Zimbabwean tycoon Paddy Zhanda’s wealth surges by $10 million in 2023

Zimbabwean tycoon Paddy Zhanda, who owns a significant stake in Masimba Holdings, has seen his wealth figures surge by over $10 million since the start of the year, according to data tracked by Billionaires.Africa.

Zhanda, one of the wealthiest investors on the Zimbabwe Stock Exchange, owns an 8.08-percent beneficial stake in Masimba Holdings through his investment vehicle, Amalgamated Ventures Limited, amounting to 19,515,019 ordinary shares.

Masimba Holdings is a well-established Zimbabwean group that offers engineering and infrastructure solutions to various sectors, including agriculture, commercial, corporate, housing, mining, public, and water. It operates through three segments: Masimba Construction Zimbabwe, Proplastics, and Property Development.

Since the start of the year, the group’s share price has increased by 216.4 percent, from ZWL79.96 ($0.248) on Jan. 1 to ZWL253 ($0.786) at the time of drafting this report.

Zhanda’s stake in the Zimbabwean group has increased by ZWL3.38 billion ($10.49 million), from ZWL1.56 billion ($4.84 million) at the beginning of the year to ZWL4.94 billion ($15.33 million) at the time of drafting this report.

This surge in the market value of his investment further cements his position as one of the wealthiest investors on the Zimbabwe Stock Exchange and underscores his status as a top business executive in the country.

Masimba Holdings’ impressive valuation growth in recent years is a testament to the group’s resilient business model. In addition, the group’s share price surge further reinforces investors’ confidence in it as a going concern.

Zhanda’s wealth surge is a remarkable achievement and a clear indication of his shrewd business acumen. It also serves as a useful example for retail investors and aspiring entrepreneurs, highlighting the opportunities on the Zimbabwe Stock Exchange.