Nigel Chanakira

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Nigel Chanakira
Nigel Chanakira, Kingdom Bank, Afrasia Bank Zimbabwe
Born Nigel Muranganwa Kudzai Chanakira
(1966-07-11) July 11, 1966 (age 50)
Occupation
  • Entreprenuer
Organization Kingdom Financial Holdings Limited
Known for Founding Kingdom Bank
Religion Christian
Denomination Celebration Ministries International
Children

3 sons - Ponayi Alistar Chanakira, Tadiwa Nigel Chanakira (Jnr), Panashe Lamuel Chanakira

1 daughter - Mazvita Bethel Chanakira


Nigel Chanakira is a Zimbabwean business mogul, philanthropist and the founder of Kingdom Bank. The bank rose from humble beginnings to a leading indigenous financial services group before his exit. His efforts continue to be recognised as he had been awarded more than 17 local and international business awards. He is the current the Executive Chairman of Success Motivation Institute (Zimbabwe) based in Harare.

Background

Nigel Muranganwa Kudzai Chanakira was born on 11 July 1966, and was raised in Harare's Highfield suburb in an entrepreneurial family. His father and uncle used to operate a public transport company, Modern Express. His father later extended his business into retail shops. Later when the business grew, Nigel's father exited the family business and bought one of the shops and expanded it. Being raised in such a family, young Nigel would work in the shops during holidays.[1] On completion of high school, Nigel failed to enter dental or medical school, which were his first passions. He then enroled at the University of Zimbabwe for a Bachelor's Degree in Economics degree program. Chanakira's intelligence and hard work earned him excellent results. This propelled him to get work at the Reserve Bank of Zimbabwe (RBZ) as an economist.[1]

Education

Nigel Chanakira attended his schooling at Martindale Catholic Primary School, St. John's High School and Churchill Boys High School after which he would proceed to the University of Zimbabwe.
Chanakira holds the following qualifications;

  • Bachelor of Science (Hons) degree in Economics (UZ)
  • Master of Science (Hon) degree in Economics from the University of Zimbabwe (UZ).
  • Diploma in Banking

Kingdom Bank

Chanakira and four other partners founded Kingdom Bank in 1994. Five years down the line, Chanakira merged the bank with The Discount Company of Zimbabwe in 1999 to secure its listing on the Zimbabwe Stock Exchange. The new company then acquired a stake in a foreign exchange bureau before merging with Meikles in 2007 to create Kingdom Meikles, one of the largest in Zimbabwe.[2] In October 2009 adispute emerged with majority shareholders and he decided to step down as CEO. He then de-merged Kingdom from the Kingdom Meikles group in 2011 and formed Kingdom Financial Holdings Limited. In 2013 Chanakira sold his 30 percent shareholding in AfrAsia Kingdom Zimbabwe and has exited the financial institution to pursue other interests.[3]

Positions Held

  • Chief Executive Officer of Kingdom Meikles Africa Limited (December 11, 2007 – January 1, 2010)
  • Chairman of the Board of First Discount House Limited.
  • Executive Deputy Chairman of KFHL
  • Reserve Bank of Zimbabwe Econmist(1998)
  • Worked of Bard Discount House( 1989-1994)
  • Director of Econet Wireless Zimbabwe
  • Non-Executive Director and Non-Executive Director of The Kingdom Bank Limited

AfrAsia Zimbabwe Holdings

  • Chairman of the Board First Discount House Limited (1998-2008)[4]

Awards

Whilst at Kingdom he won more than 17 business awards. These include Kingdom being twice voted the Top Company on the Zimbabwe Stock Exchange (ZSE) ( in 2001 and 2007), Best Turnaround ZSE company (in 2006), Director of the Year Award by the Institute of Directors of Zimbabwe (2007) among others. Nigel is happily married to Caroline and they have three sons namely Panashe, Tadiwa, and Ponayi and one daughter, Mazvita. Nigel is an active Christian serving in Celebration Ministries International and he is a philanthropist.

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References

  1. 1.0 1.1 Nigel Chanakira Zimbabwe Banker Kingdom Bank Millionare, 'The African Millionare', Published: ND, Retrieved: 15 May 2014
  2. Biography, 'Nigel Chanakira', Published: ND, Retrieved: 15 May 2014
  3. [bulawayo24.com/index-id-business-sc-companies-byo-35730.html Nigel Chanakira exits Kingdom], 'Bulawayo 24', Published: 6 Sept 2013, Retrieved: 15 May 2014
  4. Nigel Muranganwa Kudzai Chanakira Msc (econ), 'Business Week', Published: 24 Mar 2014, Retrieved: 15 May 2014