About Us
First Mutual Holdings Limited is a leading financial services group that is committed to creating value through risk management, wealth creation and wealth management, predominantly in the insurance sector.
Our brand is the financial ally that plays an integral role in preparation for a better tomorrow for individuals and institutions, by availing them the economic dignity of being prepared for life time obligations through our subsidiaries.
Our professional and client-centric team is solution driven, and cares enough to go beyond and provide straight forward tools that create sustainable value for our customers. We have diverse interests in life assurance, health insurance, short term insurance, reinsurance, savings, wealth management, as well as property through our vast business portfolio.
Board Members
Mr Israel Paul Zaba Ndlovu
Consultant specializing in public sector finance.
Previously Finance Director of subsidiaries of TA holdings
Previously City Treasurer of Bulawayo
Previously Senior Accountant at National Railways of Zimbabwe
Director of POSB, CABS, Ingwebu Breweries, Bulilima Mangwe Business Incubator, Member of Opengates (Pvt) Ltd
Fredson Mabhena
Fredson Mabhena is a diligent and result oriented lawyer with several years of experience in both the private and public sector in industries that include Insurance, Mining, and Commercial and Corporate Law. He is currently a Legal Advisor with the Ministry of Labour and Social Welfare where he has held this post for the past three years. Prior to that Fredson held the same post with various public institutions that include, the Ministry of Local Government, Public Works and National Housing as well as the Ministry of Rural Development, Promotion and Preservation of National Culture and Heritage. Fredson began his career in the private sector where he held various positions in organisations that included Musekwe and Associates Legal practitioners, South African Reinsurance Company, and Commercial Union Insurance. Fredson holds a Master of Laws Degree from Midlands State University and Bachelor of Laws Degree from the University of Zimbabwe. He is also a former Associate of the Insurance Institute of South Africa.
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004. Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
William Marere
William was appointed to his current position in September 2012. Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. William served his Articles of Clerkship with Ernst & Young. Upon completion he worked for the companies in the financial services, mining and property development industries including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance. William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
Gareth Baines
Gareth has experience in the insurance industry and extensive knowledge of life and non-life insurance. Prior to joining the Board, he held executive positions in financial services sector in South Africa, at Guardrisk Insurance Company Limited, AIG South Africa Limited (AIG SA), ABSA Insurance Company, and Nedbank Insurance Limited. Gareth has served on several South African board committees including AIG SA Pension Fund Trustee Chair, Audit sub-committee of AIG SA, Intermediaries Guarantee Facility Limited, as President Institute of Risk Managers South Africa(IRMSA) and IRMSA Education & Technical sub-committee chair. He holds a Bachelor of Business Science in the special field of Finance and a Master of Business Administration (University of Cape Town).
Memory Mukondomi
Memory is the Director Finance and Administration in the Ministry of Public Service Labour & Social Welfare. Prior to her current position, she was the Chief Internal Auditor in the Ministry of Industry and International Trade from 2005 to 2011. She was in the COMESA Audit Committee having worked for the Auditor General from 1990 to 2005. Memory holds an Executive Masters of Business Administration from the National University of Science and Technology and Bachelor of Science (Hons) Accounting and Finance – Chinhoyi University.
Evlyn Mkondo
Eve graduated from the University of Zimbabwe with a Bachelor of Accountancy (Honours) degree and became a member of the Institute of Chartered Accountants of Zimbabwe in 1989 after serving articles with Coopers & Lybrand (now Ernst Young) in Harare. Eve has held senior finance positions in organizations spanning power, retail, mobile communications and financial services. She later joined listed conglomerate Star Africa Corporation Limited (formerly ZSR Limited) as Group Finance Director and later as its Group Commercial Director. Eve gained invaluable experience as an Executive Director of the main Board, a director at divisional boards and also at subsidiaries Sugar Industries Botswana Limited, Star Africa International Limited (Mauritius) and ZSR Transport Limited (South Africa). She also sat on the Zimbabwe Sugar Association board. Eve spent a year as Chief Finance Officer of AIM listed African Consolidated Resources Limited before retiring in 2013. Currently she’s serving as non-executive director at Schweppes Zimbabwe Limited, Allied Timbers Limited, First Mutual Properties and Standard Charted Bank Zimbabwe.
Amos Raymond Tamuonepi Manzai
Amos has senior managerial and executive leadership experience acquired at Deloitte & Touche London and Zimbabwe as senior supervisor. He has also served at ZESA as Deputy General Manager – Finance. Amos has also held the position of Group Finance Director at TA Holdings Ltd and Executive Director Finance & Administration at Standard Chartered Bank Zimbabwe.
He is a Director at Perrenialform Investments Pvt Ltd, Evergid Services Pvt Ltd and Lidle Trading Services (Pvt) Ltd. He holds a BA Honours Economics Degree (Dunelim UK) and is a Chartered Accountant (Zimbabwe).
Samuel Vengai Rushwaya
Samuel is a former Managing Director of Aberfoyle Holdings (Pvt) Ltd and past Chairman of British American Tobacco Zimbabwe Limited and Standard Chartered Bank Zimbabwe Limited as well as First Mutual Reinsurance Limited. He is also a past Director of CGU Insurance, Portland Holdings Limited, SFG Insurance and First Mutual Limited. He sits on the African Distillers Limited and First Mutual Life Assurance Limited boards. Samuel is a holder of a Bachelor of Science (Sociology) Honours Degree, London and Advanced Diploma in Training Management.
Elisha Moyo
Elisha is a lawyer by profession and currently practices law in the Law firm Moyo and Partners Legal Practitioners which he founded in October 2011. His specialty is corporate law. In August 2012, Elisha was appointed as Chairman of Pearl Properties (2006) Limited (now First Mutual Properties), and a non-executive director of First Mutual Holdings Limited and TristarInsurance Company Limited. He also sits on several other boards, including Afrosoft Holdings Limited. He is a current PhD student in Business Administration and he holds a Master’s in Business Administration from the University of Zimbabwe, a Bachelor of Laws degree and a Bachelor of Law Honours Degree from the same institution.
Group Executive Committee
Dr Pfungwa Dhliwayo
Pfungwa Dhliwayo serves as the Group Human Resources Executive and is responsible for driving the Group’s human capital strategy. Pfungwa is also responsible for convening and facilitation of the Group strategy planning process. Prior to joining the First Mutual Group, Pfungwa was employed by Econet Wireless Zimbabwe where he held senior positions in human resources operations, organizational development and talent management. While at Econet, Pfungwa also facilitated sustainable organizational development interventions in Econet’s Lesotho and Burundi operations on short-term international assignments. Pfungwa has exposure in financial services, manufacturing, general services and telecommunications industries gained from working for Delta Corporation, Old Mutual Zimbabwe, Zimasco and Safeguard, where he held various positions in human resources management.
Pfungwa is a graduate of the Global Executive Development Programme (Gordon Institute of Business Science), is a Certified Coach (International Coaches Federation) and holds a diploma in Personnel Management (Zimbabwe Institute of People Management), Master of Business Administration degree, Master of Science in Occupational Psychology degree and a Bachelor of Science Honours degree in Psychology, all from the University of Zimbabwe.
Sheila Lorimer
Prior to joining the group, Sheila was previously employed with Bindura Nickel Corporation as an in-house Legal Adviser and Company Secretary a position she held from 2007 to date. She was once Group Company Secretary, for the then First Mutual Limited from 2003 to 2007.
Prior to that, Sheila worked for KPMG Zimbabwe, First Merchant Bank, Mobil Oil Company of Zimbabwe and Scanlen & Holderness Legal Practitioners where she acquired vast experience in corporate law and company administration.
Sheila holds a Master of Laws Degree from University of Cambridge, Bachelor of Laws Degree and a Bachelor of Arts Degree from University of Natal.
Farayi Mangwende
Farayi is responsible for providing high level, functional leadership and strategies for all First Mutual Holdings Limited Group companies in the areas of marketing, corporate affairs, internal & external communications, as well as media/stakeholder relations. She is also in charge of the strategy co-ordination and monitoring for the Group.
Her career of more than 25 years has given her experience in various sectors of industry in Zimbabwe, United Kingdom and sub-Saharan Africa where she has had exposure in marketing, corporate communications, public relations, communication strategy formulation & implementation, investor & stakeholder relations, media management, crisis management and event management.
She is a holder of a Master’s degree in Public Communication & Public Relations from the University of Westminster (UK). Farayi is the Marketing Commission Chair for Zimbabwe Olympic Committee, sits on the Southmed Chitungwiza hospital board and is an immediate past trustee for the Culture Fund Trust of Zimbabwe. She is actively involved in fund raising for Harare Central Hospital, well as various other charitable institutions, and is a young adults transformation agent through mentoring programmes. She is a past alumni of the FORTUNE / US State Department / VITAL VOICES Global Women’s Mentoring Programme, Washington D.C. and was one of 33 women leaders from emerging economies globally selected to participate in the programme in April 2011.
Joseph Mhlabi
Prior to joining First Mutual Holdings Limited, Joseph held various senior positions in Finance and Internal Audit within the SMM Holdings group where he was instrumental in the business development programmes that created SMM Holding’s operations in agriculture, transport & logistics and print media.
Joseph turned around loss-making logistics operations in South Africa and managed down the mining production costs by ensuring adherence to operating standards. In his capacity as Group Internal Audit Executive for First Mutual Holdings Limited he is responsible for providing assurance to the Board and management regarding the effectiveness of risk management, control and corporate governance processes and add value to the operations through improve business processes. He is championing enterprise-wide risk management throughout the Group and the implementation of continuous auditing to improve efficiencies and coverage.
Joseph holds a Bachelor of Technology (Hons) Degree in Accountancy from the University of Zimbabwe, completed Articles of Clerkship with KPMG and has over 14 years’ experience in financial management and internal audit.
Max Ncube
Previously Max worked for M and S Connections Limited, a Zambian ICT company and played a key role in setting up the business, developing markets and establishing strategic alliances with the supply chain.
