Zimbabwe’s Richest 25 people-2019 List
1. Strive Masiyiwa (Econet Group, Cassava Smartech, Kwese & Liquid Telecom)-$2.5 billion
Strive Masiyiwa overcame protracted government opposition to launch a private mobile phone network Econet Wireless Zimbabwe in 1998. He owns 52% of ZSE listed Econet Wireless Zimbabwe, which is part of his larger Econet Group (Headquartered in Mauritius).
Masiyiwa also owns 50% of blue chips Liquid Telecom Group and Cassava Smartech, which provide fibre optic and satellite services to telecom firms across Africa and technology services. His other assets include stakes in mobile phone networks, beverages and media ventures in Burundi, Botswana, CAR, South Africa, UK and Lesotho, and investments in fintech, water and power distribution firms in Africa. Now ranked 8th richest man in Africa and 900th in the world.
2. Zed Kuodounaris (Innscor Africa, National Foods, Axia Holdings, Simbisa Brands, Colcom & Padenga Holdings)-$1.1 billion
Zed is a Zimbabwean entrepreneur who co-founded the Innscor Africa Limited with Michael Fowler in 1997. They are majority shareholders in other ZSE listed companies in Padenga, Colcom, Axia Holdings, Simbisa Brands and National Foods. Innscor has interests in Profeeds, ProBrands, NatPak and Irvines. The organization is among the most successful conglomerates in Zimbabwe. Zed has other interests in Farming, Mining, Real Estate and Tourism.
3. Michael Fowler (Innscor Africa, National Foods, Axia Holdings, Simbisa Brands, Colcom & Padenga)-$900 million
Media-shy Michael Fowler is a Zimbabwean entrepreneur who co-founded the Innscor Africa Limited with Zed Koudonaris in 1997. They are majority shareholders in other ZSE listed companies such as Padenga, Colcom, Axia Holdings, Simbisa Brands and National Foods. Innscor has interests in Profeeds, ProDairy, ProBrands, NatPak and Irvines. The organization is among the most successful conglomerates in Zimbabwe.
4. Billy Conrad Rautenbach (Sabot Transport, CAMEC & Green Fuel)-$743 million
Known as the Napoleon of Africa due to his business empire expanding to more than 12 countries on the continent including DRC, Zimbabwe, South Africa, Angola and Mozambique with Sabot as the cash cow. Billy Rautenbach’s business ventures include car manufacturing, farming, wildlife safaris, cobalt and diamond mining (through Central African Mining & Exploration Company) and trucking. He was born in 1959 and took over the family business, Wheels of Africa, turning it into the largest trucking company in Africa. Rautenbach’s participation in the construction of the Green Fuel Chisumbanje plant is regarded as his biggest achievement, an eco-project that has created more jobs in Zimbabwe than any other in the last 20 years. Billy has very close links to senior politicians in Zimbabwe and the army since DRC War in 1998. Believed to be the power behind the diamond, petrol and gold cartel in Zimbabwe.
5. Sam Levy Family (Sam Levy Village)-$700 million
Не wаѕ bоrn оn 9 Осtоbеr, 1929. Іn thе уеаr 1960, hе founded the Масеу’ѕ Ѕtоrеѕ lіmіtеd-а ѕuреrmаrkеt grоuр. Не majored іntо the ѕuреrmаrkеts buѕіnеѕѕ. Best known for constructing the Sam Levy’s Village shopping mall in Borrowdale, a suburb of Harare. His properties generate an estimated income of $20 million per year. Sam Levy was a self-made millionaire businessman and property developer. When he died in 2012, he left his wealth to his 4 children who now run the estate.
6. Nicholas Van Hoogstraten (CFI, Hwange Colliery, Hamilton Capital)-$500 million
Nic wаѕ bоrn іn 1945 іn Еnglаnd. Не ѕtаrtеd hіѕ саrееr аt thе аgе оf 11 wіth ѕеllіng thе ѕtаmрѕ frоm hіѕ реrѕоnаl соllесtіоnѕ tо nоtеd соllесtоrѕ. Аt thе аgе оf 17 hе јоіnеd mеrсhаnt nаvу оnlу fоr а уеаr. Lаtеr hе ѕtаrtеd thе рrореrtу buѕіnеѕѕ. Ву thе аgе оf 28 hе bесаmе thе уоungеѕt mіllіоnаіrе оf Вrіtаіn. Не іmmіgrаtеd tо Zіmbаbwе аnd оwns ѕеvеrаl buѕіnеѕѕеѕ аnd mоrе thаn 1600 ѕquаrе mіlеѕ оf lаnd. Through his Messina Investments, he has large stakes in tri-listed Hwange Colliery, ZSE listed CFI, Holdings Rainbow Tourism Group, Hamilton Insurance and African Medallon Gold. Не also owns diamond mіnеѕ іn thе DRC. Nic has very close links to senior politicians in Zimbabwe and once loaned Mugabe more than $10 million.
