Public Private Partnership Commission (PPPC) chief executive officer Jimmy Lipunga will step down from his position this August after serving for 14 years at the helm of the institution.
In a press release yesterday, the commission’s chairperson Lamion Gama said Lipunga will proceed on early retirement to pursue other interests, having worked at the commission for 23 years, making him remnant of the original team of professional staff recruited at the inception of the Privatization Commission back in 1996.
“The desire to proceed on early retirement on the part of Lipunga was openly communicated to government and the board of commissioners at the inception of the current contract. The separation is, therefore, cordial and based on mutual agreement and understanding.
“The board of commissioners, with the Department of Statutory Corporations, has subsequently initiated a process of selecting a successor to Lipunga through a competitive process, an directed by government towards the effort in order to guarantee a smooth succession of leadership up until a new chief executive officer is found,” said Gama in the press release.
Some of Lipunga’s achievements during his tenure include recapitalisation programme of Malawi Savings Bank and Indebank Limited, liquidation of Air Malawi, Shire Bus Lines Limited, Malawi Development Corporation Limited and Malawi Rural Finance Compay; successful implementation of initial public offerings (IPO) for Mpico plc and NBS Bank plc; lead negotiator in the Central East African Railways (Cear)/Vale railway concession as well as concessioning of Liwonde National Park and Nkhotakota Wildlife Reserve.