His current responsibilities include the identification, evaluation and implementation of business opportunities in liaison with the managing directors of the First Mutual Holdings Limited businesses. In addition, Max works with the Group SBUs in growing existing businesses, improving processes and identifying opportunities for vertical and horizontal integration. Max started his career with KPMG Corporate Finance where he was exposed to various aspects of corporate advisory and transaction services work. After leaving KPMG, Max joined the advisory services department of ReNaissance Merchant Bank, where he was part of a dynamic team that handled high profile ZSE transactions and other transactions of national significance.
Max holds a Bachelor of Commerce (Hons) degree in Finance from the National University of Science and Technology (1999). He also holds a Certificate of Proficiency in Insurance and a Diploma in Computing and Information Processing. He is currently studying towards a Master of Commerce degree in Strategic Management and Corporate Governance, and is now at dissertation stage. He has attended several personal development courses in corporate finance, project finance mechanics, financial modeling in excel and leadership.
Bongai Muhau
Bongai has more than 15 years of diversified experience and underwriting expertise spanning across the entire insurance industry. He started his career with Aon before joining a leading insurance company in Southern Africa. Prior to joining FM Re, he was the Head of Operations for ZB Reinsurance, formerly Intermarket Reinsurance which was previously the Zimbabwean branch of Hollandia Reinsurance of South Africa where he played a critical role in transforming the company as one of the leading and profitable reinsurance companies in Zimbabwe. His core competencies and skills are in technical reinsurance management, pricing, risk management and insurance risk modelling. His expertise in risk has been instrumental in coming up with an internal and proprietary risk Model for the Botswana market. He has conducted various training programmes in technical reinsurance management across the region.
Bongai is a member of the Solvency II Association, Washington and he is a Certified Solvency II Professional (CSiiPro). He also holds a Masters of Science in Risk Management & Insurance as well as a Bachelor of Commerce Honours in Insurance and Risk Management from the National University of Science and Technology (NUST Zimbabwe) and is a member of the Global Association of Risk Professionals (GARP).
Bianca Pasipanodya
As Group Information and Communications Technology executive, Bianca Pasipanodya is responsible for shaping First Mutual Holdings Limited’s long term technology vision, providing strategic direction and management of the Group’s IT infrastructure across the country.
She oversees the group’s IT personnel, leveraging their talent and expertise to identify and pursue new technology initiatives. Bianca also has the responsibility of developing innovative enterprise solutions that solve business issues and reduce IT costs. A holder of an MBA degree from Nottingham Trent University (UK), Bianca brings more than 20 years of experience in IT, with 12 of those being in the financial industry. Her expertise includes business analysis, implementation of ERP and core banking applications, connecting IT to the needs of business and aligning IT costs. Before joining First Mutual Holdings Limited, Bianca Pasipanodya served as Head of ICT at Royal Bank Zimbabwe Limited, and IT Executive at the Infrastructure Development Bank of Zimbabwe (IDBZ). Prior to IDBZ, she held several senior roles in IT at Financial Holdings Limited (Finhold- Zimbank), ICL Zimbabwe Limited, and Zimnat Insurance Company.
Bianca Pasipanodya also holds a post-graduate diploma in Business Management from Nottingham Trent University (UK), a Bachelor of Science degree in Computer Science and Mathematics, and numerous ICT certifications.
David Nyabadza
David is the managing director for NicozDiamond Insurance. An established insurance professional with more than 15 years experience, David started his career with FBC Reinsurance as an Assistant Underwriter in 2001 and rose to become the branch manager for Bulawayo.
He joined the First Mutual group in 2003 as Facultative Manager for First Mutual Reinsurance at its inception. He contributed to the development of the business from a greenfield project to a market leader with significant regional presence. David was promoted to Operations Executive for First Mutual Reinsurance before taking up his current role.
He holds a Bachelor of Commerce Degree in Insurance and Risk Management (Zimbabwe), and a Masters Degree in Business Administration from the Eastern and Southern African Management Institute (ESAMI).
Christopher K. Manyowa
Christopher Kudakwashe Manyowa is the Managing Director of First Mutual Properties . He is responsible for charting the strategic direction of the business ensuring value preservation and growth. Chris is a seasoned professional with more than 25 years’ experience in town planning, property management, formulation and management of projects, valuations, property investment analysis including acquisitions and disposal of properties. He is also an active member of the Real Estate Institute of Zimbabwe and Zimbabwe Institute of Regional & Urban Planners.
Chris started his working career as a Town Planner in the Public Service and Municipal governments, then later qualified as a Registered Estate Agent and Property Valuer. He then left Public service employment to join National Real Estate. He is the former Head of Property Development for Old Mutual Property where he served for seven and half years before joining First Mutual Properties as General Manager Property Services, a position he held for 5 years before his appointment as Managing Director.
Chris holds a BSc Rural & Urban Planning Honours Degree as well as a Master’s degree in Business Administration (MBA), both from the University of Zimbabwe.
Rueben Java
Rueben is a strong entrepreneurial professional who has attended the following international business schools; Cass Business School (The City University, London, UK), INSEAD Business School (France) and GIBS (South Africa). He is also an Associate Actuary with the Institute and Faculty of Actuaries (UK). Rueben also attained the following university degrees; BSc Honours degree in Mathematics (University of Zimbabwe) and MBA (UCT, South Africa). He is a well-seasoned CEO with over 20 years of experience working at senior level leadership in the financial services industry. His admitted skills include Entrepreneurship, Business Leadership, Business Planning, Development of Talent Pools and Risk Management. He previously worked as the MD of First Mutual Life, the General Manager of Old Mutual Zimbabwe, the Group CEO of Old Mutual Kenya and the Group CEO of Fidelity Life Assurance Zimbabwe. He is also credited with being the Founding MD of First Mutual Health Company.
Jabulani Mbengo
Jabulani joined the FMHL Group Internal Audit on 1 April 2019.
Prior to this position, he was the Head Internal Audit, at NicozDiamond Insurance, where he had additional responsibilities for Compliance and Enterprise Risk Management.
He has extensive experience in the Region, having covered insurance operations in Malawi, Mozambique, Uganda and Zambia.
Prior to this position, he held several roles in the Food industry and the insurance industry.
His experience covers, General Management, Financial and Operational auditing, Employee Benefits, Salaries and Medical Aid Administration.
In his role as Financial and Operational Auditor, he covered the whole spectrum of the insurance and investments industry, including Reinsurance, Life insurance, General insurance, Insurance Broking, Asset Management, Property Management, Stockbroking and Property management.
He is qualified as a Chartered Secretary and is currently studying for the Certified Internal Auditor certification.
Thomas Mutswiti
Thomas has thirteen Years (13) experience in Financial Markets with two of these having been spent in Banking Sector (Retail, International Banking and Treasury Operations) and 11 Years in Asset Management Industry covering Fund Management, Investments Research and Analysis and Strategy Facilitation.
Currently he manages an investments portfolio with more than $260m FUM with an actively managed portion of $180m spread across all asset classes. The role entails formulation of the investment strategy in liaison with clients, asset allocation and stock picks, trading counterparties determination & attendant risk management.
Thomas is an Ex officio member of the First Mutual Holdings Group Board Investments Committee and First Mutual Wealth Management (Pvt) Audit Committee and Main Board responsible for Investments Strategy recommendations, implementation and monitoring. Member of First Mutual Holdings Group EXCO.
He has trained Pension Fund Trustees on Investments Management and Analysis.
Participated in the Zimbabwe Independent Quoted Companies Survey & the Zimbabwe Independent Banks & Banking Survey 2017 Report.
He is a Non-Executive Director at Bulls n Bears (Pvt) Ltd, a financial and tech information aggregation company with specific focus on Financial Literacy, leveraging digital platforms for brand and product growth and CRM and a Trustee of the First Capital Bank Employee Share Ownership Trust.
Thomas holds a Masters in Business Administration degree (UZ) majoring in Financial Markets, BComm Finance Degree (Honours) from the National University & Science Technology and the Institute of Bankers Zimbabwe (IOBZ) Diploma. Attended various Leadership Development Programmes including most recently the Pathways Africa Management Development Programme, Success Motivation International Dynamics of Successful Management as well as Colonnade Business School. Hold certificates from Euromoney for Financial Forecasting and Analysis, among other management and technical trainings. Currently a CFA Level III candidate.
Livingstone Magorimbo FIA, FASSAGroup Chief Actuary
Livingstone Magorimbo is the Group Chief Actuary for First Mutual Holdings Limited, a leading financial services group that is committed to creating value through risk management, wealth creation and wealth management, with operations in Zimbabwe, Botswana, Mozambique and Malawi. |
Dulcie Kandwe
Prior to joining the group, Dulcie was employed with CBZ Holdings Ltd as an in-house legal Adviser a position she held from February 2015 to December 2018.
She has professional experience in commercial law, labour law and company law attained when she worked for Gula-Ndebele and Partners Legal Practitioners from 2007 to 2015.
Dulcie holds a Master of Business Administration Degree and a Bachelor of Law Honours Degree from University of Zimbabwe (UZ).
First Mutual Life offers a wide range of innovative products through its two main businesses, namely Employee Benefits and Individual Life Benefits business. First Mutual Life’s primary business activities are the provision of life assurance, retirement benefit products and other long-term financial security products. The company continues to be a pacesetter in the market in producing uniquely innovative life assurance products.
Board Members
Samuel Vengai Rushwaya
Samuel is a former Managing Director of Aberfoyle Holdings (Pvt) Ltd and past Chairman of British American Tobacco Zimbabwe Limited and Standard Chartered Bank Zimbabwe Limited as well as First Mutual Reinsurance Limited. He is also a past Director of CGU Insurance, Portland Holdings Limited, SFG Insurance and First Mutual Limited. He sits on the African Distillers Limited and First Mutual Life Assurance Limited boards. Samuel is a holder of a Bachelor of Science (Sociology) Honours Degree, London and Advanced Diploma in Training Management.
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
William Marere
William was appointed to his current position in September 2012. Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. William served his Articles of Clerkship with Ernst & Young. Upon completion he worked for the companies in the financial services, mining and property development industries including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance. William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
Amos Raymond Tamuonepi Manzai
Amos has senior managerial and executive leadership experience acquired at Deloitte & Touche London and Zimbabwe as senior supervisor. He has also served at ZESA as Deputy General Manager – Finance. Amos has also held the position of Group Finance Director at TA Holdings Ltd and Executive Director Finance & Administration at Standard Chartered Bank Zimbabwe.
