Engineering group Zeco Holdings Limited (Zeco) has appointed Clifton Frankis as chief executive, as the group seeks to consolidate its return to profitability and accelerate a broader strategic turnaround.
Zeco said Frankis’ appointment took effect on 1 May, with the executive taking over from Bruce Chiyangwa, who remains with the company as an executive director.
“…the board of directors…have appointed Clifton Frankis as the chief executive,” Zeco chairman Ben Rafemoyo said in a notice to shareholders.
The company said Frankis previously served as general manager of Crittal Hope Limited – a key subsidiary of Zeco – and brings “several years of experience in engineering, mining and industrial operations” to the role.
According to the board, the new chief executive will spearhead the group’s strategic direction and oversee operational performance as Zeco positions itself for growth following a prolonged difficult period.
“The board is confident that under his leadership the company will continue to improve results for our customers, employees and shareholders,” Rafemoyo said.
The leadership change comes at a time when the Zimbabwe Stock Exchange-listed engineering and manufacturing group is showing some signs of recovery.
For the year ended 31 December 2025, Zeco returned to profitability with earnings attributable to shareholders of ZiG3,37 million, reversing a loss of ZiG549 282 recorded in the prior year.
Revenue surged to ZiG5,06 million, more than triple the 2024 performance, while gross profit rose to ZiG2,05 million on the back of stronger sales and ancillary income streams. Operating profit climbed to ZiG11,67 million, reflecting improved cost absorption and operational efficiencies.
Management, however, cautioned that the turnaround remains transitional as the company pursues a new strategic focus.
“The group’s performance remains in transition as it pursues a new strategic focus,” the company said in its financial results.
Historically associated with steel fabrication and industrial manufacturing, Zeco is now repositioning itself through new projects and partnerships aimed at diversifying revenue streams and strengthening long-term profitability.
Looking ahead, the group expressed cautious optimism for 2026, citing improving macro-economic conditions, projected economic growth and anticipated new business opportunities as supportive factors for expansion.