Tawanda Nyambirai

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Tawanda Nyambirai
Tawanda Nyambirai, TN Bank, Steward Bank
Born (1969-10-24) October 24, 1969 (age 54)
Lalapanzi, Midlands Province
  • Lawyer
  • Entrepreneur
  • Banker
OrganizationMtetwa and Nyambirai Law Firm
Known forFounder of TN Holdings Limited
Spouse(s)Ketty Nyambirai

Tawanda Nyambirai is a celebrated Zimbabwean born businessman-cum-lawyer who rose to fame through his renowned TN Holdings Limited business empire and other strategic partnerships. His fame was further catapulted by his business alliance with the giant international telecoms operator Econet Wireless Group.


Tawanda Nyambirai was born on 24 October 1969 and raised in the Lalapanzi area in the Midlands Province. Nyambirai comes from a family of 16 and is married to Ketty Nyambirai.[1]

Academic Background

Nyambirai did his primary and secondary education in Chiungura in Gutu and A-Levels at Chibi High School in the Masvingo province. He went on to attain a Bachelor of Laws Honours Degree from the University of Zimbabwe in 1992. He further studied for a certificate in International Conflict Resolution Studies from the University of Uppsala in Sweden and was a registered legal practitioner, having practiced as a partner of Kantor and Immerman Legal Practitioners until March 1998. He is also a registered Estate Administrator.

Nyambirai as a Lawyer

Nyambirai is on record as having been a lawyer to leading businessman Strive Masiyiwa in his bid to license Econet Wireless Zimbabwe. He was in constant legal conflict with the state legal affairs department in his quest for the legal victory of his client. When asked, he said many lawyers acted for Masiyiwa. Most of them were within Kantor & Immerman. Some were outside. “As for my little part, check out the two last High Court Judgments on the whole episode. One was in 1997, and another in 1998. These will show that I was privileged to also play a role alongside others when history was made.” [2] Nyambirai is also a senior partner at Mtetwa and Nyambirai Legal Practitioners.[2]

The Business Empire

TN Holdings Limited

TN Holdings Limited Logo

In 2001, Nyambirai founded TN Financial Holdings Limited, a financial Services Group that included TN Asset Management, TN Financial Services, TN Medical Benefit Funds and TN Bank Limited, a registered Commercial Bank.[2] The group’s name was derived from his initials, TN. In 2009, Nyambirai led the reverse takeover by TN Financial Holdings Limited of Tedco Limited, a company listed on the Zimbabwe Stock Exchange since 1973 and which was the leading furniture manufacturer and retailer in Zimbabwe.[2]

Consequently, Tedco Limited changed its name to TN Holdings Limited and re-listed on the Zimbabwe Stock Exchange on 4 January 2010.[2] Nyambirai was the Group Chief Executive Officer of TN Holdings Limited. The group had a unique banking model that leverages on the retail businesses, technology, and people skills as channels through which it delivers banking convenience to its customers wherever they are, and whenever they need service.[2] The company has also ventured into the fast food business through its TN Grill brand which has established outlets in strategic areas of Harare's central business district. TN Baker which mainly produces bakery products also operated hand in glove with TN Grill.

TN Holdings Limited’s subsidiaries included; TN Bank Limited, a registered commercial bank; TN Harlequin Luxaire Limited, the largest furniture manufacturer and retailer in Zimbabwe; TN Asset Management (Pvt) Ltd, a registered portfolio manager; TN Financial Services (Pvt) Ltd, a leading Financial Advisory Services Firm; TN Medical Benefit Funds (Pvt) Ltd, an administrator and manager of medical benefit schemes; TN Health Care (Pvt) Ltd, a wholesaler and retailer of pharmaceuticals, and TN Holdings Zambia Limited, the holding company to its Zambian operations that retail furniture, and administer and manage medical benefit schemes in Zambia. The investments into supermarkets, clothing, and fast foods were being done under TN Harlequin Luxaire Limited, formerly Springmaster.[2]

Econet-TN Bank Deal

Tawanda Nyambirai Signing the TN-Econet deal in 2012

In December 2012, Nyambirai sold his TN Bank to Strive Masiyiwa's Econet Wireless group. Nyambirai sold the bank in exchange for a shareholding stake at Econet Wireless. As a result of the transaction Nyambirai said he will step down as chairman of Econet Wireless Zimbabwe to become a director on the board of the parent company Econet Wireless Group.[3] The sale of TN Bank to Econet Wireless in February 2013 generated frenzied speculation. It was claimed then, that Tawanda Nyambirai, also the CEO of Lifestyle Holdings had fallen out with Strive Masiyiwa, the founder of Econet Wireless.[4]

Nyambirai addresses journalists following a raid a media company

Nyambirai addresses journalists on behalf of Steward Bank


  1. Zimbabwe National Chamber of Commerce (ZNCC) Businessman of the year award for Harare-2010.
  2. ZNCC Businessman of the year National Award-2010.
  3. TN Holdings Limited also got The Platinum Technology Award for Quality & Best Trade Name, an international award conferred on TN Holdings Limited in Geneva in December 2010.
  4. Best Display in the Commercial Sector of Zimbabwe at the centennial Harare Agricultural Show held in August 2010.
  5. TN Holdings Ltd received the ‘Majestic Five Continents Award for Quality and Excellence’ from the ‘OMAC’ Other ways Management Association Club – Paris- July 2011.
  6. TN Holdings Limited received the European Award for best practices in Brussels- November 2011.
  7. Individual Special Award from Tsitsi and Strive Masiyiwa for being an individual who was most supportive of the charitable activities they carry out.

Apostolic Faith Mission (AFM) Leadership

Nyambirai is a church elder at AFM where he was involved in internet power struggles involving factions at the church. In late September 2018 a vote of no confidence was passed by church pastors to remove AFM president Dr. Aspher Madziyire, Nyambirai, general secretary Reverend Amon Madawo, and national administrator Pastor Munyaradzi Shumba. The motion was passed at the church’s national workers council held days earlier at Rufaro Conference Centre in Masvingo. [5]


  1. , Tawanda Nyambirai TN Holdings, Who is Who Zimbabwe, Published: No Date Given, Retrieved:24 July 2014
  2. 2.0 2.1 2.2 2.3 2.4 2.5 2.6 , Profile: Tawanda Nyambirai, Lifestyle Holdings Limited, Published: No Date Given, Retrieved:24 July 2014
  3. L.S.M. Kabweza, TN Bank becomes Econet subsidiary as Nyambirai sells stake, Tech Zim, Published:12 December 2012, Retrieved:23 July 2014
  4. T. Mukeredzi, Why I sold TN Bank – Nyambirai, The Zim Mail, Published:11 February 2014, Retrieved:24 July 2014
  5. Video: AFM President Madziyire Vows To Approach High Court After Pastors Pass Vote Of No Confidence, Pindula News, Published:24 sept 2018, Retrieved: 26 Sept 2018

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