15 richest investors on the Zimbabwe Stock Exchange

Feyisayo Ajayi -

In the midst of Zimbabwe’s economic challenges, the Zimbabwe Stock Exchange (ZSE) has become a haven for astute investors, amassing unprecedented wealth despite hyperinflation, a currency slump, and soaring unemployment.

At the time of drafting this report, the ZSE boasts a staggering market capitalization surpassing ZWL14.09 trillion ($43.76 billion), reflecting a remarkable year-to-date surge of 791.99 percent.

Zimbabwe’s wealthiest man Strive Masiyiwa sits on top of this list, with a portfolio valued at $2.64 billion on the local bourse. Masiyiwa, the founder of Econet Global, commands 52.85 percent of Econet Wireless Zimbabwe, worth $2.33 billion, and holds 30.26 percent of EcoCash Holdings Zimbabwe Limited, valued at $313.88 million.

Among the top 15 investors on the ZSE is Michael Fowler, a Zimbabwean billionaire and co-founder of Innscor Africa, boasting a portfolio of $285.06 million. The list also includes Nicholas Van Hoogstraten, Zinona Koudounaris, Matlhogonolo Valela, John Mushayavanhu, and John Moxon.

These investors, ranging from entrepreneurs like Michael Fowler to international figures like Nicholas Van Hoogstraten, contribute significantly to Zimbabwe’s economy through strategic investments and entrepreneurial endeavors.

This exclusive list delves into their stories of success and resilience amid the economic challenges, highlighting their substantial impact on the Zimbabwean stock market:

  1. Strive Masiyiwa
    Portfolio value on the ZSE: $2.64 billion
    Holdings: Econet Wireless Zimbabwe, EcoCash Holdings Zimbabwe Limited
    Zimbabwe’s richest man and founder of Econet Global owns 52.85 percent of Econet Wireless Zimbabwe – the country’s largest mobile telecom company. His stake is worth $2.33 billion. Masiyiwa also owns 30.26 percent of EcoCash Holdings Zimbabwe Limited formerly formerly Cassava Smartech Zimbabwe Limited, which is worth $313.88 million.
  2. Michael Fowler
    Portfolio value on the ZSE: $285.06 million
    Holdings: Innscor Africa, Padenga Holdings
    The Zimbabwean tycoon is best known for co-founding Innscor Africa, a manufacturer of consumer staple and durable goods. He owns a 19.2-percent stake in Insscor Africa worth $274.29 million. He is also a founder and 20.77-percent owner of Padenga Holdings, a public company engaged in the production and sale of crocodilian skins and meat.
  3. Nicholas Van Hoogstraten
    Portfolio value on the ZSE: $244.26 million
    Holdings: Rainbow Tourism Group
    British investor Nicholas Van Hoogstraten owns 24.2 percent of Rainbow Tourism Group, a tourism and hospitality management company in Zimbabwe with a far-reaching portfolio of owner-managed or leased hotels and conference facilities in Zimbabwe.
  4. Zinona Koudounaris
    Portfolio value on the ZSE: $163.62 million
    Holdings: Insscor Africa, Simbisa Brands, Axia Corporation
    Zinona Koudounaris, popularly known as “Zed,” co-founded Innscor Africa in 1997 with his partner Michael Fowler. Koudounaris’ portfolio on the Zimbabwe Stock Exchange includes 2.5 percent of Innscor Africa, 18.41 percent of Simbisa Brands and 20.86 percent of Axia Corporation equivalent to 115,144,045 ordinary shares, a company that retails and distributes electrical appliances, automotive goods and fast moving consumer goods.
  5. Matlhogonolo Valela
    Portfolio value on the ZSE: $114.56 million
    Holdings: Delta Corporation
    Matlhogonolo Valela owns a 0.87-percent stake in Delta Corporation, Zimbabwe’s largest beverage manufacturer. He joined the company in 1996 and was appointed CEO in March 2021.
  6. John Mushayavanhu
    Portfolio value on the ZSE: $103.51 million
    Holdings: FBC Holdings
    John Mushayavanhu is the group CEO and largest individual shareholder of FBC Holdings, an investment holding that houses a group of subsidiaries that provide financial services spanning commercial banking, insurance, mortgage financing, micro-financing and securities trading. Mushayavanhu owns 6.6 percent of the company.
  7. John Moxon
    Portfolio value on the ZSE: $82.93 million
    Holdings: Meikles
    John Moxon is the executive chairman of Meikles, a publicly traded Zimbabwean company with a diverse portfolio of investments in hotel, retail, supermarket chain, agriculture and financial services. He owns a 10.8-percent stake in Meikles through his private investment company, Gondor Capital equivalent to 27,933,226 ordinary shares.
  8. Trynos Kufazvinei
    Portfolio value on the ZSE: $53.32 million
    Holdings: FBC Holdings
    Trynos Kufazvinei holds a 3.4-percent stake in the financial services group, FBC Holdings.
  9. Ketan Naik
    Portfolio value on the ZSE: $27.13 million
    Holdings: Daribord Holdings
    Ketan Naik holds 4.48 percent of Daribord Holdings, a manufacturer and marketer of milks, foods and beverage products.
  10. Ketan Joshi
    Portfolio value on the ZSE: $25.41 million
    Holdings: FBC Holdings
    Ketan Joshi holds a 1.62-percent stake of FBC Holdings.
  11. Douglas Mboweni
    Net worth on the ZSE: $23.74 million
    Holdings: Econet Wireless Zimbabwe
    Douglas Mboweni is the group CEO of Econet Wireless Zimbabwe. He owns a 0.49-percent stake in the company, which is worth $23.74 million.
  12. Rutenhuro Moyo
    Portfolio value on the ZSE: $23.45 million
    Holdings: OK Zimbabwe
    Moyo holds a 3.2-percent stake in OK Zimbabwe, a leading supermarket retailer covering groceries, basic clothing and textiles and houseware products.
  13. Basil Dionisio
    Portfolio value on the ZSE: $18.35 million
    Holdings: Simbisa Brands
    Basil Dionisio is the group CEO and executive director of Simbisa Brands Limited, the largest fast-food restaurant operator in Zimbabwe. Simbisa owns, operates and franchises some of the most popular quick-service restaurant brands in East and Southern Africa, including Pizza Inn, Chicken Inn, Nandos and Steers of South Africa. His 4.19-percent stake in the company is currently worth $18.35 million.
  14. Lance Kennedy
    Portfolio value on the ZSE: $17.14 million
    Holdings:  Zimplow Holdings
    Lance Kennedy owns a 10-percent stake in Zimplow Holdings, a diversified construction, infrastructure and agricultural equipment manufacturer and distributor.
  15. Antony Mandiwanza
    Portfolio value on the ZSE: $16.35 million
    Holdings: Daribord Holdings
    Antony Mandiwanza owns 2.7 percent of Daribord Holdings.