He is a Director at Perrenialform Investments Pvt Ltd, Evergid Services Pvt Ltd and Lidle Trading Services (Pvt) Ltd. He holds a BA Honours Economics Degree (Dunelim UK) and is a Chartered Accountant (Zimbabwe).
Gareth Baines
Gareth has experience in the insurance industry and extensive knowledge of life and non-life insurance. Prior to joining the Board, he held executive positions in financial services sector in South Africa, at Guardrisk Insurance Company Limited, AIG South Africa Limited (AIG SA), ABSA Insurance Company, and Nedbank Insurance Limited. Gareth has served on several South African board committees including AIG SA Pension Fund Trustee Chair, Audit sub-committee of AIG SA, Intermediaries Guarantee Facility Limited, as President Institute of Risk Managers South Africa(IRMSA) and IRMSA Education & Technical sub-committee chair. He holds a Bachelor of Business Science in the special field of Finance and a Master of Business Administration (University of Cape Town).
Maitirwa Mukonoweshuro
She is a holder of Bachelor of Accounting Science (Honours), Accounting and Auditing (University of South Africa)
Lydia Mutamuko
Lydiah is currently the Company Secretary at African Distillers Limited, a company listed on the Zimbabwe Stock Exchange. She has over 15 years of experience in both the financial services and manufacturing sectors in Zimbabwe and her areas of expertise include treasury management, company secretarial, accounting and administration. Lydiah is a holder of an MBA and a Bachelor of Accountancy degree from the University of Zimbabwe. She further holds a Chartered Institute of Governance (CGI) and ACCA diplomas.
Management
Rueben Java
Rueben is a strong entrepreneurial professional who has attended the following international business schools; Cass Business School (The City University, London, UK), INSEAD Business School (France) and GIBS (South Africa). He is also an Associate Actuary with the Institute and Faculty of Actuaries (UK). Rueben also attained the following university degrees; BSc Honours degree in Mathematics (University of Zimbabwe) and MBA (UCT, South Africa). He is a well-seasoned CEO with over 20 years of experience working at senior level leadership in the financial services industry. His admitted skills include Entrepreneurship, Business Leadership, Business Planning, Development of Talent Pools and Risk Management. He previously worked as the MD of First Mutual Life, the General Manager of Old Mutual Zimbabwe, the Group CEO of Old Mutual Kenya and the Group CEO of Fidelity Life Assurance Zimbabwe. He is also credited with being the Founding MD of First Mutual Health Company.
Williefaston Chibaya
Willie has more than 15 years working experience in various capacities in the financial and pensions sector, at different institutions. He joined First Mutual Life Assurance Company as the Consultancy Services Manager responsible for client interface on all pensions and risk related solutions. Previously, he worked for an insurance company listed on the Zimbabwe Stock Exchange as a Senior Client Relations Manager.
He holds a Masters in Business Administration Degree, an Honours Degree in Statistics with the University of Zimbabwe (UZ) and a Postgraduate Diploma in Financial Planning with the University of Freestate (SA).
Madalene Wadyewata
Madalene joined First Mutual Life in 1994 as a New Business Administrator and rose through the ranks as Underwriter’s Assistant, Trainee Underwriter, Underwriter, Assistant Manager Underwriting up to an Underwriting Manager.
Her experience in life administration business spans over 25 years. She is the chairperson of the Life Underwriters Association of Zimbabwe, facilitating the enhancement of technical skills for the upcoming Life underwriters in the Industry and promoting communication among underwriters and claims assessors in the Industry.
Madalene is a Chartered Insurer and qualified as an Associate (AIISA) and a Fellow of the Insurance Institute of South Africa (FIISA). She is also a holder of an MBA with MANCOSA.
Madzishe Chipunza
Madzishe is the General Manager of First Mutual Funeral Services. He joined First Mutual Life Assurance Company in 1993 rising through the ranks to become the Marketing and Distribution Executive in charge of the products distribution and branch network.
In 2014 he started Dunamis Advisory Services as the Principal Consultant (an Exclusive Franchising Agency with a focus on the Distribution of Corporates business for the various First Mutual Holdings Limited SBUs business lines).
He was then appointed the General Manager for First Mutual Funeral Services in July 2021 a position he holds till this day.
He is a holder of a Bachelor of Commerce in Marketing from the Zimbabwe Open University. He attended the Stellenbosch Business School, Executive Development Programme. He Holds a Master of Commerce degree in Strategic Management (GZU) and a postgraduate Diploma in Project Management (UZ). He is currently pursuing a Masters Degree in Project Management (ESAMI).
Michelle Madyira
Michelle joined First Mutual Life in October 2021. She is responsible for providing overall strategic and operational leadership of all financial functions for the Life Assurance and Funeral Services Business.
Prior to her appointment, she worked at Ernst & Young having joined in 2009 and served her articles of clerkship. She rose through the ranks and at the time of exit was a Senior Manager in the audit department.
Michelle is a Chartered Accountant and is a member of the Institute of Chartered Accountants Zimbabwe (ICAZ). She also holds a Masters in Strategic Leadership with the University of Zimbabwe.
First Mutual Health is a leading medical aid insurance scheme in Zimbabwe that provides exceptional medical aid cover at competitive rates. With thousands of members cutting across a wide spectrum of the market from non-profit making organisations, government institutions, mining, education, individuals and commerce, we offer the perfect blend of experience, agility and innovation to service our membership exceptionally.
Board Members
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
Nomusa Dube
Nomusa is a director of ART Holdings.
She worked for Deloitte as a senior Audit Manager from 1992 to 1997 and later joined Dunlop Zimbabwe where she assumed the role of a Group Financial Controller from 1997 to 2001. From 2002 to 2005 she became a Chief Financial Officer for Chloride Zimbabwe and moved to Art Holdings as a Chief Financial Officer from 2005 to 2014.
Nomusa is a qualified Chartered Accountant and a holder of Bachelor of Accountancy Degree from the University of Zimbabwe
Dr Tawafadza Makoni
Dr Tawafadza is a director of Rapha Trust and its Associates, T. A. Makoni Dental Care Services P/L, Celebration Ministries International and FMRE Property and Casualty
He is an MBA Lecturer for Nottingham Trent University; Chairman of the Practise Management Committee.
He holds a DBA with Rushmore University, MBA with Nottingham Business School (UK), Doctor of Dental Surgery (Greece) and Certificate of Proficiency
Amos Raymond Tamuwonepi Manzai
Amos has senior managerial and executive leadership experience acquired at Deloitte & Touche London and Zimbabwe as senior supervisor. He has also served at ZESA as Deputy General Manager – Finance. Amos has also held the position of Group Finance Director at TA Holdings Ltd and Executive Director Finance & Administration at Standard Chartered Bank Zimbabwe.
He is a Director at Perrenialform Investments Pvt Ltd, Evergid Services Pvt Ltd and Lidle Trading Services (Pvt) Ltd. He holds a BA Honours Economics Degree (Dunelim UK) and is a Chartered Accountant (Zimbabwe).
James Karidza
He introduced hard currency billing to achieve stability in the face of hyperinflation and set up a uniform budgetary format for the Group for ease of consolidation and reporting.
He is a past Director of various institutions including NicozDiamond Insurance
James is a Chartered Accountant and a holder of a Bachelor of Accountancy Degree. London
Rugare Mandima
Rugare Mandima is an astute legal practitioner with several years of experience, having started practicing in 1985 at Danziger and P artners, Legal Practitioners Gweru as a Professional Assistant and rose through the ranks to become a senior partner, a position he held since 2001
He was appointed a member of the Board of Directors for National Oil Infrastructure Company of Zimbabwe and Finance Committee member from August 2012 to February 2014. Prior to that he was a Director of Kubatana/Ukubambana Investments (PVT) for 2 years before it was placed under re-construction. Rugare was Chairman for ZIFA Midlands disciplinary committee for 10 years and a member of the Chinhoyi University of Technology Council for 3 years.
Currently he is serving as a member of the Board and HR Committee of Foundation Mutual Society. He also sits on the Boards of Blessward Mining Company (Pvt) Ltd, Chimanimani Leisure Company (Private) Limited, First Mutual Health Company and is a member of the RCZ Health services and Community Development Human Resources and Investment Committees.
Rugare holds a BL Honours Degree and LLB Degree from the University of Zimbabwe.
Faith Chaitezvi
Faith is the Managing Director and co-founder of @Connect Global Solutions, a Zimbabwean based business process outsourcing company.
Prior to that was the Regional Marketing Executive for fastjet PLC, a low-cost airline, where she had oversight of the East and Southern African region. Previously, she was the Country Manager for British Airways in Zimbabwe and Uganda, respectively over a fifteen year period, and has been involved in many community outreach programmes both locally and internationally.
Faith holds a BBA degree from Institute of Marketing Management (SA), a MSc in Marketing from Herriot Watt University (UK) and a MBA from Nottingham Trent University (UK).
She is a member of other various boards for both profit and non-profit organisations.
Professor Dexter Tagwireyi
Professor Dexter Tagwireyi is a pharmacist, toxicologist and academician by profession with close to 20 years of experience. He currently works at the University of Zimbabwe (Department of Pharmacy and Pharmaceutical Sciences) where he teaches toxicology and pharmacy related courses at both undergraduate and postgraduate levels. Dexter is a reputed researcher who has published well over 50 journal articles and book chapters in his areas of interest, and is a fellow of the Zimbabwe Academy of Sciences (ZAS). He currently serves in two expert committees of the Medicines Control Authority of Zimbabwe (MCAZ) and is a board member of the Health Professions Authority (HPA), and the Pharmacists Council of Zimbabwe (PCZ). Dexter is also a European Registered Toxicologist (ERT) and is appointed to the World Health Organisation (WHO) roster of snakebite experts in Africa. He holds a Bachelor of Pharmacy (Honours) degree and a PhD in Toxicology both from the University of Zimbabwe. He also holds a Master’s degree in Toxicology (RMIT University, Australia), and an Executive Diploma in Applied Strategy from the Zimbabwe Institute of Management (ZIM).
