Richest People In Zimbabwe (2019)

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Zimbabwe's richest people in 2019

This the list of Zimbabwe's richest people according to an article by The Sunday Mail. The people are not listed in any particular order.


Strive Masiyiwa

Strive Masiyiwa

As of 3 May 2021, Strive Masiyiwa's real-time net worth is US$1.5 Billion. He owns just over 50% of the publicly traded Econet Wireless Zimbabwe, which is one part of his larger Econet Group. Masiyiwa also owns just over half of the private company Liquid Telecom, which provides fiber optic and satellite services to telecom firms across Africa. His other assets include stakes in mobile phone networks in Burundi and Lesotho, and investments in fintech and power distribution firms in Africa. He was listed as number 16 on Africa's Billionaires 2021 list. [1]

Strive Masiyiwa briefly worked in the computer industry in England. He returned to Zimbabwe and worked for the then Posts and Telecommunications Corporation of Zimbabwe (PTC), now TelOne.

In 1994 Masiyiwa started a mobile telecommunications company. He got some funding from a local bank.

His former employer, PTC, turned down his proposal for a joint venture in mobile operations. He was awarded a mobile telecoms licence in 1998 after a legal battle of close to five years.[2]

Shingai Mutasa

The Herald in 2013 estimated that Shingai Mutasa's net worth was US$142 million. The publication stated that Mutasa's net worth might have been understated because the mogul is private.[3] Mutasa owns TA Holdings and is the brains behind Zimbabwe’s tallest shopping mall, Joina City. He came up with the idea of the structure following his wide-ranging conversation with a renowned architect, the late Vernon Mwamuka.

Mutasa started as an ordinary trader. In 1992, he founded Venture Finance and eventually took over TA Holdings in 1997.[2]

Philip Mataranyika

Philip Mataranyika, Nyaradzo Group Founder and CEO

Philip Matarinyika 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. Mataranyika has an estimated net worth of US$160 million.

He started as a benefits administrator at Old Mutual and eventually rose to the role of financial advisor before he left after 15 years to start his own business.[2]

Moses Chingwena

Moses Chingwena has interests in Duly Holdings, Premier Auto Services and Kia Legacy. 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 Zimbabwe Stock Exchange.

Chingwena was the chief operating officer of Orion Insurance Company before he joined Century Group in 1997.

He also worked as general manager of operations with the Leasing Company of Zimbabwe. He first served as a non-executive director at CFX bank and later became the group chief operating officer. He started Croco Motors after he left CFX Bank.[2]

Divine Ndhlukula

Whilst her actual or estimated net worth is unknown, Divine Ndhlukula who started Securico, reported collecting an annual revenue of US13 million with a staff complement of 3 400 according to a 2013 article by The Herald.[3]

Ndhlukula once worked for a broadcasting company, a financial service company and a local insurance company. Whilst she was working for an insurance company, Ndhlukula was running a transport business on the side. She started Securico in a backyard cottage of her Harare home, with only four employees.[2]

Emmanuel Makandiwa

Emmanuel Makandiwa

Emmanuel Makandiwa has not publicly declared his net worth.[4] He is the founding leader of United Family International Church (UFIC). Makandiwa owns Havilah Gold, Radar Holdings as well as Sterkinekor’s Zimbabwe and Zambia.[2]

Makandiwa was a pastor in the Apostolic Faith Mission in Zimbabwe (AFM) Church. His spokesperson Prime Kufa has dismissed reports and suggestions that Makandiwa could be using church funds to live a wealthy lifestyle.[5]

Phillip Chiyangwa

He has an estimated to have a net worth of over US$270 million.[2] In 2013, Chiyangwa had a Rolls Royce Phantom which at the time was worth US$475 000, a Bentley (US$350 000), a Mercedes-Benz GLS (US$300 000) substantial shareholding in 39 companies and interests in over 100 properties.[3]

Chiyangwa was a vegetable vendor.[6]

He said his first job was working as a garden boy for an elderly Portuguese family that had left Mozambique at Independence in 1975. [6]

Chiyangwa later worked at Dunlop Zimbabwe as an Industrial Engineering Assistant and Work Study Trainee.[6] He also later worked for Willowvale Mazda Motor Industries and Van Leah in the early 80s.[6] For a detailed interview of Phillip Chiyangwa

Zed Koudounaris

Zed Koudounaris born Zinona Koudounaris is the co-founder of Innscor Africa Limited. He has shares in companies like Padenga, Colcom, Axia Holdings, Simbisa Brands and National Foods.[2] He was named in the Panama Papers. Zinona Koudounaris and Michael Fowler operating through lawyers and accountants, opened four companies in the British Virgin Islands and transferred money from their salaries to the firms in 2015. This was apparently in violation of Zimbabwe's laws which prevent money earned in Zimbabwe from being transferred to offshore accounts unless approved by the Reserve Bank of Zimbabwe.[7]

References

  1. #2035 Strive Masiyiwa, Forbes, Published: No Date Given, Retrieved: May 3, 2021
  2. 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Emmanuel Kafe and Veronica Gwaze, Zim’s richest: How they made their money, The Sunday Mail, Published: 2019, Retrieved: May 3, 2021
  3. 3.0 3.1 3.2 Fanuel Kangondo, Who is the richest?, The Herald, Published: December 7, 2013, Retrieved: May 3, 2021
  4. WORLD’S RICHEST PASTORS, The Herald, Published: August 16, 2014, Retrieved: May 3, 2021
  5. Bryan Gumbo, Prophet Makandiwa’s wealth exposed, Nehanda Radio, Published: February 7, 2014, Retrieved: May 4, 2021
  6. 6.0 6.1 6.2 6.3 Who is Who Zimbabwe - Phillip Chiyangwa, Who's Who Zimbabwe, Retrieved:4 May 2014
  7. Innscor named in Panama papers, The Chronicle, Published: May 11, 2016, Retrieved: May 4, 2021