REG - Cambria Africa PLC - Subsidiary Appoints Sibert Dube CEO <Origin Href="QuoteRef">CMBC.L</Origin>

Cambria AfricaAnnouncement

21/12/2017 07:05

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 providertobanks in Zimbabwe. Servicingalmost all banks (20) in Zimbabwe, Paynet Zimbabwe has capturedover85% 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 hopestoexpand 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
+44 (0) 207 669 0115
Email:
info@cambriaafrica.com
WH Ireland Limited:
James Joyce / Alex Bond 
+44 (0) 20 7220 1666

This information is provided by RNS
The company news service from the London Stock Exchange
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