Jocelyn Chaibva
Mrs Jocelyn M Chaibva is a registered pharmacist with close to 40 years’ experience. Currently she is a community pharmacy owner and has been involved in the regulatory arms of the pharmacy profession. She is currently a committee member of the Pharmacovigilance and Clinical Trials Committee of the Medicines Control Authority of Zimbabwe (MCAZ), current: Vice President of African Pharmaceutical Forum (APF); current Chairperson of Community Pharmacists Association (CPA, formerly RPA (Retail Pharmacists Association) in Zimbabwe, and Patron of Zimbabwe Pharmacy Students Association (ZPSA). She is a former Board member of MCAZ, past-president of the Pharmaceutical Society of Zimbabwe (PSZ) and former Council member of the Pharmacists Council of Zimbabwe, where she sat on various committees during her tenure on these regulatory bodies. She has represented the PSZ on the Council of International Federation of Pharmacists. Mrs Chaibva is actively involved in mentorship of pharmacy students and young pharmacists. She is holder of Bachelor of Pharmacy (Honours) Degree from University of Zimbabwe, Post Graduate Diploma in Clinical Pharmacy, (Queens University of Belfast, Northern Ireland); MBA, (Herriot Watt University, Edinburgh Business School) and Post-graduate Diploma in Global Health Procurement and Supply Chain Management (Kent University of Public Health in collaboration with Empower School of Health, India).
Luckmore Bunu
Luckmore is a community pharmacist with more than a decade of experience. He holds a postgraduate certificate in Paediatric Nutrition from the University of Jefferson, a Master of Science in International Management degree from the University of Liverpool and a Bachelor of Pharmacy Honours degree from the University of Zimbabwe. Currently he has been the team lead in the transformation of the Community Pharmacists Association (CPA) from being a product-oriented association to the current service-oriented association. He hosted the inaugural CPA conference in 2019 and has been team lead in the Vaccinating Pharmacist Training Program in partnership with an Institution of Higher Learning. He is a part time lecturer at a local public health institute and is an external assessor for the Higher Examinations Council (HEXCO). During his part time, Luckmore writes articles for the Pharmaceutical Journal of Zimbabwe.
Farayi Mangwende
Farayi is responsible for providing high level, functional leadership and strategies for all First Mutual Holdings Limited Group companies in the areas of marketing, corporate affairs, internal & external communications, as well as media/stakeholder relations. She is also in charge of the strategy co-ordination and monitoring for the Group.
Her career of more than 25 years has given her experience in various sectors of industry in Zimbabwe, United Kingdom and sub-Saharan Africa where she has had exposure in marketing, corporate communications, public relations, communication strategy formulation & implementation, investor & stakeholder relations, media management, crisis management and event management.
She is a holder of a Master’s degree in Public Communication & Public Relations from the University of Westminster (UK). Farayi is the Marketing Commission Chair for Zimbabwe Olympic Committee, sits on the Southmed Chitungwiza hospital board and is an immediate past trustee for the Culture Fund Trust of Zimbabwe. She is actively involved in fund raising for Harare Central Hospital, well as various other charitable institutions, and is a young adults transformation agent through mentoring programmes. She is a past alumni of the FORTUNE / US State Department / VITAL VOICES Global Women’s Mentoring Programme, Washington D.C. and was one of 33 women leaders from emerging economies globally selected to participate in the programme in April 2011.
Stancy Makuyana
Stancy is a lawyer by profession and is currently a Group Legal Advisor for First Mutual Holdings since June 2020. She is a governance, legal and compliance professional with a demonstrated history of working in the financial services sector. Stancy is a current MBA student with the University of Suffolk, a Certified Compliance Professional (IABFMA – Hong Kong) and holds an International Diploma in Governance, Risk and Compliance from the International Compliance Association /Alliance Manchester Business School. She sits on the Board of AFC Land and Development Bank and is also a member of the Compliance Society of Zimbabwe where she serves as the Vice Chairperson.
Dr Isheanesu Nkomo
Dr Isheanesu Nkomo is a Pharmacist and consultant by profession and is currently a non-executive director of First Mutual Pharmacies (Private) Limited. He was instrumental in the setting up and operationalizing the three First Mutual pharmacies so far in the CBDs of Harare, Bulawayo and Gweru. He is a Past President of the Pharmaceutical Society of Zimbabwe, a past council member of the Pharmacist Council of Zimbabwe and a former Committee Member of the Legal and Disciplinary Committee of the Medicines Control Authority of Zimbabwe (MCAZ). He has over 20 years expertise in the Community Pharmacy section of pharmacy and holds a Doctorate in Business Administration Majoring Health Care Management from Chartered Institute of Management and Leadership (USA) , Masters in Clinical Pharmacology from the University of Zimbabwe and a Bachelors of Pharmacy Honours from the same institution.
Mr Israel Paul Zaba Ndlovu
Consultant specializing in public sector finance.
Previously Finance Director of subsidiaries of TA holdings
Previously City Treasurer of Bulawayo
Previously Senior Accountant at National Railways of Zimbabwe
Director of POSB, CABS, Ingwebu Breweries, Bulilima Mangwe Business Incubator, Member of Opengates (Pvt) Ltd
Fredson Mabhena
Fredson Mabhena is a diligent and result oriented lawyer with several years of experience in both the private and public sector in industries that include Insurance, Mining, and Commercial and Corporate Law. He is currently a Legal Advisor with the Ministry of Labour and Social Welfare where he has held this post for the past three years. Prior to that Fredson held the same post with various public institutions that include, the Ministry of Local Government, Public Works and National Housing as well as the Ministry of Rural Development, Promotion and Preservation of National Culture and Heritage. Fredson began his career in the private sector where he held various positions in organisations that included Musekwe and Associates Legal practitioners, South African Reinsurance Company, and Commercial Union Insurance. Fredson holds a Master of Laws Degree from Midlands State University and Bachelor of Laws Degree from the University of Zimbabwe. He is also a former Associate of the Insurance Institute of South Africa.
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004. Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
William Marere
William was appointed to his current position in September 2012. Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. William served his Articles of Clerkship with Ernst & Young. Upon completion he worked for the companies in the financial services, mining and property development industries including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance. William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
Gareth Baines
Gareth has experience in the insurance industry and extensive knowledge of life and non-life insurance. Prior to joining the Board, he held executive positions in financial services sector in South Africa, at Guardrisk Insurance Company Limited, AIG South Africa Limited (AIG SA), ABSA Insurance Company, and Nedbank Insurance Limited. Gareth has served on several South African board committees including AIG SA Pension Fund Trustee Chair, Audit sub-committee of AIG SA, Intermediaries Guarantee Facility Limited, as President Institute of Risk Managers South Africa(IRMSA) and IRMSA Education & Technical sub-committee chair. He holds a Bachelor of Business Science in the special field of Finance and a Master of Business Administration (University of Cape Town).
Memory Mukondomi
Memory is the Director Finance and Administration in the Ministry of Public Service Labour & Social Welfare. Prior to her current position, she was the Chief Internal Auditor in the Ministry of Industry and International Trade from 2005 to 2011. She was in the COMESA Audit Committee having worked for the Auditor General from 1990 to 2005. Memory holds an Executive Masters of Business Administration from the National University of Science and Technology and Bachelor of Science (Hons) Accounting and Finance – Chinhoyi University.
Evlyn Mkondo
Eve graduated from the University of Zimbabwe with a Bachelor of Accountancy (Honours) degree and became a member of the Institute of Chartered Accountants of Zimbabwe in 1989 after serving articles with Coopers & Lybrand (now Ernst Young) in Harare. Eve has held senior finance positions in organizations spanning power, retail, mobile communications and financial services. She later joined listed conglomerate Star Africa Corporation Limited (formerly ZSR Limited) as Group Finance Director and later as its Group Commercial Director. Eve gained invaluable experience as an Executive Director of the main Board, a director at divisional boards and also at subsidiaries Sugar Industries Botswana Limited, Star Africa International Limited (Mauritius) and ZSR Transport Limited (South Africa). She also sat on the Zimbabwe Sugar Association board. Eve spent a year as Chief Finance Officer of AIM listed African Consolidated Resources Limited before retiring in 2013. Currently she’s serving as non-executive director at Schweppes Zimbabwe Limited, Allied Timbers Limited, First Mutual Properties and Standard Charted Bank Zimbabwe.
Amos Raymond Tamuonepi Manzai
Amos has senior managerial and executive leadership experience acquired at Deloitte & Touche London and Zimbabwe as senior supervisor. He has also served at ZESA as Deputy General Manager – Finance. Amos has also held the position of Group Finance Director at TA Holdings Ltd and Executive Director Finance & Administration at Standard Chartered Bank Zimbabwe.
He is a Director at Perrenialform Investments Pvt Ltd, Evergid Services Pvt Ltd and Lidle Trading Services (Pvt) Ltd. He holds a BA Honours Economics Degree (Dunelim UK) and is a Chartered Accountant (Zimbabwe).
Samuel Vengai Rushwaya
Samuel is a former Managing Director of Aberfoyle Holdings (Pvt) Ltd and past Chairman of British American Tobacco Zimbabwe Limited and Standard Chartered Bank Zimbabwe Limited as well as First Mutual Reinsurance Limited. He is also a past Director of CGU Insurance, Portland Holdings Limited, SFG Insurance and First Mutual Limited. He sits on the African Distillers Limited and First Mutual Life Assurance Limited boards. Samuel is a holder of a Bachelor of Science (Sociology) Honours Degree, London and Advanced Diploma in Training Management.
Elisha Moyo
Elisha is a lawyer by profession and currently practices law in the Law firm Moyo and Partners Legal Practitioners which he founded in October 2011. His specialty is corporate law. In August 2012, Elisha was appointed as Chairman of Pearl Properties (2006) Limited (now First Mutual Properties), and a non-executive director of First Mutual Holdings Limited and TristarInsurance Company Limited. He also sits on several other boards, including Afrosoft Holdings Limited. He is a current PhD student in Business Administration and he holds a Master’s in Business Administration from the University of Zimbabwe, a Bachelor of Laws degree and a Bachelor of Law Honours Degree from the same institution.
