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Do you know Invictus Energy’s (ASX:IVZ) new Non-Executive Director & Deputy Chairman?

Summary

  • Invictus Energy Limited (ASX:IVZ) has appointed Mr. Joe Mutizwa as a Non-Executive Director and Deputy Chairman.
  • “Joe’s appointment will strengthen the Invictus Board at a critical time in the Company’s growth,” says Managing Director Scott Macmillan.
  • The Company has plans to commence the ramp up of exploration program and operations in Zimbabwe across CY21.

Independent oil and gas explorer Invictus Energy Limited’s (ASX:IVZ) stock marked an uptick of nearly 2% mid-day on 19 May 2021. The stock quoted AU$0.137 at a market capitalisation of AU$75.99 million.

INTERESTING READ: You cannot miss the Invictus Energy (ASX:IVZ) share price momentum!

The positive sentiment towards the stock can be attributed to an upbeat market update, which involved the Company’s new Non-Executive Director and Deputy Chairman, Mr. Joe Mutizwa.

Invictus’ Latest Appointment

Respected Zimbabwean businessperson Mr. Joe Mutizwa has joined the Invictus team as a Non-Executive Director and Deputy Chairman. His term is effective 19 May 2021.

ALSO READ: Invictus Energy in Action: Completes Placement, Welcomes Incoming Director at Zimbabwe Subsidiary

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A recognised senior business executive, Mr. Joe Mutizwa, has a distinguished track record of leading some of Zimbabwe’s largest businesses and advisory boards.

Invictus’ Managing Director Scott Macmillan believes that the significant appointment will strengthen the Company’s Board. Invictus is currently in a critical time of its growth, with plans to begin the ramp up of exploration program and operations in Zimbabwe.

RELATED READ: Polaris to support Invictus Energy’s first 2D seismic program at Cabora Bassa

Getting Acquainted With Mr. Joe Mutizwa

Mr. Joe Mutizwa has joined Invictus at a time when the company is about to embark on a very exciting journey. Commenting on Invictus’ 80%-owned-and-operated Cabora Bassa project, he says that the project can be a “potential gamechanger” for Zimbabwe. It can bring about considerable economic benefits and energy security.

GOOD READ: How Invictus is planning to build on last year’s momentum in 2021?

While Mr. Joe Mutizwa’s addition to Invictus seems to be a great move, let us get acquainted with the respected Zimbabwean businessperson-

  • He is the current chairman of Mangwana Capital, which is also Invictus’ major shareholder.
  • Joe Mutizwa is a Director, Invictus Energy Resources Zimbabwe Pty Ltd, the Company’s 100%-owned local subsidiary.
  • He currently sits on the Presidential Advisory Council, a body which assists the President, His Excellency CDE E.D Mnangagwa, in devising key economic policies and strategies.
  • Joe Mutizwa is the current Chair of the boards of the Star Africa Corporation Zimbabwe and the Infrastructure Development Bank of Zimbabwe.

In the past, Mr. Joe Mutizwa has served as the Chief Executive of Delta Corporation for a decade. He has also served on the board of the Reserve Bank of Zimbabwe.

Mr. Joe Mutizwa has a BSc degree from The London School of Economics. He is also an MBA from the University of Zimbabwe. Besides, he has an MSc from HEC – Paris and Oxford University.

MUST READ: Why is Invictus Energy’s (ASX:IVZ) Cabora Bassa Project an ideal answer to Zimbabwe’s energy crisis?

As Invictus achieves significant milestones and builds on its strong foundations, a lot is anticipated in the remainder of CY21. The upcoming seismic acquisition program is likely to commence in Q2, to be followed by an eagerly awaited high-impact basin-opening drilling campaign.

GOOD READ: What’s in store for Invictus Energy?

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