7. Nicholas Rudnick (Liquid Telecom Group)-$420 million
Born in Bulawayo, Zimbabwe. He is a lawyer by profession and worked for Kantor & Immerman before moving to UK. Founder of Liquid Telecom Group. Liquid Telecom has installed fibre cable connecting countries such as Zimbabwe, South Africa, Lesotho, Democratic Republic of Congo and Tanzania. Nic has been Group CEO at Liquid Telecom (formerly Ecoweb Zimbabwe) since 2004. He is a well-recognised entrepreneur and legal expert within the industry. He played a key role in the internationally recognised landmark constitutional cases resulting in the end of the monopoly over fixed and mobile line telecommunication services in Zimbabwe. He serves as Director of Econet Wireless Group and stays in the UK.
8. Rob Davenport & Family (Tripple C Pigs, Colcom, SeedCo, Garfunkels)-$400 million
Rob Davenport and Family have huge stakes in Tripple C Pigs which is part of Colcom, ZSE listed Colcom Zimbabwe, SeedCo Zimbabwe and SeedCo International, Garfunkels and property interests in Harare.
9. Charles Davy (Lemco Safaris, HHK Safaris)-$370 million
Не wаѕ bоrn іn 1952. Не оwnѕ аrоund 1300 ѕquаrе mіlеѕ оf lаnd through Lemco Safaris and HHK Safaris in Zimbabwe which started as buѕіnеѕѕes оf huntіng ѕаfаrіѕ. Had a close relationship with Robert Mugabe. Ніѕ huntіng buѕіnеѕѕ mаdе hіm thе wеаlthу mаn bу thе lаtе 1990’ѕ. Ніѕ buѕіnеѕѕ рrоvіdе еmрlоуmеnt tо аrоund 600 blасk fаmіlіеѕ. He makes a lot of money by running hunting safaris which, in 2005, were reported to typically cost £660 (about $802 today) per day to shoot lions, elephants, leopards and buffalo on 24-day expeditions. Davy’s daughter is none other than Chelsy Davy, the relatively famous former on-off girlfriend of Britain’s Prince Harry between 2004 and 2011.
10. John Bredenkamp (Breco Holdings, Thetford Estate)-$367 million
Born in South Africa in 1940, John Bredenkamp moved to then Rhodesia with his family when he was a child. He was orphaned on his birthday: upon returning home from a bike ride, he discovered that his father had shot his mother and sister and then turned on himself (his sister survived).He founded the Casalee Group of companies in 1976, which was primarily a leaf tobacco merchant company, eventually becoming the fifth largest tobacco merchant in the world and effectively making Bredenkamp one of the richest people in Zimbabwe in the 90s. Casalee was sold in 1993 and he has since expanded his business interests into many other different areas, including grey-market arms dealing, sports marketing and property. Heavily involved with the DRC involvement of the Zimbabwean Army in 1998.
11. John Moxon (Miekles Group)-$300 million
Related to Thomas Miekles, founder of the Miekles Group. Moxon has interests in various business areas including retailing, farming, banking and hospitality. These include the retail sector in which he has a considerable stake in Barbours Stores which is a local departmental store and ZSE listed Miekles. He also has interests in TM Pic n Pay Supermarkets which has branches countrywide in Zimbabwe and Tanganda Tea Company among others.
12. Hamish Rudland (Unifreight/Swift, CFI, ZimRe)-$250 million
Founder of Unifreight Africa, Hamish Bryan Wilburn Rudland presently is Chairman for Pioneer-Unifreight (Pvt) Ltd. He is also on the board of 9 other local companies. In the past he occupied the position of Non-Executive Director at Unifreight Africa. Rudland received a degree from Massey University. He has other investments in ZSE listed CFI and ZimRe properties.