Management
Dr Chris Hwingwiri
Before joining First Mutual Health as Claims Manager, Chris was in clinical practice both in the public and private health sectors. In his current role, Chris is responsible for ensuring that the business maintains value for two of its most critical stakeholders – the Fund members and health service providers.
He is on the main register of the Medical and Dental Practitioners Council of Zimbabwe.
Chris is a holder of a Doctor of Medicine (University of Algiers) degree, an MBA in Health Marketing Management (ESG Paris) as well as an MSc in Health Economics (Bindura University). He has a certification in project management (PMZ) and is currently studying towards an executive diploma in Applied Strategy (Zimbabwe Institute of Management).
Daniel Chipangura
Joined First Mutual Health in 2018 as the New Business Development Manager, bringing a wealth of experience in business development, sales management and trade marketing gained in prior engagements in various industries with responsibilities spanning across the SADC region and the Caribbean.
Daniel is a member of the Marketers Association of Zimbabwe (MAZ).
He is a holder of diplomas in Marketing Management and Public Relations, Bachelor of Commerce Degree in Marketing, Post-Graduate Diploma in Management from the National University of Science & Technology (NUST)
Sindiso Ncube
Sindiso joined First Mutual Health in 2009 and has more than 20 years’ experience in Insurance and Customer Services.
He sits on Public Relations Committee of the Association of Health Funders of Zimbabwe (AHFoZ)
Sindiso is a certified Marketing and Client Relationship Management Practitioner.
He holds a Bachelor of Business Administration Degree (MANCOSA) as well as a Diploma in Insurance from the Chartered Institute of Insurance (UK)
Wellington Madya
He is a seasoned healthcare administration executive with experience spanning more than 10 years in the private health services provision space. Wellington has a wealth of experience in healthcare services strategy formulation and review, setting up health service facilities, health care administration and healthcare financial modelling.
Prior to joining First Mutual Health Services, Wellington was in the senior management team at South Medical Chitungwiza hospital and worked on numerous projects to transform the hospital into an integrated business unit. He was also instrumental in the establishment of CitiMed Clinics in Harare and Victoria Falls. He also played a pivotal role in setting up the financial structures of the Private Hospitals Association of Zimbabwe and is the Past Vice Board Chairman of the Institute of Directors in Zimbabwe. He sits on various boards for non-profit making organisations.
Wellington holds a Bachelor of Accountancy Honours from the University of Zimbabwe, a Bachelor of Laws from the University of South Africa, a Chartered Management Accountant designation from the Chartered Institute of Management Accountants United Kingdom, a Chartered Global Management Accountant designation from the American Institute of Certified Public Accountants and a Master of Business Administration from the University of Zimbabwe. He is both a Registered Public Accountant and Legal Practitioner in the Zimbabwean jurisdiction.
Gerald Mudimu
Gerald joined First Mutual Health in July 2022 and is responsible for technical management of First Mutual Life and First Mutual Health businesses. Prior to his appointment, he held the position of Team Leader in the Group Actuarial department for the Health and Short-Term insurance portfolio.
He is a holder of a Bachelor of Commerce Honours in Actuarial and is currently studying towards the Actuarial Fellowship qualification with the Institute and Faculty of Actuaries (IFoA), UK
Nyaradzai Lynette Tasaranarwo FIA
Nyaradzai Lynette Tasaranarwo is the General Manager of First Mutual Health Company, bringing over 16 years of experience in the actuarial, general insurance, and healthcare industries. She holds a Bachelor of Commerce (Honours) degree in Actuarial Science from the National University of Science and Technology and a Master’s degree in Applied Actuarial Science from the University of Kent. She is currently pursuing an MBA at the University of Cape Town’s Graduate School of Business. Nyaradzai qualified as a Fellow of the Institute and Faculty of Actuaries (FIA) through the Health and Care practice area, demonstrating her specialized expertise in healthcare actuarial science. She also holds the Chartered Enterprise Risk Actuary (CERA) designation, reflecting her proficiency in enterprise risk management. Throughout her career, Nyaradzai has held pivotal roles, including Deputy Director of Actuarial, Research, and Data Services at the National Social Security Authority of Zimbabwe (NSSA), Strategy and Research Manager at Premier Service Medical Aid Society, and Business Analyst at NicozDiamond. She has also served as Secretary General of the Actuarial Society of Zimbabwe, contributing significantly to the advancement of the actuarial profession in the country. In her current role at First Mutual Health Company, Nyaradzai leverages her extensive expertise to drive strategic initiatives, enhance operational efficiency, and deliver exceptional healthcare solutions to clients. Her commitment to excellence and innovation continues to strengthen the company’s position as a leading health company.
Dr. Onesai ChiguvareHead of Managed Care
Onesai is a versatile and results-oriented healthcare professional with extensive expertise instituting healthcare solutions. In her current role, she implements healthy living initiatives through wellness, disease management and the investigation and monitoring of fraud, waste and abuse thus facilitating improved patient outcomes, quality care and reduced healthcare costs. She holds a bachelor’s degree in Medicine and in Surgery (MBChB) from the University of Zimbabwe, an MSc in Sexual and Reproductive Medicine from the University of South Wales and certifications in Project Management Monitoring and Evaluation and Leadership and Management in Health. She is currently studying towards an MBA. Onesai sits on the Wells Mountain Initiative (WMI) Medical Scholars Board and is a member of the Medical and Dental Practitioners Council of Zimbabwe |
Emmanuel Sibanda
Emmanuel is a Chartered Accountant (CA(Z), CA(SA)) who trained with PricewaterhouseCoopers during his articleship. He has extensive experience in external audit, covering industries such as financial services, manufacturing, and real estate.
In his post-audit career, Emmanuel has held several key roles within the First Mutual Group. As Group Finance Executive at First Mutual Holdings Limited, he managed various projects, including coordinating the successful implementation of IFRS 17 – Insurance contracts. He has also served as Group Finance Manager, Group Technical Manager, and Senior Accountant at NicozDiamond Insurance.
Throughout his career, he has gained a wealth of expertise in financial strategy formulation, treasury management, financial reporting, and project management.
Emmanuel holds a Bachelor of Commerce in Accounting from the National University of Science and Technology, a Diploma in Advanced Accounting Sciences from the University of South Africa, and a Postgraduate Certificate in the Theory of Accounting from the University of South Africa. He is a Registered Public Accountant (RPAcc) with both the PAAB and SAICA.
Brian Banda
Board Members
Elisha Moyo
Elisha is a lawyer by profession and currently practices law in the Law firm Moyo and Partners Legal Practitioners which he founded in October 2011. His specialty is corporate law. In August 2012, Elisha was appointed as Chairman of Pearl Properties (2006) Limited (now First Mutual Properties), and a non-executive director of First Mutual Holdings Limited and TristarInsurance Company Limited. He also sits on several other boards, including Afrosoft Holdings Limited. He is a current PhD student in Business Administration and he holds a Master’s in Business Administration from the University of Zimbabwe, a Bachelor of Laws degree and a Bachelor of Law Honours Degree from the same institution.
David Nyabadza
David is the managing director for NicozDiamond Insurance. An established insurance professional with more than 15 years experience, David started his career with FBC Reinsurance as an Assistant Underwriter in 2001 and rose to become the branch manager for Bulawayo.
He joined the First Mutual group in 2003 as Facultative Manager for First Mutual Reinsurance at its inception. He contributed to the development of the business from a greenfield project to a market leader with significant regional presence. David was promoted to Operations Executive for First Mutual Reinsurance before taking up his current role.
He holds a Bachelor of Commerce Degree in Insurance and Risk Management (Zimbabwe), and a Masters Degree in Business Administration from the Eastern and Southern African Management Institute (ESAMI).
Bruce Campbell
MBL (UNISA), Bachelor of Arts (NU) FllSA, AllSA
Bruce Campbell is a qualified and seasoned insurer who is an Associate and Fellow of the Chartered Insurance Institute of London.
He holds a Master of Business Leadership from UNISA and has a Bachelor of Arts Degree from Natal University.
He was Chief Executive Officer of Mutual and Federal Insurance Company in South Africa for ten years between 1998 and 2007 and oversaw the successful acquisition and integration of the Protea Insurance Company and Commercial Union.
He has also been chairman and Chief Executive Officer of the Alexander Forbes Group between 2007 and 2010.He has served on the Board of Credit Guarantee as chairman, on the RMI insurance company Zimbabwe as chairman and also as a Director of Mutual Federal in Namibia and the South African Insurance Association Board.
He is currently an independent Director of Santam South Africa and sits on several other non- insurance Boards.
Nester Mukwehwa
Master in Policy Studies, BSc Honors Social Science and Administration
Mrs. Nester Mukwewa is currently the Human Resources Director of Hunyani Paper and Packaging since 2008. She is also a Board member of NSSA, Chairperson of the National Employment Council for the Printing and Packaging Industry, Independent Arbitrator of the Ministry of Public Service and Social Service, Chairperson of Emcoz Labour committee and UZ Council member.
She is a highly experienced human capital specialist and holds a Master in Policy Studies and a BSc Honors Social Science and Administration well as various HR diplomas
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
Antony Makonese
CA (Z); B.Acc Honors.
Antony has senior managerial and executive leadership experience acquired at Nedbank Zimbabwe Limited where he held the position of Chief Finance Officer and Executive Director.
He has also served at Zimnat Lion Insurance Company as Chief Finance Officer and Company Secretary. Antony has also held the position of Group Financial Controller at TA Holdings Ltd and Corporate Finance Manager at KPMG.
He is a Director at PSI Zimbabwe Advisory Trustees Board, Nomtab Investments (Private) Limited, Probay Investments (Private) Limited and A &P Makonese Trust.
He holds a Bachelor of Accountancy Honours Degree from the University of Zimbabwe and is a Chartered Accountant (Zimbabwe).
Dr. Fungayi Primrose Chatiza
Ph.D. in Zoology; Msc in Aquatic Health; BCH
Dr. Chatiza holds a PHD in Zoology from the University of Johannesburg and a Master of Science in Aquatic Health from the same institution.
