Nyaradzo Group

What Nyaradzo Group does

Nyaradzo Group is a privately held Zimbabwean financial services and funeral assurance group founded in 2001 by Philip Mataranyika and headquartered in Harare. It operates as a platform of complementary subsidiaries: Nyaradzo Life Assurance Company (core life and funeral cover across Score Pack, Six Pack, Group, Civil Servants and Uniformed Forces, SIP, and Conventional policies), Nyaradzo Funeral Services, Calundike Exports (furniture, coffin and casket manufacturing — described as the largest wood dome casket producer in Zimbabwe with 45+ designs), Eureka Insurance Brokers (short-term householder, homeowner, motor, business, and agricultural insurance), Sahwira Events and Lifestyle (catering, equipment hire, mobile kitchens and restrooms), Nyaradzo Asset Management, and Nyaradzo Bureau de Change. The group's primary technology layer is a self-service web portal (selfservice.nyaradzo.co.zw), an online payment gateway (pay.sahwi.net), the SIP diaspora site (sip.nyaradzo.global), and the Sahwira Connect Card for swipe-based grocery allowance and premium payments.

The group generates revenue through monthly recurring premiums on subscription-based funeral and life assurance policies, short-term insurance brokerage commissions, hardware sales of caskets and furniture, event management and equipment hire fees, asset management fees, and bureau de change transaction fees. Go-to-market is hybrid: a 42+ branch physical distribution network across Zimbabwe plus regional offices in Randburg (South Africa) and Letchworth (UK); direct sales teams targeting corporate Group Plan customers and government employee schemes; community-led channels via burial societies; and football club sponsorships (Chicken Inn, Caps United, Highlanders, Dynamos, Black Rhinos) under Score Pack Plan as awareness drivers.

Customer segments span individual and family policyholders (primary), diaspora Zimbabweans abroad (primary, served via SIP), corporate/employer groups (primary), burial societies (secondary), and Zimbabwean civil servants and uniformed forces (secondary). With 1,500+ employees and a stated 25-year track record, Nyaradzo's strategy centres on vertical integration — manufacturing its own caskets, running its own events supply, and now adding asset management and forex services — combined with diaspora-led geographic expansion across Africa, the UK, and beyond.

Name

Nyaradzo Group

Legal name

Nyaradzo Group

Website

https://nyaradzo.co.zw

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Nyaradzo Group is a Zimbabwe-founded, privately held financial services and funeral assurance platform operating 42+ branches across Zimbabwe, South Africa, and the UK, serving individual, family, corporate, government, and diaspora customers through recurring insurance premiums, manufacturing, events, and asset management services.

Ownership category

akta.pro rank

Product category

Funeral Assurance and Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Death Care Services (8122)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Final Expense / Burial Life Insurance (FSAIABAF)

akta.pro secondary industries

Basic Group Term Life (Employer-Paid) (FSAIADAA), Family Coordination & Decision Support (Heirlooms, Keepsakes, Distribution) (HSAFAFAL)

Keywords

• Funeral assurance
• Life insurance
• Casket manufacturing
• Short-term insurance brokerage
• Events management

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices19 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Life and Funeral Assurance Premiums: Recurring premium payments from policyholders across multiple plan types including Score Pack Plan, Six Pack Plan, Sahwira International Plan (SIP), Group Plans, and Conventional Policies. Premiums reviewed periodically to maintain service value amid economic conditions.
2. Sahwira Events and Lifestyle Services: Event management, equipment hire (tents, chairs, mobile kitchens, mobile restrooms, generators), and catering services for corporate events, weddings, and family gatherings.
3. Calundike Furniture Manufacturing: Manufactures coffins, caskets, and furniture. Coffin and casket production supplies internal funeral services while furniture is sold externally.
4. Eureka Insurance Brokers: Short-term insurance brokerage offering householder, homeowner, business, motor, and agricultural insurance products.
5. Bureau de Change: Foreign exchange services at service centres including Head Office, Robert Gabriel Mugabe Airport, and border locations (Beit Bridge, Victoria Falls).
6. Asset Management: Nyaradzo Asset Management provides investment fund management services to broaden customer investment options.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels6 records

Core offering

Nyaradzo Group is a diversified financial services group that fundamentally sells funeral assurance and life cover policies to individuals, families, employers, burial societies, and the Zimbabwean diaspora. Its other lines — short-term insurance brokerage, casket and furniture manufacturing, events management, asset management, bureau de change services, and a funeral grocery allowance card — either feed the core funeral business or extend its customer wallet share into adjacent financial and lifestyle services.

Product overview

Nyaradzo Group is a diversified financial services company operating as a platform of complementary business units. The core offering centers on Nyaradzo Life Assurance Company, which provides life assurance and funeral services through various plans including the Sahwira International Plan (SIP) for diaspora clients, Score Pack Plan, Group Plan, Civil Servants and Uniformed Forces Group Plan, Six Pack Plan, and Conventional Policy. The group operates Eureka Insurance Brokers for short-term insurance needs, Calundike Exports for furniture and casket manufacturing, and Sahwira Events and Lifestyle (SEAL) for events management. Additional services include the Sahwira Connect Card for funeral grocery allowance, Bureau de Change currency exchange services, and Nyaradzo Asset Management for investment products.

