WHILST there is no official list of Zimbabwe’s richest men
and women, such as the one compiled by the Times and Forbes Magazine, the
country has its fair share of rich people, including some who are media shy.
A huge chunk of information in the public domain,
pertaining to the country’s wealthiest people, is therefore largely
speculative.
Apparently, Zimbabwe’s well-to-do are often evasive when it
comes to shedding light on their business operations and how they were set up.
But for this week, we have randomly selected a few
individuals that have a traceable business path. This article seeks to outline
how the business magnates rose to where they are today.
While the business magnates captured in this article have
worked their way up the ladder, a couple of other controversial characters
appear to have woken up at the top.
Strive Masiyiwa
Leading telecommunications mogul, Strive Masiyiwa, was not
born rich.
He is now worth over US$2,2 billion, thereby becoming one
of the richest people in Africa.
Masiyiwa was born in Zimbabwe but grew up in Kitwe, Zambia.
His father was a mine worker then.
He acquired coveted European secondary education in
Edinburg, Scotland, before acquiring a degree in Electrical Engineering from
the University of Wales.
He worked briefly in the computer industry in England,
before returning to Zimbabwe to work for the then Posts and Telecommunications
Corporation of Zimbabwe (PTC), now TelOne.
While still employed by PTC, he set up his Retrofit
Engineering in 1987.
During that time, Zimbabwe was going through a construction
boom phase.
When he resigned from PTC, Masiyiwa focused on electrical
contracting.
In 1994, he resolved to start a mobile telecommunications
company.
Masiyiwa approached a local bank with the business proposal
and he got some funding.
His former employer, PTC, turned down his proposal for a
joint venture in the mobile operations. At that time, PTC was enjoying a
monopoly in the telecommunications industry.
Masiyiwa challenged PTC’s domination in the courts.
He was awarded a mobile telecoms licence in 1998 after a
legal battle of close to five years.
He set up Econet Wireless Zimbabwe, which is under the
Econet Group, headquartered in Johannesburg, South Africa, and registered in Mauritius.
Econet Group now owns various telecommunications and
renewable energy companies across the globe.
Shingai Mutasa
TA Holdings’ Shingai Mutasa also has another interesting
tale of triumph.
He is the brains behind the country’s tallest shopping
mall, Joina City Centre, which is situated in the capital Harare.
He came up with the idea of the structure following his
wide ranging conversation with a renowned architect, the late Vernon Mwamuka
“Joina City was not driven by money, but a vision and
passion for the country,” the publicity shy tycoon was once quoted saying.
Mutasa started off as an ordinary trader.
After acquiring a degree in Economics in London, Mutasa
returned to an independent Zimbabwe to venture into commodity marketing.
He traded under a family business. In 1992, he founded Venture Finance.
He eventually took over TA Holdings in 1997.
Mutasa’s Zimbabwe Stock exchange listed TA Holdings boast
of floating entities, among them Sable Chemicals, Zimnat Insurance, Cresta
Hospitality, Utande and Masawara PLC.
Philip Mataranyika
Another fascinating tale is that of businessmen and
philanthropist Philip Mataranyika.
Mataranyika is cognisant of the adage “valar morghulis”,
meaning all men must die.
He tapped into a venture that will never run out of
customers.
But what was he doing before starting the thriving Nyaradzo
Group?
In 1986, Mataranyika joined Old Mutual as a benefits
administrator.
He later became a financial advisor at the same company. He
excelled in that role but later left Old Mutual after having served them for 15
years. Matarinyika then co-founded
Nyaradzo Insurance in 2001 with two other partners.
Since then, his company has evolved to Nyaradzo Group,
which encompasses Nyaradzo Funeral Assurance Company, Nyaradzo Funeral
Services, Sahwira Events, Calundike Exports and Eureka Insurance Brokers.
He is a graduate of the Institute of Marketing Management
in South Africa and holds a Master of Science Degree in Strategic Management
from Chinhoyi University of Technology.
Mataranyika has an estimated net worth of US$160 million.
Moses Chingwena
The shrewd businessman has interests in Croco Motors, Duly
Holdings, Premier Auto Services and Kia Legacy.
Chingwena once served as the chief operating officer of
Orion Insurance Company and later joined Century Group in 1997.
He also worked as general manager operations with the
Leasing Company of Zimbabwe.
At CFX bank, he served as a non-executive director and
later became the group chief operating officer.
After parting ways with CFX bank, Chingwena started Croco
Motors in partnership with his wife and cousin Farai Matsika.
Within a year of starting operations, Croco Motors acquired
the Mazda dealership.
lt is believed that Chingwena has shares in a number of
other companies listed on the ZSE.
Divine Ndhlukula
This firebrand woman, who owns a security company —
Securico — collects annual revenue running into millions of dollars.
She rose from humble beginnings to attain two degrees, both
of which have earned her a name in business and gender equality platforms.
A farmer and an accounting officer by profession, Ndhlukula
once worked for a broadcasting company, a financial service company and a local
insurance company.
Whilst working there, she was running a transport business.
At one time, she rescued her father, whose farm had been
seized because of failure to pay loans. She sold her trucks to pay off the
debts.
She then started working on the farm, investing in a maize
project that unfortunately went wrong because of a dry spell.
Ndhlukula then started her security company in a backyard
cottage of her Harare home, with only four employees.
The company evolved to become the first Zimbabwean security
company. lt is ISO certified.
The iron lady sits on more than 40 boards. She is now chief
executive officer of DDNS Security Operations, the holding company for Securico
Security Services, Canine Dog Service and Multi-Link.
Emmanuel Makandiwa
Outside church, religious leader and founder of United
Family International Church (UFIC), Prophet Emmanuel Makandiwa is a savvy
businessman.
He grew up in rural Muzarabani, Mashonaland Central, and
acquired his education in Chitungwiza, before becoming an Apostolic Faith
Mission pastor.
While ministering, Prophet Makandiwa has tried his hand in
a number of business ventures, resulting in him owning Havilah Gold, Radar
Holdings as well as Sterkinekor’s Zimbabwe and Zambia. While Prophet
Makandiwa’s net worth has not been publicly declared, it is believed to run
into millions of United States dollars.
Phillip Chiyangwa
Flamboyant businessman Philip ‘‘Uncle Phil’’ Chiyangwa has
made waves before and might not necessarily be among the country’s richest
people.
However, his story is inspiring.
His meteoric rise from a barefoot and spikey-haired
vegetable vendor in the dusty streets of Chegutu to a property developer and
politician cannot be ignored.
Uncle Phil is the owner of Pinnacle Holdings and Tsivo
Holdings. His ventures are estimated to have a net worth of over US$270
million.
The list goes on
Zed Kuodounaris, co-founder of Innscor Africa Limited, has
shares in companies like Padenga, Colcom, Axia Holdings, Simbisa Brands and
National Foods.
In the same league is mining and transport tycoon, Billy
Conrad Rautenbach, the Sam Levy family, and Meikles Africa Ltd chairperson John
Moxon, among others. Sunday Mail
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