13. Ken Sharpe (Augur Investments and West Food Distribution)-$215 million
Born in 1973, Kenneth Raydon Sharpe is the Executive Chairman of West Properties, Augur Investments and West Food Distribution. He started his entrepreneurial journey in 1990 when he established a confectionery and food distribution business which, ultimately, became the West Group with interests in transport, real estate and retailing. His company partnered City of Harare in developing Harare Sunshine Bazaar, Mbudzi Peoples’ market and is building Shawasha Mall in Mbare.
14. Shingayi Mutasa (TA Holdings, Masawara Investments)-$210 million
Shingayi Stanley Mutasa was born on 26 November 1958 and raised in Mutare. Having completed his studies in the United Kingdom, Mutasa returned to Zimbabwe in 1980 where he got into the family business as a commodity broker. He owns ZSE listed TA Holdings (Sable Chemicals, Zimnat Insurance, Cresta Hospitality and Utande) which is listed on the ZSE. After several previous failed attempts to acquire TA Holdings, he eventually managed to acquire it in 1997 but the company was riddled with debt. He also has a 51% stake in Masawara PLC. Mutasa is also the brains behind the construction of the tallest building in the capital known as Joina City. He serves on the board of several companies in Zimbabwe, Malawi and South Africa.
15. Phillip Mataranyika (Nyaradzo Insurance Group)-$160 million
In March 2001, Mataranyika Co-founded Nyaradzo Insurance together with Farai Rwodzi and Timothy Chiganze with the sole objective of providing decent African funeral services.
Since 2001, the company has evolved resulting in the creation of a combined Nyaradzo Group which encompasses Nyaradzo Funeral Assurance Company, Nyaradzo Funeral Services, Sahwira Events, Calundike Exports and Eureka Insurance Brokers. Mataranyika is also the current board chairman of Rufaro Marketing, Road Angels, Altfin Life Insurance and Rose Markets Investments.
16. Kudakwashe Tagwirei (Trek Petroleum, Sakunda Holdings, Puma Zimbabwe)-$125 million
Tagwirei founded Sakunda in 2005. He has stakes in Puma Zimbabwe which acquired Sakunda Petroleum and Redan assets. CEO and Director at Sakunda Holdings Group and a businessman with vast interests in the energy sector, transport and mining.
It is widely believed that Tagwirei has strong ties to prominent politicians including Vice President Constantine Chiwenga, Joram Gumbo and John Mangudya. Tagwirei is credited for mobilizing finance for government’s Command Agriculture in 2016. He recently acquired Trek Petroleum assets and leases them to the new brand owners.
17. Moses Chingwena (Croco Motors, Orion Insurance)-$105 million
Chingwena served as the COO of Orion Insurance Company. He’s the co-founder of Croco Motors and currently serves as its chairman.
Chingwena joined the Century Group in 1997 as General Manager Operations with the Leasing Company of Zimbabwe and was then appointed Managing Director of the division in 1998. He also served as non-executive director of CFX Bank. He became the Group Chief Operating Officer in charge of the commercial bank, leasing company and the insurance company, before leaving the bank to start Croco Motors with his wife Anne-Marie Chingwena. Croco Motors I now the largest car dealer in Zimbabwe. He has interests in property and real estate.
18. Simon Rudland -(R&G Cigarettes, Golden Leaf Tobacco & CFI)-$98 million
Younger brother to Hamish Rudland. Simon has a shareholding in ZSE listed CFI Holdings, R&G cigarettes through Golden Leaf Tobacco and other investments on the Stock Exchange.
19. Obert Mpofu (Maminza Transport, Trebo and Khays & Khanondo Safaris)-$85 million
Obert Mpofu (Former minister of Mines, Transport, Economic Planning & Home Affairs) was accused of being corrupt during his tenure as Minister of Mines. It was reported that he acquired his wealth through corrupt activities linked to Diamond Mining in Chiadzwa. The minister allegedly owns half the town of Victoria Falls in real estate properties (York Houses) and has interests in companies such as Trebo and Khays, Maminza Transport, Khanondo Safari and Tours, Khanondo Car Hire, Horseshow Estate, KoMpofu La Sports Bar, Luna Rainbow Tours, Guest Paradise Lodge, Good Memories Lodge, Mswelangubo Farm, New Miners Restaurant (Hwange), Accut and Crews Village, Moya Security and Matetsi Meat Butchery. He bought ZABG in which he is rumoured to have had a controlling stake in 2005. He was the owner of Allied Bank but the bank was forced to hand over its license to the Reserve Bank of Zimbabwe after it faced several constraints ranging from liquidity challenges and failure to meet minimum capital requirements. Mpofu was also reported to be the owner of a local newspaper called the Zimbabwe Mail.
