Masimba Holdings

What Masimba Holdings does

Masimba Holdings Limited is a Zimbabwe-headquartered contracting and industrial group (founded 1934; listed on the Zimbabwe Stock Exchange since 1974) that delivers engineering and infrastructure solutions across agriculture, commercial, communications, housing, mining, water, energy, and transport sectors. Operations are organized through five wholly-owned business units: Construction (core contracting), Stemrich Investments (holding entity), Chimene Plant & Equipment (plant and machinery), Structural Steel & Fabrication, and Masimba Properties (real estate development). The company claims a 100% project success rate and over 15 million LTI-free man-hours, and its project portfolio includes the Victoria Falls Hydro-Electric Station, Joshua Mqabuko Nkomo International Airport, Harare-Beitbridge Highway, Tokwe Mukosi Dam, Hwange Power Station, and the Karo mining civils works.

The company makes money primarily through project-based B2B construction and infrastructure contracts with government ministries, parastatals, international organizations (e.g., UNDP), and private-sector clients across Zimbabwe, Zambia, Mozambique, and Malawi. Pricing is bespoke per project (scope, complexity, materials, timeline) rather than tiered, with billing typically structured as multi-year contracts. Its go-to-market is direct enterprise sales to large public- and private-sector clients requiring civil, building, mining, water, energy, and transport infrastructure. Following Zumbani Capital's 2024 acquisition of the 46.46% stake previously held by Murray & Roberts South Africa, the group rebranded from Murray & Roberts (Zimbabwe) Limited to Masimba Holdings Limited and is now executing a governance and leadership refresh (board change November 2024, new Executive Director August 2025, auditor rotation from 2026). The group operates with a 1,200-person workforce as of February 2026 and is currently ranked among the top five best-performing stocks on the ZSE.

Name

Masimba Holdings

Legal name

Masimba Holdings Limited

Website

https://masimbagroup.com

Company type

Public

Founded year

1934

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Masimba Holdings Limited is a Zimbabwe-headquartered contracting and industrial group, listed on the Zimbabwe Stock Exchange since 1974, delivering engineering and infrastructure solutions across housing, mining, roads, water, energy, transport, and commercial sectors to government, parastatal, and private-sector clients in Southern Africa.

Ownership category

akta.pro rank

Product category

Construction and Infrastructure Services

NAICS

Support Activities for Mining (213), Mining Machinery and Equipment Manufacturing (333131)

SIC

Operative Builders (1531)

akta.pro primary industry

Hauling, Spoil Management & Disposal (Muck Away) (IMAFAKAJ)

akta.pro secondary industries

Contract Crushing, Screening & Materials Handling (In-Pit/ROM, Conveying, Stockpiling) (IMAKAKAH), Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout) (IMAKAOAE), Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

Keywords

• Construction services
• Infrastructure development
• Civil engineering
• Roads construction
• Mining infrastructure

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Infrastructure and Construction Contracts: Masimba generates revenue through contracting and infrastructure solutions, delivering projects across multiple sectors including building & civils, mining, roads, water, energy, transport, communications, housing, and agriculture. Projects range from road construction to airport development to water infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Masimba Holdings is a Zimbabwean construction and infrastructure company delivering civil engineering services across roads and earthworks, mining infrastructure, buildings, water and energy infrastructure, transport infrastructure, and housing development. The company operates through subsidiaries including a construction division, plant and equipment hire, structural steel fabrication, and property development, serving government, parastatals, mining houses, and private sector clients.

Product overview

Masimba Holdings is a diversified Zimbabwean contracting and industrial group that operates through five distinct business units: Construction (core contracting), Stemrich Investments (investment holding), Chimene Plant & Equipment (equipment solutions), Structural Steel & Fabrication (steel engineering), and Masimba Properties (real estate development). The company delivers engineering and infrastructure solutions across agriculture, commercial, communications, housing, mining, water, energy, and transport sectors throughout Zimbabwe and Southern Africa, with a portfolio spanning roads and earthworks, mining infrastructure, buildings and civils, water and energy projects, and transport infrastructure. Listed on the Zimbabwe Stock Exchange since 1974, the group operates with a 'Zero Harm' philosophy and maintains a 100% project success rate.

Differentiator

Problem solved

Functional benefit

Products and services

• Roads and Earthworks
• Mining Infrastructure
• Buildings and Civils
• Water and Energy Infrastructure
• Transport Infrastructure
• Housing Infrastructure Development
• Plant and Equipment Hire
• Structural Steel Fabrication

Quantifiable outcome

• 100% project success rate
• +2 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Geo Pomona Waste ManagementsupportingOthers · 1 January 2024Partnership for responsible waste disposal in compliance with EMA (Environmental Management Agency) regulations. This partnership supports Masimba's sustainability initiatives and environmental compliance.

Scale indicators6 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• Murray & Roberts Holdings: Former majority shareholder and corporate parent of Masimba until the Zumbani Capital buyout; a major South African engineering and infrastructure group with overlapping capabilities in mining civils, building and infrastructure contracting, historically directly comparable as the legacy umbrella.
• Aveng Group: South African construction and engineering group operating across mining, infrastructure, and steel fabrication; comparable to Masimba in that it serves mining and public-sector clients in Southern Africa and runs a similar mix of contracting and structural steel/fabrication businesses.
• WBHO Construction: Wilson Bayly Holmes-Ovcon is one of the largest listed South African building and civil contractors; comparable on roads, earthworks, mining civils and building construction across Southern Africa, with a significantly larger scale but directly overlapping service lines.

Direct peers

• Stefanutti Stocks: South African multi-disciplinary construction group active in roads, earthworks, mining infrastructure and structural steel; closely comparable to Masimba in scope, sector mix, and delivery model across Southern Africa.
• Concor Construction: South African civil engineering and building contractor with strong franchises in roads, earthworks, mining infrastructure and concrete structures; directly comparable to Masimba's contracting and structural steel offerings and frequently competes with it for Southern African tenders.
• Raubex Construction: South African contractor whose subsidiaries (including ENI Construction) focus on roads, earthworks and mining infrastructure across Southern Africa; directly comparable to Masimba's roads-and-earthworks and mining civils revenue streams.

Emerging players

• China Jiangsu International (Zimbabwe): Chinese state-owned EPC contractor active on major Zimbabwean and broader Southern African infrastructure projects (roads, buildings, water); directly comparable in service mix but competes against Masimba as a low-cost international entrant.

Regional players

• Lopes+Sailor Construction (Zimbabwe): Zimbabwean contractor delivering roads, buildings, dams and water infrastructure; a domestic peer competing with Masimba for many of the same government and parastatal contracts in the local Harare and provincial markets.
• Bitumen World: Zimbabwean specialist road construction and surfacing contractor; comparable to Masimba's Roads and Earthworks business unit and a frequent co-bidder on Zimbabwean road authority tenders.

Others

• Proplastics Limited: Former Masimba subsidiary unbundled and separately listed on the ZSE in 2015; comparable as a fellow ZSE-listed industrial that grew out of Masimba's diversified industrial portfolio, providing a reference point for Zimbabwean capital-markets valuations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/MasimbaHoldings
• Facebookfacebook.com/MasimbaHoldingsLimited
• LinkedInlinkedin.com/company/masimba-holdings-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Masimba Holdings