Mutumwa Dziva Mawere, the Zimbabwean South African industrialist who assembled probably the most influential enterprise networks in his nation’s publish independence period, has died in Johannesburg at age 66, his household confirmed Friday. Mawere had been receiving medical care following a stroke he suffered in 2024, family members stated.
His demise marks the top of a exceptional and infrequently controversial chapter in Zimbabwe’s financial historical past. Mawere reworked from an economist and World Financial institution funding officer right into a enterprise magnate with pursuits spanning mining, manufacturing, banking, insurance coverage, telecommunications, transport and worldwide commerce.
Born on Jan. 11, 1960, in Bindura, then a part of Southern Rhodesia, Mawere earned superior levels in administration and finance earlier than starting his company ascent. After working with the Industrial Growth Company of Zimbabwe and the Service provider Financial institution of Central Africa, he joined the World Financial institution’s Worldwide Finance Company, the place he rose to senior funding officer.
He left the World Financial institution in 1995 to discovered Africa Assets Restricted, a holding firm that grew to become the muse of his enterprise empire. Via Africa Assets and associated funding automobiles similar to Ukubambana Kubatana Investments and Endurite Properties, Mawere constructed a community of firms using 1000’s throughout Zimbabwe and the broader area.
Central to that community was SMM Holdings, which owned Shabanie Mashava Mines, as soon as Zimbabwe’s solely producer of chrysotile asbestos, with operations in Zvishavane and Mashava. He additionally managed industrial companies together with Turnall, a significant producer of fiber cement merchandise, Steelnet Restricted, a metal pipe producer, and Common Beltings, a number one provider of conveyor belts and rubber merchandise.
Mawere expanded aggressively into monetary companies. He based First Banking Company, which later grew to become certainly one of Zimbabwe’s largest industrial banks, and performed a key function within the development of Zimre Holdings, a dominant power in reinsurance and insurance coverage companies. His pursuits prolonged into asset administration, stockbroking, personal fairness and agricultural provide chains.
Logistics and transport had been one other pillar of his portfolio. Via firms similar to Petter Transport and Logistics and Transport Consolidated Holdings, Mawere constructed regional provide chains linking Zimbabwe’s industries to ports in South Africa and past. Skilled companies and media ventures supported the broader group’s operations.
His enterprise rise was accompanied by extended battle with the Zimbabwean authorities within the early 2000s. Authorities moved to take management of key firms underneath emergency laws, accusing his companies of actions deemed dangerous to nationwide pursuits. Mawere rejected the allegations and mounted prolonged authorized challenges, arguing that the seizures violated property rights and investor protections.
These disputes pressured him into prolonged residence in South Africa, the place he continued to supervise authorized battles and remained an influential voice on financial reform, governance and African entrepreneurship. Admirers usually described him as a daring industrialist whose success demonstrated the potential of African owned enterprise at scale.
Funeral preparations haven’t but been introduced. His demise has prompted tributes from enterprise leaders and members of the Zimbabwean diaspora, a lot of whom credit score Mawere with reshaping the nation’s company panorama and galvanizing a era of African entrepreneurs.