20. Brett Childs (Brainwork Capital)-$62 million
Brett Childs, a Chartered Accountant (Zimbabwe) and major shareholder in Bran works Capital (with shareholding in ZSE listed African Sun, Dawn Properties and FML Logistics), he has over 25 years’ experience in change management, capital raising, public offerings, corporate actions and investment strategy. Brett has spent 15 years in London, where he helped to build a successful venture business, listed assets on the London Stock Exchange and Helsinki Stock Exchange (HEX). Brett has been based in Mauritius for the last 16 years and has managed and been a director of a number of listed investment businesses, largely with a pan-African focus, including Maitland Group South Africa Limited, Brait SE, Novare Africa Fund PCC and Tana Africa Capital Limited.
21. Ian Saunders (Falcon Gold, New Dawn Gold)-$47 million
Born in 1968, Ian Saunders has held many technical and managerial roles in South Africa and Zimbabwe and has more than 20 years’ experience in the mining industry with Falcon Gold. He has since gone on to hold a seat on five corporate boards, most notably at New Dawn Mining Corp. where he is also President and CEO (since 2006 and 2008, respectively). He founded ZSE listed Falcon Gold which owns Dalny mine, Venice Mine and Golden Quarry.
22. Emmanuel Makandiwa (Havilah Gold, Sterkinekor’s ZW & Radar Holdings)-$42 million
Emmanuel Makandiwa is a popular religious leader who founded an interdenominational church in 2008 called UFIC which later became a fully functional church in 2010. He was a pastor in the Apostolic Faith Mission in Zimbabwe (AFM) Church. Makandiwa is also a businessman. In the last quarter of 2014, it was rumored that Makandiwa purchased a gold mine from a Chinese firm, Ming-Chang for US $1.3 million through a consortium company trading under the name Havilah Gold. Makandiwa owns the Sterkinekor franchise in Zimbabwe and Zambia. He also has interests in Print Media and Radar Holdings.
23. Andre Zietsman (Bitumen World, Senator Express)-$38 million
Andre has been involved in the construction industry for 20 plus years. From 1993 to 1999 he was employed as Workshop Manager with Tarphalt Paving (Pvt) Ltd. In January 2000 he purchased the bulk bitumen transport business, Senator Transport, from Tarphalt Paving. After relocating his entire operation to Bulawayo he built this business up to the stage where there were 18 tankers in the fleet delivering bitumen to customers in South Africa, Zimbabwe, Zambia and Mozambique.
In 2006 he founded Senator Express, a cross border bus service operating between Johannesburg and Bulawayo. He also went into commercial property development where he purchased vast tracts of land and built a shopping mall. Looking for new ventures and challenges he sold all his businesses in August 2010 and bought a fleet of armoured cash in transit vehicles which he hires out to local security companies. He also imports his own branded products which he sells to the local market as well as being in a joint venture with another Zimbabwean company which supplies and erects prefabricated buildings.
24. Hilton Macklin (Powerspeed Electrical)-$35 million
Hilton Holds interests in ZSE listed Powerspeed Electrical which owen Electro Sales. He has other interests in Mashonaland Holdings which is into real estate and property development.
25. Divine Ndhlukula (Securico, Zvikomborero Farms)-$25 million
Divine Simbi Ndhlukula is the founder and managing director of DDNS Security Operations, the holding company for Securico Security Services, Canine Dog Service and Multi-Link.
She has been internationally recognised as one of Africa’s Most Successful Women. She also made history when Securico became the first Zimbabwean manned security company to be ISO certified. Securico managed to generate revenues of more than US$20 million a year in a difficult environment between 2000 and 2010.
Divine sits on various boards in Zimbabwe including the Chamber of Zimbabwe Industries (CZI) and Business Linkages Committee. In agriculture, she founded Zvikomborero Farms. She is the founder of the Mentorship in Practice programme, Woman Owned Brand initiative, an offshoot of the Women in Enterprise Conference and Awards platform which she started in 2013 to help women scale up their businesses. She became the first SADC member at Women Presidents Organization.
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