Kumba Iron Ore Limited has announced that Chief Financial Officer (CFO) and Executive Director, Bothwell Mazarura, will leave his role at the end of 2025. Xolani Mbambo, currently CEO of Grindrod Limited, will succeed him as CFO from 1 January 2026. He will also serve on the Social, Ethics and Transformation Committee and the Strategy and Investment Committee.

Mazarura steps down after eight years of service, during which he also contributed as a member of the Social, Ethics and Transformation Committee and the Strategy and Investment Committee. He will continue in his current role until 31 December 2025, ensuring a smooth leadership handover.

Reflecting on his tenure, Mazarura said: “It has been a privilege to serve as CFO of Kumba. The journey has been filled with immense pride in what we have achieved together. The Kumba family is truly special, and I will always cherish the relationships and memories built here. We have continuously delivered solid results, and I am proud of our collective accomplishments and for the support of all Kumba employees, contractors, members of the Kumba executive team as well as the Board. While I will leave Kumba later this year, my commitment to delivering our clear objectives for the remainder of this year is as firm as ever.”

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Mbambo is a seasoned executive, holding a Chartered Accountant (CA[SA]) qualification and an Advanced Management Programme (AMP) from Harvard Business School. He brings over 20 years of experience in mining, logistics, and finance, having held senior roles at Grindrod and previously at Anglo American. His expertise spans finance, project execution, business performance analysis, and commodity marketing. He is known for his commitment to stakeholder value, customer experience, and fostering a culture of innovation and excellence.

Commenting on his appointment, Mbambo said: “I am honoured to join Kumba at such a pivotal time in its journey. Kumba’s commitment to operational excellence, delivering shareholder value and sustainability resonates deeply, and I look forward to working with the talented team to build on the strong foundation laid by Bothwell and to drive continued success for all stakeholders.”

Kumba Chairman Terence Goodlace expressed the Board’s appreciation: “On behalf of the Kumba Board, I extend our sincere gratitude to Bothwell for his outstanding leadership and dedication. Bothwell’s integrity, vision, and unwavering commitment as a member of Kumba’s executive team have been instrumental in positioning the company for the future. We wish him every success in his future endeavours.
We also look forward to warmly welcoming Xolani to the Kumba family. His proven track record in mining and logistics, as well as his strategic acumen, will be invaluable as we continue to safely and responsibly advance Kumba’s strategic ambitions and operational objectives.”

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Mpumi Zikalala, CEO of Kumba, added: “Bothwell has been an integral part of Kumba’s leadership team. His financial expertise and collaborative spirit have left a lasting mark on our business, and we are deeply grateful for his many contributions over the years. Under his financial stewardship, Kumba has not only delivered strong operational and financial results but also advanced our sustainable mining strategy. Bothwell’s legacy is defined by his financial expertise, his big heart, his genuine care for people, and a relentless pursuit of value creation for all. Later this year, we will bid him a proper farewell.”

“I would also like to extend my warmest congratulations to Xolani on his appointment as CFO and Executive Director. We are excited and confident about the energy and experience he will bring as we continue building a successful future together. His leadership and experience in mining and logistics will add significant value to Kumba and our stakeholders.”