Differentiator

Problem solved

Functional benefit

Brands

• Sahwira International Plan (SIP): International funeral cover plan for Zimbabweans in the diaspora, providing repatriation services including air tickets, vehicle hire, and furnished apartments.
• Score Pack Plan
• Group Plan
• Six Pack Plan
• Civil Servants and Uniformed Forces Group Plan
• Householders Insurance
• Homeowners Insurance
• Business Insurance
• Motor Insurance
• Agricultural Insurance

Products and services

• Nyaradzo Life Assurance Core life assurance and funeral cover product for Zimbabwean individuals, families, employers, burial societies, associations, civil servants, and uniformed forces, offered through plans including Score Pack Plan (unlimited dependants), Six Pack Plan (extended family per Zimbabwean tradition), Conventional Policy (immediate family, 25-year maturity), Group Plans (companies, burial societies), and the Civil Servants and Uniformed Forces Group Plan.
• Sahwira International Plan (SIP) International funeral cover plan providing affordable cover for Zimbabweans in the diaspora, their immediate family and dependants, with repatriation services including air tickets, vehicle hire, and furnished apartments on arrival in Zimbabwe, serviced from a dedicated office at Robert Gabriel Mugabe International Airport.
• Eureka Insurance Brokers Short-term insurance brokerage offering personalised packages including householder (loss/damage to household goods), homeowner (buildings, fixtures, theft, fire, lightning, earthquake), business (turnover loss, premises/equipment, work accidents), motor (comprehensive, third party, third party fire and theft), and agricultural (crops, livestock, buildings, equipment) cover.
• Calundike Exports (Casket and Furniture Manufacturing) Manufactures coffins, caskets, and fittings including the largest wood dome casket range in Zimbabwe with over 45 designs; supplies the group's own funeral services and sells furniture externally.
• Sahwira Events and Lifestyle (SEAL) Events management and equipment hire service providing catering, generators, mobile kitchens, mobile restrooms, tents, beds, and houseboat cruises on Lake Kariba for corporate events, weddings, and family gatherings.
• Nyaradzo Asset Management Investment fund management arm of Nyaradzo Group providing managed investment services to broaden customer investment options and horizons.
• Nyaradzo Bureau de Change Licensed bureau de change service operating at multiple Nyaradzo service centre locations, providing foreign exchange services to customers and supporting cross-border diaspora flows.
• Sahwira Connect Card Payment and benefit card providing funeral grocery allowance to policyholders and enabling round-the-clock premium payments via swipe.

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Chicken Inn Football ClubcoreGTM or Marketing Partner · 1 May 2019Nyaradzo Life Assurance partnered Chicken Inn FC providing funeral cover sponsorship under Score Pack Plan. Sponsorship includes a 65-seater bus provision, transport services for all games, and funeral cover for 50 club members including former players. Partnership launched in Bulawayo as part of Simbisa Brands-sponsored team.
• Old MutualminorStrategic or Co-development Partner · 1 January 2019Joint response to Cyclone Idai disaster - together with Old Mutual, Nyaradzo set up two transit camps at Skyline and Ngangu providing shelter for displaced survivors and first responders. Camps had sleeper beds, mega tents, lighting towers, and portable toilets.
• Civil Aviation Authority of ZimbabwecoreStrategic or Co-development Partner · 1 January 2019Granted Nyaradzo office space at Robert Gabriel Mugabe International Airport for SIP (Sahwira International Plan) operations. Enables seamless repatriation service for diaspora clients.
• Harare Athletic Club (HAC)coreGTM or Marketing Partner · 1 January 2016Four-year partnership between Nyaradzo Group and Harare Athletic Club for annual memorial run. Partnership promotes fitness, health, and commemorates club members who have passed away. 2020 marked fourth year of partnership.

Scale indicators5 records

Recent moves12 records

Expansion highlights5 records

Broad incumbents

• Sanlam: Pan-African insurance and investment group headquartered in South Africa with life, funeral, and asset management products. Likely future competitive threat as it expands its Africa footprint into Zimbabwe and diaspora markets.
• First Mutual Life Assurance: Zimbabwean life insurance company offering individual and group life products. Domestic incumbent competitor for Nyaradzo Life Assurance across corporate and individual segments.
• Hollard Insurance: South African-based insurance group with broad life, short-term, and funeral insurance across Africa. Comparable for its multi-line insurance model and Africa-wide expansion strategy relevant to Nyaradzo's regional push.
• Old Mutual Zimbabwe: Zimbabwean arm of pan-African insurer Old Mutual offering life insurance and short-term products. Established incumbent that already partners with Nyaradzo, competing for the same civil servant and corporate group business.
• Liberty Life Zimbabwe: Zimbabwean operation of Liberty Holdings offering life insurance and investment products. Competes for individual and group life assurance customers within Zimbabwe.
• Zimnat Lion Insurance: Zimbabwean insurer offering life, health, motor, and property insurance. Competes with Nyaradzo's Eureka Insurance Brokers short-term product line in the same domestic market.

Direct peers

• AVBOB: Mutual society offering funeral insurance and burial services across South Africa with cooperative structure. Direct competitor in funeral cover and vertically integrated burial services, similar to Nyaradzo Life Assurance.
• Doves Life Assurance: South African funeral insurance and services group with similar vertical integration (manufacturing, funeral services, insurance). Closest analogue to Nyaradzo's combined life assurance and funeral services model, though operating primarily in South Africa.

Regional players

• Kingdom Financial Holdings: Zimbabwean financial services group with life insurance, asset management, and banking operations. Domestic peer competing with Nyaradzo Asset Management and life assurance products.
• Trust Funeral Assurance: Zimbabwean funeral insurance and services provider. Directly comparable peer in the funeral cover market, though smaller scale than Nyaradzo.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/nyaradzo_group
• YouTubeyoutube.com/channel/UCiB9gXTzBPDznN1VK0A0jQg
• Facebookfacebook.com/nyaradzogroup
• Instagraminstagram.com/nyaradzogroup
• LinkedInlinkedin.com/company/nyaradzo-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries7 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 Nyaradzo Group