FRANCISTOWN: A Chief Executive Officer (CEO) who will lead the Francistown Investment Company (FIC) will start work fully early next year.
FIC was initially called Moiplek Investment, but changed its name to FIC last month because the latter was found to be an appealing name.
The CEO’s main responsibility will be to implement Francistown’s vision 2022. The vision seeks to transform the city and greater Francistown region into an economic hub by the year 2022. Yesterday, the Francistown City Council (FCC) spokesperson, Joseph Wasubera whose organisation oversees FIC and the vision, said his organisation was in the process of hiring a CEO.
“The process of hiring the CEO will begin soon,” he said. “However, because we are closer to the end of the year the CEO will fully resume work at the beginning of next year.”
The FCC late last month floated an advert calling for applications for the post of CEO.
It was initially announced at a full council meeting that the CEO would fully begin work by November.
However, drawing job descriptions delayed the appointment. The CEO’s main challenge will be to come up with strategies aimed at sourcing funding in order for the company to run effectively.
It was revealed at the August full council meeting that the FCC has no money to help run the company effectively.
The available money, which was not specified, was set aside to help the company fund the remuneration of the CEO and get the FIC off the ground.
It is expected that the company would require around P10 million to resume full operations, but the council has stated that it has not been able to raise the money.
The CEO will work with the City Clerk, Israel Lebuile and the Mayor, Sylvia Muzila who are among directors of the company.