She is a holder of a Bachelor of Science Honours degree in Biochemistry from the University of Zimbabwe.
She sits on the board of National Biotechnology Authority.
Mrs. Tembiwe Moyo
BSc Honours; MBA
Mrs Moyo is a Chartered Secretary and holds a Bachelor of Accountancy (Honours) degree from Gregg (RSA). She is also a holder of a Masters in Business Administration from Nottingham Business School.
Tembiwe is the current president and board member of Southern Africa Railways Association, a non-executive director of First Capital Bank and sits on several other boards.
John Tendai Mapani
MBA;IISA
ohn is a Chartered Insurer (IISA) with a strong financial background having served as a non-executive director for a combined period of 17 years in various sectors of the economy that include the banking sector. John has over 36 years of insurance experience at both middle and executive management level and has led as President or Chairman of three different Insurance Institutes that include Insurance Institute of Zimbabwe and Insurance Council of Zimbabwe. He currently sits on the board of Standards Association of Zimbabwe. John holds a Masters of Business Administration from The Nottingham Trent University and is a fellow of the Insurance Institute of South Africa.
Management
Noel Manika
MSc. Risk Mgt., BSc. Honors Econ. (UZ), MBA (UZ)
Noel is currently the General Manager Operations at NicozDiamond Insurance Limited where he has contributed immensely towards the formulation and implementation of winning strategies for the company. With more than 24 years of diversified experience in insurance, Noel has established a reputation of upholding very high service level standards & driving customer service through his expertise.
Noel is currently the Chairman of the Insurance Council of Zimbabwe Technical Committee where he has been very influential and has also been instrumental in shaping the insurance industry at large. He presently serves on several Boards of companies including United General Insurance of Malawi, Clover Leaf Panel Beaters and Special Automobile Underwriters of Zimbabwe (SAUZ).
Noel holds a Masters in Business Administration Degree as well as a Master of Science Degree in Insurance & Risk Management. He also possesses a Bachelor of Science Honours Degree in Economics and is an Associate & Fellow of the Insurance Institute of South Africa
Tendai Madziwa
Tendai is responsible for leading the Finance & Administration function of the business with experience in financial reporting, corporate finance, corporate tax, auditing, short term insurance and life assurance.
Prior to joining NicozDiamond in 2019, Tendai worked as Senior Associate for PricewaterhouseCoppers, Audit Supervisor for Deloitte Botswana and Group Finance Manager for First Mutual Holdings Limited. Tendai currently sit on the Microfinance Audit Board Committee as an Alternative Director.
Tendai is a Chartered Accountant (Zimbabwe), an Associate of the Insurance Institute of South Africa (IISA), a holder of an Executive Masters in Business Administration degree from NUST, Diploma in Insurance, BCom Honours degree in Accounting from NUST and Management leadership certificate from University of Cape Town –Graduate School of Business.
Munyaradzi Kativhu
Munya is an experienced insurance professional who has worked for a number of insurance companies where he served in various senior management positions. He brings a wealth of experience gained from previous positions
where he worked as Underwriting Manager, Claims Manager, Head of Operations and General Manager. He joined the First Mutual Group in 2016 as Business Development Manager under its short-term insurance subsidiary before his appointment to the current position.
Munya holds among other qualifications a Master of Science Degree in Risk Management and Insurance from National University of Science and Technology.
Grace Ntuli Chibaya
Grace is an insurer with more than 16 years’ experience in the industry gained from both claims and underwriting. She joined TristarInsurance in 2004 having worked for NicozDiamond as an underwriter. Grace was the
Operations Manager for TristarInsurance before taking up her current role.
She holds a Master’s Degree in Business Administration and a BSc Honours Degree in Economics both from the University of Zimbabwe, Diploma in Insurance (IIZ).
Luwiza Gezani-Munengwa
Luwiza is an insurance practitioner with more than 10 years experience in the insurance industry.
She started her career as a broker before moving to TristarInsurance where she rose through the ranks to become an Underwriting Supervisor a position that she held until her appointment as Head Strategic Business Unit 2
Luwiza holds an Associateship with IISA and is currently studying towards a master’s degree in Strategic Management
Osborn Nyereyemhuka
Msc Strategic Management, AIIZ, EDBL (Zim)
Osborn is a seasoned insurance practitioner with more than 14 years’ experience in the property and casualty insurance sector. He started his career as an underwriter and rose through the ranks to his current position. His experience involves exposure to commercial lines underwriting at both managerial and non-managerial levels, IT system project implementation and quality management systems audits. Osborn holds a Msc in Strategic Management, Associate Diploma in Insurance, Executive Diploma in Business Leadership and a Bachelor of Commerce Honours Degree in Risk and Insurance Management. He is currently pursuing his fellowship studies.
Lloyd Gurira
Lloyd is a short-term insurance practitioner with experience spanning over two decades with a strong bias in Claims across all risk classes, coupled with an eye for detail. Client focused, customer centric and able to interact across various levels.
He holds a Bachelor of Commerce in Risk Management from UNISA, and is an Insurance Fellow with Insurance Institute of South Africa – FIISA.
First Mutual Reinsurance is involved in the provision of reinsurance security in all classes of general insurance and life & health insurance, with a stable credit rating of BBB+ by Global Credit Risk (GCR). In addition, First Mutual Reinsurance trades on a strong retrocession panel with A rated regional and international securities.
The company also provides a diverse range of technical training and risk management services as a total risk solution to its clients. First Mutual Reinsurance also has a strategic business unit call FMRE Property & Casualty in Botswana.
Board Members
Oliver Mtasa
Oliver is a Chartered Accountant. He holds a Bachelor of Accountancy (Honours) degree from the University of Zimbabwe. He is also a holder of a Masters in Business Administration from the same institution. Oliver is a non-executive director of Art Corporation, a Partner at Crowe Horwath Welsa Chartered Accountants and sits on several other boards.
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
Carlson Chisvo
Carlson has over 27 years’ hands on experience gained in the insurance and Reinsurance industries with specific knowledge in Underwriting, Claims (insurance & reinsurance), Performance and marketing management, Business performance Analysis and Development.
Carlson is a Chartered Insurer – Fellow of the Insurance Institute of South Africa (FIISA) and he holds a Postgraduate Diploma in Management for Executives from University of Zimbabwe.
Cynthia Malaba
Cynthia is a Chartered Accountant. She attended the Gordon Institute Of Business Science ‘s global leadership program . Cynthia holds a Bachelor of Accountancy (Honours) degree from the University of Zimbabwe. She is also a holder of a Bachelor of Accounting Science degree (B Compt. Honours), Certificate in the Theory of Accountancy (CTA), and Post Graduate Diploma in Auditing from the University of South Africa. In the past Cynthia held senior positions in organisations that include Delta Corporation, Mega Pak Zimbabwe, OK Zimbabwe and KPMG.
Cynthia is a non-executive director of Rainbow Tourism Group, Bindura Nickel Corporation, Dulys Holding (Pvt) Ltd and past Chairperson of Culture Fund Trust and director of Africa Century (Pvt) Ltd.
Tapiwa Murad Ameer
Tapiwa holds a BSc Engineering Honours degree from the University of Zimbabwe .He has extensive mining and manufacturing experience having worked for Anglo American Corporation ,Unilever and ART Corporation.
Tapiwa held senior management positions as Executive Director of ART Corporation and ultimately as Group CEO of ART Holdings.
Management
Bongai Muhau
Bongai has more than 15 years of diversified experience and underwriting expertise spanning across the entire insurance industry. He started his career with Aon before joining a leading insurance company in Southern Africa. Prior to joining FM Re, he was the Head of Operations for ZB Reinsurance, formerly Intermarket Reinsurance which was previously the Zimbabwean branch of Hollandia Reinsurance of South Africa where he played a critical role in transforming the company as one of the leading and profitable reinsurance companies in Zimbabwe. His core competencies and skills are in technical reinsurance management, pricing, risk management and insurance risk modelling. His expertise in risk has been instrumental in coming up with an internal and proprietary risk Model for the Botswana market. He has conducted various training programmes in technical reinsurance management across the region.
Bongai is a member of the Solvency II Association, Washington and he is a Certified Solvency II Professional (CSiiPro). He also holds a Masters of Science in Risk Management & Insurance as well as a Bachelor of Commerce Honours in Insurance and Risk Management from the National University of Science and Technology (NUST Zimbabwe) and is a member of the Global Association of Risk Professionals (GARP).
Mativenga Chihwenga
Mati joined First Mutual Reinsurance in January 2022 and is responsible for providing overall strategic and operational leadership of all financial functions across the Reinsurance cluster.
Prior to his appointment, he was the First Mutual Group’s Group Finance Executive, having joined in September 2019 from Zimre Holdings Limited where he was the Group Finance Manager.
Mati is a qualified Chartered Accountant and is a member of the Institute of Chartered Accountants Zimbabwe (ICAZ). He did his articles of clerkship with PricewaterhouseCoopers, Harare, after completing his Bachelor of Commerce Honours in Accounting degree with NUST.
Iris Ndumo
Iris Ndumo is the Head of Underwriting with First Mutual Reinsurance. Iris has more than 14 years working experience in the insurance and reinsurance market. Prior to her current role which she has held for five years, Iris worked as a Treaties underwriter for four years and as an underwriter for five years with Altfin Insurance Company.
Iris holds an Honours degree in Insurance and Risk Management with National University of Science and Technology (NUST Zimbabwe) and an Executive Masters in Business Management with East and Southern African Management Institute (ESAMI).
Rangarirai Verenga
Rangarirai Verenga joined First Mutual Reinsurance on the 1st of December 2022 as General Manager of International Business. He is responsible for the Regional portfolio and the business’s Life and Health division.
Ranga has almost 20 years of Insurance experience, having started his career as a trainee with NicozDiamond Insurance and rising through the ranks to the position of Branch Manager before joining Grand Reinsurance as Facultative Manager where again he was promoted to the General Manager Zimbabwe position before joining First Mutual Reinsurance as General Manager International Business.
