
 Contacts 
 
 Cambria Africa Plc:        www.cambriaafrica.com 
 Samir Shasha               [phone] 
 Email:                     [e-mail] 
 
 WH Ireland Limited: 
 James Joyce / Alex Bond    [phone] 
 

This information is provided by RNS

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December 21, 2017 02:00 ET (07:00 GMT)