Zhou, Muradzikwa Scoop ZNCC Awards

Source from:  Financial Gazette (Harare) December 1, 2005 Nelson Banya News Editor 12/02/2005

PG Industries chief executive officer Nyasha Zhou and Nicoz Diamond head Grace Muradzikwa were honoured as the best businesspersons for 2005 at the Zimbabwe National Chamber of Commerce (ZNCC) Harare Chamber annual gala held last week. Zhou, who took over from Gerald Mujaji as the construction firm restructured earlier in the year, scooped the Businessman of the Year award, while Muradzikwa, who has been at the helm of Nicoz Diamond since the 2002 merger of two of Zimbabwe's leading short-term insurers, was named the Businesswoman of the Year. The Mashonaland Tobacco Company was named the exporter of the year. Zhou was credited for turning around the fortunes of PG, which went through a rough 2004 when its high gearing levels exposed the company to rising interest rates, resulting in massive losses. The company has since returned to profitability, having restructured its balance sheet through the disposal and partial disposal of assets which include the board and glass subsidiaries--Zimboard and PG Glass, respectively. The proceeds from the sales have been committed to retiring debt and reducing interest costs, which were eating away at profits. Muradzikwa, one of the most recognizable female faces in corporate Zimbabwe, was recognized for her leadership of NicozDiamond, a market leader in an increasingly competitive industry battling to survive inclement economic conditions. Burombo Mudhumo of Lobels and Stanbic Zimbabwe managing director Pindie Nyandoro were last year's winners. Enditem