He holds a Bachelor of Commerce Degree in Banking from the National University of Science and Technology. He is now at the final stage of his Master of Science in Risk Management and Insurance at the same University.
During his long stint at NicozDiamond Insurance, he was part of the key personnel that formed a talent pool that the Company would tap into for various assignments. Notable assignments were secondments to First Insurance Company (FICO) in Uganda, a subsidiary of NicozDiamond Insurance, then, on two separate occasions, stood in as Operations Manager (May 2013 to May 2014), as well as Acting General Manager (April 2015 to May 2015) as the Company was looking to fill up these positions.
First Mutual Wealth is a registered Investments Manager under the Securities and Exchange Commission (SEC). It offers a wide variety of Wholesale Investment Products of Stand-alone Segregated Portfolios to Pension Funds, First Mutual Group Companies and High Net-worth Clients. It is also involved in the unit trust business which enables the company to offer investment products to the mass market through its affordable and flexible Individual Investment Accounts.
Board Members
Oliver Mtasa
Oliver is a Chartered Accountant. He holds a Bachelor of Accountancy (Honours) degree from the University of Zimbabwe. He is also a holder of a Masters in Business Administration from the same institution. Oliver is a non-executive director of Art Corporation, a Partner at Crowe Horwath Welsa Chartered Accountants and sits on several other boards.
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
William Marere
William was appointed to his current position in September 2012. Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. William served his Articles of Clerkship with Ernst & Young. Upon completion he worked for the companies in the financial services, mining and property development industries including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance. William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
Davison Mupasiri
Davison is the Compliance and Money Laundering Reporting Officer for the company. He is also the Compliance Officer for First Mutual Holdings Group.
Davison’s responsibility is to ensure the implementation of the company’s Compliance Policy Framework and to continue to inculcate a culture of compliance within the company. He is also responsible for oversight and monitoring of Anti-Money Laundering (AML) by the company and its employees. The position is also responsible for identifying, assessing, advising on, monitoring, reporting on regulatory compliance, drafting, implementing and managing compliance risk management plans. Prior to joining First Mutual, Davison worked for National Foods, ICL and Silke Computers.
Davison is a holder of a Bachelor of Science (Honours) Degree in Applied Accounting (ACCA/Oxford Brookes University) and has more than 20years experience in accounting, internal audit and compliance. Additionally Davison has attended several courses in General Tax, Tax Planning and Compliance (Compliance Institute of South Africa)
Management
Thomas Mutswiti
Thomas has thirteen Years (13) experience in Financial Markets with two of these having been spent in Banking Sector (Retail, International Banking and Treasury Operations) and 11 Years in Asset Management Industry covering Fund Management, Investments Research and Analysis and Strategy Facilitation.
Currently he manages an investments portfolio with more than $260m FUM with an actively managed portion of $180m spread across all asset classes. The role entails formulation of the investment strategy in liaison with clients, asset allocation and stock picks, trading counterparties determination & attendant risk management.
Thomas is an Ex officio member of the First Mutual Holdings Group Board Investments Committee and First Mutual Wealth Management (Pvt) Audit Committee and Main Board responsible for Investments Strategy recommendations, implementation and monitoring. Member of First Mutual Holdings Group EXCO.
He has trained Pension Fund Trustees on Investments Management and Analysis.
Participated in the Zimbabwe Independent Quoted Companies Survey & the Zimbabwe Independent Banks & Banking Survey 2017 Report.
He is a Non-Executive Director at Bulls n Bears (Pvt) Ltd, a financial and tech information aggregation company with specific focus on Financial Literacy, leveraging digital platforms for brand and product growth and CRM and a Trustee of the First Capital Bank Employee Share Ownership Trust.
Thomas holds a Masters in Business Administration degree (UZ) majoring in Financial Markets, BComm Finance Degree (Honours) from the National University & Science Technology and the Institute of Bankers Zimbabwe (IOBZ) Diploma. Attended various Leadership Development Programmes including most recently the Pathways Africa Management Development Programme, Success Motivation International Dynamics of Successful Management as well as Colonnade Business School. Hold certificates from Euromoney for Financial Forecasting and Analysis, among other management and technical trainings. Currently a CFA Level III candidate.
Simbarashe Mangwendedza
Simbarashe has 12 years’ experience as an investment professional in Zimbabwe having worked under different business units for blue chip rated financial services companies as well as an up and coming investment banking group. This includes working as both a buy side and sell side Research Analysts at Old Mutual Investment Group as an Economic Analyst and as the Research Analyst at Old Mutual Securities and Senior Associate of Research at Akribos Research Services before joining First Mutual Wealth as a Senior Investments Analyst. At First Mutual Wealth Simbarashe was subsequently promoted to Fund Manager and he currently supervises the research function and subsequent portfolio fund management and trading for the FMHL group.
He is a mentor for the National University of Science and Technology winning team for the inaugural CFA Research Challenge Zimbabwe
Simbarashe holds a BSc Honours Degree in Economics with University of Zimbabwe. He passed the CFA Level II Exam, Python Career Track Data Analyst Certified, Investment Professional Association of Zimbabwe member and Judge Member of the Financial Gazette Top Company Survey.
Engineer Andrew Manezhu
Andrew Manezhu has worked in various senior positions involving Private Equity Real Estate and infrastructure investments. With a civil and Structural Engineering background, Andrew has lead several projects as a Project Manager including the recently commissioned students accommodation in Chinhoyi, Chinhoyi Varsity Heights.
In his previous roles, Andrew has held a position of Project Manager with First Mutual Properties, a public listed property company and position of Executive officer Works and Engineering Services with Marondera Rural District council with a track record of several successful projects.
As Head of Alternative Investments and Projects at First Mutual Wealth, he supports the General Manager in overseeing management of the Alternative Investments and Projects portfolio. He is a Project Management Professional (PMP®) with the Project Management Institute(USA) and a holder of a MSC in Strategic Management with Chinhoyi University of Technology, amongst other qualifications.
First Mutual Microfinance (“FMM”) is a registered micro-lender under the Reserve Bank of Zimbabwe. The Company offers a diverse range of products including personal loans, SME loans, agricultural loans, asset loans and order financing. The product offering is skewed to productive and financially excluded markets-utilizing loan structures such as value chain and group financing. The FMM team provides innovative customer centric financial solutions with a view of promoting outreach and a sustainable economic environment.
Board Members
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
Max Ncube
Previously Max worked for M and S Connections Limited, a Zambian ICT company and played a key role in setting up the business, developing markets and establishing strategic alliances with the supply chain.
His current responsibilities include the identification, evaluation and implementation of business opportunities in liaison with the managing directors of the First Mutual Holdings Limited businesses. In addition, Max works with the Group SBUs in growing existing businesses, improving processes and identifying opportunities for vertical and horizontal integration. Max started his career with KPMG Corporate Finance where he was exposed to various aspects of corporate advisory and transaction services work. After leaving KPMG, Max joined the advisory services department of ReNaissance Merchant Bank, where he was part of a dynamic team that handled high profile ZSE transactions and other transactions of national significance.
Max holds a Bachelor of Commerce (Hons) degree in Finance from the National University of Science and Technology (1999). He also holds a Certificate of Proficiency in Insurance and a Diploma in Computing and Information Processing. He is currently studying towards a Master of Commerce degree in Strategic Management and Corporate Governance, and is now at dissertation stage. He has attended several personal development courses in corporate finance, project finance mechanics, financial modeling in excel and leadership.
Antony Makonese
CA (Z); B.Acc Honors.
Antony has senior managerial and executive leadership experience acquired at Nedbank Zimbabwe Limited where he held the position of Chief Finance Officer and Executive Director.
He has also served at Zimnat Lion Insurance Company as Chief Finance Officer and Company Secretary. Antony has also held the position of Group Financial Controller at TA Holdings Ltd and Corporate Finance Manager at KPMG.
He is a Director at PSI Zimbabwe Advisory Trustees Board, Nomtab Investments (Private) Limited, Probay Investments (Private) Limited and A &P Makonese Trust.
He holds a Bachelor of Accountancy Honours Degree from the University of Zimbabwe and is a Chartered Accountant (Zimbabwe).
Memory Mukondomi
Memory is the Director Finance and Administration in the Ministry of Public Service Labour & Social Welfare. Prior to her current position, she was the Chief Internal Auditor in the Ministry of Industry and International Trade from 2005 to 2011. She was in the COMESA Audit Committee having worked for the Auditor General from 1990 to 2005. Memory holds an Executive Masters of Business Administration from the National University of Science and Technology and Bachelor of Science (Hons) Accounting and Finance – Chinhoyi University.
William Marere
William was appointed to his current position in September 2012. Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. William served his Articles of Clerkship with Ernst & Young. Upon completion he worked for the companies in the financial services, mining and property development industries including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance. William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
Management
Max Ncube
Previously Max worked for M and S Connections Limited, a Zambian ICT company and played a key role in setting up the business, developing markets and establishing strategic alliances with the supply chain.
His current responsibilities include the identification, evaluation and implementation of business opportunities in liaison with the managing directors of the First Mutual Holdings Limited businesses. In addition, Max works with the Group SBUs in growing existing businesses, improving processes and identifying opportunities for vertical and horizontal integration. Max started his career with KPMG Corporate Finance where he was exposed to various aspects of corporate advisory and transaction services work. After leaving KPMG, Max joined the advisory services department of ReNaissance Merchant Bank, where he was part of a dynamic team that handled high profile ZSE transactions and other transactions of national significance.
Max holds a Bachelor of Commerce (Hons) degree in Finance from the National University of Science and Technology (1999). He also holds a Certificate of Proficiency in Insurance and a Diploma in Computing and Information Processing. He is currently studying towards a Master of Commerce degree in Strategic Management and Corporate Governance, and is now at dissertation stage. He has attended several personal development courses in corporate finance, project finance mechanics, financial modeling in excel and leadership.
Brighton Mandeya
Brighton is the Finance Manager for the company with more than 15 years of experience in the financial services sector. He leads the business financial strategy including financial reporting, financial control, financial regulatory compliance, and the optimisation of balance sheet structure. Previously he was with First Mutual Holdings Limited where he held roles in financial management and financial reporting.
