Marcopolis

Zimbabwe Report

Marcopolis presents the Zimbabwe Report focused on topics such as economy, investments and doing business, featuring interviews with Zimbabwe's leaders. The sectors under review in this issue are agriculture & agribusiness, banking & financial services, construction & real estate, hospitality & tourism, industry, services, telecom & IT, and many more. 

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VideosMay 02, 2024

Expanding Perspectives: Revealing the Multifaceted Business Portfolio of Masawara Group

Written by Sandra Francisco
Published: May 02, 2024

Joseph Hundah, COO at Masawara Group, provides a comprehensive insight into the Group's business portfolio and its extensive range of subsidiary companies.

"Masawara Group encompasses a diverse range of industries, with the largest segment being financial services. Within this cluster, our expertise lies in insurance. We operate two short-term insurance businesses, BIC in Botswana and Zimnat General Insurance in Zimbabwe. Additionally, we have a reinsurance business spanning Zimbabwe, Tanzania, Botswana, and Cameroon, serving the ECOWAS region. This covers pure reinsurance and life insurance exclusively in Zimbabwe. Our asset management and micro-lending businesses are also confined to Zimbabwe, collectively forming the primary focus of our group. We engage in insurance brokerage, offering services in the Zimbabwean market, and have recently expanded to Zambia, Uganda, and Tanzania. Although not part of the financial services cluster, it contributes to our Pan-African expansion strategy. Hospitality is another significant segment, with five hotels in Zimbabwe, one in Cape Town, and ownership in Cresta Marakanelo. This constitutes our second-largest group of businesses", says Joseph Hundah.

"Beyond that, we have an ISP named Dandemutande, catering mainly to corporate clients with broadband services. In the property sector, we own and manage Joina City, the tallest building in Harare. Minerva, our insurance broking business, is also part of this cluster. We have taken a minority stake in Tatanga Energy, an alternative energy venture, and initiated business process outsourcing. Healthcare is a recent addition, featuring a facility specializing in laboratory services, pathology, diagnostics, and other services through partnerships. Our businesses are registered in Jersey, and some holding companies within our clusters are registered in Mauritius, providing the overall structure of our operations", he adds.

 

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