Brighton is an Accredited Certified Chartered Accountant (ACCA member) and holds a Bachelor of Science in Mathematics and Statistics Degree from the University of Zimbabwe.
Elisha Makwarimba
Elisha Makwarimba is a seasoned Investments & Banking practitioner with over 15 years of hands -on experience. He has a wealth of experience in Financial Markets, Investments, Corporate Finance, Treasury Management as well as Property Development & Real Estate having served as Investment Analyst and Head of Treasury for NicozDiamond Insurance Limited before assuming his current duties with First Mutual Microfinance.
He holds a Bachelor of Business Studies Honours Degree in Finance & Banking (UZ,2007), Master of Science Degree in Finance & Investments (NUST, 2015) and a Masters in Business Administration Degree (NUST, 2018). He is also a holder of a Diploma in Transformational Leadership [LASOF, 2012], Certificate of Proficiency (Short Term Insurance, IIZ, 2013) and a Certificate of Proficiency (Trusteeship, IIZ,2018).
Rueben Java
Rueben is a strong entrepreneurial professional who has attended the following international business schools; Cass Business School (The City University, London, UK), INSEAD Business School (France) and GIBS (South Africa). He is also an Associate Actuary with the Institute and Faculty of Actuaries (UK). Rueben also attained the following university degrees; BSc Honours degree in Mathematics (University of Zimbabwe) and MBA (UCT, South Africa). He is a well-seasoned CEO with over 20 years of experience working at senior level leadership in the financial services industry. His admitted skills include Entrepreneurship, Business Leadership, Business Planning, Development of Talent Pools and Risk Management. He previously worked as the MD of First Mutual Life, the General Manager of Old Mutual Zimbabwe, the Group CEO of Old Mutual Kenya and the Group CEO of Fidelity Life Assurance Zimbabwe. He is also credited with being the Founding MD of First Mutual Health Company.
Williefaston Chibaya
Willie has more than 15 years working experience in various capacities in the financial and pensions sector, at different institutions. He joined First Mutual Life Assurance Company as the Consultancy Services Manager responsible for client interface on all pensions and risk related solutions. Previously, he worked for an insurance company listed on the Zimbabwe Stock Exchange as a Senior Client Relations Manager.
He holds a Masters in Business Administration Degree, an Honours Degree in Statistics with the University of Zimbabwe (UZ) and a Postgraduate Diploma in Financial Planning with the University of Freestate (SA).
Madalene Wadyewata
Madalene joined First Mutual Life in 1994 as a New Business Administrator and rose through the ranks as Underwriter’s Assistant, Trainee Underwriter, Underwriter, Assistant Manager Underwriting up to an Underwriting Manager.
Her experience in life administration business spans over 25 years. She is the chairperson of the Life Underwriters Association of Zimbabwe, facilitating the enhancement of technical skills for the upcoming Life underwriters in the Industry and promoting communication among underwriters and claims assessors in the Industry.
Madalene is a Chartered Insurer and qualified as an Associate (AIISA) and a Fellow of the Insurance Institute of South Africa (FIISA). She is also a holder of an MBA with MANCOSA.
Madzishe Chipunza
Madzishe is the General Manager of First Mutual Funeral Services. He joined First Mutual Life Assurance Company in 1993 rising through the ranks to become the Marketing and Distribution Executive in charge of the products distribution and branch network.
In 2014 he started Dunamis Advisory Services as the Principal Consultant (an Exclusive Franchising Agency with a focus on the Distribution of Corporates business for the various First Mutual Holdings Limited SBUs business lines).
He was then appointed the General Manager for First Mutual Funeral Services in July 2021 a position he holds till this day.
He is a holder of a Bachelor of Commerce in Marketing from the Zimbabwe Open University. He attended the Stellenbosch Business School, Executive Development Programme. He Holds a Master of Commerce degree in Strategic Management (GZU) and a postgraduate Diploma in Project Management (UZ). He is currently pursuing a Masters Degree in Project Management (ESAMI).
Michelle Madyira
Michelle joined First Mutual Life in October 2021. She is responsible for providing overall strategic and operational leadership of all financial functions for the Life Assurance and Funeral Services Business.
Prior to her appointment, she worked at Ernst & Young having joined in 2009 and served her articles of clerkship. She rose through the ranks and at the time of exit was a Senior Manager in the audit department.
Michelle is a Chartered Accountant and is a member of the Institute of Chartered Accountants Zimbabwe (ICAZ). She also holds a Masters in Strategic Leadership with the University of Zimbabwe.
First Mutual Properties Limited is a public listed property company incorporated in Zimbabwe and its principal activities are property investment, development and management. First Mutual Properties actively manages a diverse property portfolio that spans office parks, Central Business District (CBD) retail, CBD offices, suburban retail and industrial. The growth of the company is premised around property acquisitions and developments.
Oyster Real Estate Oyster Real Estate is the trading name for First Mutual Properties. Oyster, a fully licensed entity, provides professional property services that include property management, facilities management, property development, property investment and valuations.
Board Members
Elisha Moyo
Elisha is a lawyer by profession and currently practices law in the Law firm Moyo and Partners Legal Practitioners which he founded in October 2011. His specialty is corporate law. In August 2012, Elisha was appointed as Chairman of Pearl Properties (2006) Limited (now First Mutual Properties), and a non-executive director of First Mutual Holdings Limited and TristarInsurance Company Limited. He also sits on several other boards, including Afrosoft Holdings Limited. He is a current PhD student in Business Administration and he holds a Master’s in Business Administration from the University of Zimbabwe, a Bachelor of Laws degree and a Bachelor of Law Honours Degree from the same institution.
Douglas Hoto
Douglas is an accomplished business leader and Group Chief Executive Officer of FMHL. He holds a Bachelor of Science Honours Degree in Mathematics (University of Zimbabwe), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA). Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings and First Mutual Limited. In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
William Marere
William was appointed to his current position in September 2012. Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. William served his Articles of Clerkship with Ernst & Young. Upon completion he worked for the companies in the financial services, mining and property development industries including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance. William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
Christopher K. Manyowa
Christopher Kudakwashe Manyowa is the Managing Director of First Mutual Properties . He is responsible for charting the strategic direction of the business ensuring value preservation and growth. Chris is a seasoned professional with more than 25 years’ experience in town planning, property management, formulation and management of projects, valuations, property investment analysis including acquisitions and disposal of properties. He is also an active member of the Real Estate Institute of Zimbabwe and Zimbabwe Institute of Regional & Urban Planners.
Chris started his working career as a Town Planner in the Public Service and Municipal governments, then later qualified as a Registered Estate Agent and Property Valuer. He then left Public service employment to join National Real Estate. He is the former Head of Property Development for Old Mutual Property where he served for seven and half years before joining First Mutual Properties as General Manager Property Services, a position he held for 5 years before his appointment as Managing Director.
Chris holds a BSc Rural & Urban Planning Honours Degree as well as a Master’s degree in Business Administration (MBA), both from the University of Zimbabwe.
Temba Ruvingo
Temba is a Chartered Accountant (both Zimbabwe and South Africa), a holder of Masters of Business Leadership degree from UNISA, an Associate member of the Institute of Bankers of Zimbabwe. Currently he is the Finance Director at AFC Commercial Bank and prior to that he worked for NMB Bank, PwC Chartered Accountants as well as EY Chartered Accountants where served his Articles of Clerkship
Management
Christopher K. Manyowa
Christopher Kudakwashe Manyowa is the Managing Director of First Mutual Properties . He is responsible for charting the strategic direction of the business ensuring value preservation and growth. Chris is a seasoned professional with more than 25 years’ experience in town planning, property management, formulation and management of projects, valuations, property investment analysis including acquisitions and disposal of properties. He is also an active member of the Real Estate Institute of Zimbabwe and Zimbabwe Institute of Regional & Urban Planners.
Chris started his working career as a Town Planner in the Public Service and Municipal governments, then later qualified as a Registered Estate Agent and Property Valuer. He then left Public service employment to join National Real Estate. He is the former Head of Property Development for Old Mutual Property where he served for seven and half years before joining First Mutual Properties as General Manager Property Services, a position he held for 5 years before his appointment as Managing Director.
Chris holds a BSc Rural & Urban Planning Honours Degree as well as a Master’s degree in Business Administration (MBA), both from the University of Zimbabwe.
Esward Munyangadzi
Esward is the Property Valuer and has more than 21 years’ experience in real estate and is responsible for the valuation of client’s property portfolios, residential and commercial property sales, property leasing and the acquisition of properties for First Mutual Properties.
He started off his career from Knight Frank Zimbabwe where he was a Senior Valuer (land and buildings). Prior to Knight Frank he was involved in residential property management/maintenance with Purkis Real Estate and mass valuations for rating valuation purposes with Rating Valuers (Private) Limited.
He is currently studying towards an MSc in Property Investment with the University College of Estate Management (In conjunction with the University of Reading (UK).
Dumisani Tshabalala
Dumisani joined First Mutual Properties in January 2023 and is responsible for providing strategic and operational leadership of all financial functions under First Mutual Properties. Prior to this appointment, Dumisani was First Mutual Holding’s Group Finance Executive and prior to that was a Finance Manager under First Mutual Health Services having joined the Group in 2020. This has gained him experience in financial reporting, corporate finance, project management, project financing, auditing, and health-services strategy formulation, healthcare financial modelling, regulation & operationalisation.
Dumisani is a qualified Chartered Accountant as a member of the Institute of Chartered Accountants Zimbabwe (ICAZ) and is a Registered Public Accountant. He did his articles of clerkship with PricewaterhouseCoopers, Harare, after completing his Bachelor of Commerce General Accounting degree with Nelson Mandela University. Dumisani is currently studying towards a Master of Business Administration qualification at the University of Zimbabwe.
First Mutual Funeral Services (“FMFS”) primary focus is the provision of funeral services that caters for the needs of the Zimbabwean market. The company offers clients a choice to get full funeral services packages or shop from a range of ancillary service and products that meets their needs. To ensure guaranteed quality and value for money for its clients, the company will commission a casket manufacturing factory and harness its skills and talent to provide world class caskets and related products for the local market and export.
