Masawara
- Company typePrivate
- Founded1960
- HeadquartersHarare, Zimbabwe
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Masawara does
Masawara is an Africa-focused, privately-held investment holding company headquartered in Harare, Zimbabwe, operating 15 investee companies across 10 African countries and employing more than 2,200 people across its portfolio. Originally established as TA Holdings Limited and rebranded to Masawara Plc in 2018 under founder Shingai Mutasa, the group runs an operator-investor model, actively managing portfolio company operations and capital allocation across diversified clusters. Its core operating subsidiaries include Zimnat Group (insurance, asset management, microfinance, holding an A- global credit rating), Cresta Hotels (hospitality across Botswana, South Africa, and Zimbabwe), Dandemutande (the largest VSAT and corporate internet provider in Zimbabwe, serving 44+ African countries), Sable Chemical Industries (Zimbabwe's sole producer of nitrogenous fertilizer since 1966), Minerva Risk Advisors (health benefits and healthcare financing), New World Property Managers and Joina City (commercial and retail property), and Masawara Energy Solutions (solar and off-grid energy).
The group's revenue mechanics are diversified across multiple streams: insurance premiums and investment income at Zimnat, recurring VSAT and managed IT services fees at Dandemutande, hotel management fees and room revenue at Cresta, fertilizer and chemical product sales at Sable, and healthcare financing at Minerva. Customer segments span individual insurance buyers, corporate ICT clients, business and leisure travellers, agricultural buyers, and property tenants, with distribution executed through direct sales teams, branch networks (including a MultiChoice Zimbabwe partnership for decoder insurance), corporate partnerships (Sanlam, Sophos Gold Partner status), and digital channels including a WhatsApp-based motor insurance renewal platform. Pricing examples include Zimnat decoder insurance at USD 1.00-1.50 monthly premium and a Homecoming Plan funeral product priced at R150 per month for a family of six. Masawara generates returns through active operational involvement and value realization across portfolio companies rather than passive capital allocation.
Masawara firmographics
Firmographics- Name
- Masawara
- Legal name
- Masawara Group Holding
- Website
- https://masawara.com
- Company type
- Private
- Founded year
- 1960
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Masawara industry classification
Industry- Product category
- Diversified Investment Holding Company
- NAICS
- Management of Companies and Enterprises (55111), All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Investors, Nec (6799), Investment Advice (6282), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM)
- akta.pro secondary industries
- Investment Management Advisory (RIA) (FSAEAAAB), Values-Based/ESG & Impact-Focused RIAs (FSAAACAK)
Keywords
Where Masawara is headquartered
LocationHeadquarters
- HQ city
- Harare
- HQ country
- Zimbabwe
- HQ region
- Africa
Offices1 record
Markets served
Masawara business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain
Revenue model
- Investment Returns: Masawara generates returns through its operator-investor model, actively involved in operations and strategic direction of investee companies to drive growth and value realisation.
- Insurance Premiums: Zimnat group generates revenue through insurance premiums for life assurance, general insurance, funeral cover, motor insurance, home insurance, travel insurance, health and accident insurance.
- ICT Services: Dandemutande provides VSAT connectivity, cloud services, ICT hardware/software, managed IT services, and unified communications solutions generating recurring connectivity fees.
- Hospitality Management: Cresta Hotels generates revenue through hotel management fees and operations across Southern Africa.
- Agro-chemical Manufacturing: Sable Chemical Industries manufactures and sells ammonium nitrate fertiliser, specialty fertilisers for horticulture, sanitizers, and hand soaps.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Decoder Insurance - Explora |
| Subscription | Monthly | Decoder Insurance - HD PVR 2 Tuner |
| Subscription | Monthly | Decoder Insurance - Single view decoder |
| Subscription | Monthly | Homecoming Plan (Funeral Insurance) |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Masawara product offering
Product offeringCore offering
Masawara is an Africa-focused investment holding company that creates stakeholder value through a diversified portfolio of 15 investee companies managed under an operator-investor ethos. The group operates across financial services (insurance, asset management, microfinance), hospitality, agrochemicals, technology (VSAT, ICT, cybersecurity), property, health, and energy sectors across 10 African countries.
Product overview
Masawara is an African investment holding company with a diversified portfolio of portfolio companies managed through an operator-investor ethos. The group operates across multiple clusters: Technology (Dandemutande - ICT/connectivity solutions including VSAT, cloud, cybersecurity, video analytics, and managed IT services), Financial Services (Zimnat - general insurance, life assurance, asset management, microfinance with products like decoder insurance, WhatsApp motor renewal, Homecoming Plan funeral cover), Hospitality (Cresta Hotels and Shumba Car Hire), Agro-chemicals (Sable Chemical Industries - fertilisers), Health (Minerva - health benefits and risk management), Property (New World Property Managers), and Energy (solar parks and off-grid solutions). The products are distinct business units under unified investment management rather than a unified software platform.
Differentiator
Problem solved
Functional benefit
Brands
- Zimnat: Diversified financial group comprising life assurance, general insurance, asset management and microfinance services.
- Cresta Hotels
- Sable Chemical Industries
- Dandemutande
- Minerva Risk Advisors
- Shumba Car Hire
- Zimnat Homecoming Plan
- Cresta Marakanelo
- New World Property Managers (NWPM)
Products and services
- Dandemutande (ICT Solutions) The largest VSAT service provider and internet connectivity provider to corporates in Zimbabwe, offering converged ICT solutions to enterprise and SME customers across Africa.
- Dandemutande VSAT Services Satellite internet connectivity services across Africa on KA, KU, and C Band, offering dedicated and shared bandwidth for corporates and SMEs with speeds up to 35Mbps.
- Zimnat Group (Insurance) Comprehensive insurance and financial services provider offering life assurance, general insurance, asset management, and microfinance, serving individual and corporate customers in Zimbabwe.
- Zimnat Decoder Insurance Insurance cover for DStv decoders sold through MultiChoice branches nationwide covering theft and damage.
- Zimnat Homecoming Plan Affordable funeral cover for Zimbabweans living in South Africa, providing lump sum for repatriation of bodies and funeral expenses, covering COVID-19 related deaths.
- FSG Zimbabwe
- Cresta Hotels Hotel management group operating business and resort hotels in Botswana, South Africa, and Zimbabwe, offering modern facilities for leisure and business travellers with conferencing options.
- Shumba Car Hire Car hire and vehicle towing services offered as part of the Masawara hospitality cluster.
- Minerva Health Benefits Consulting Health risk management and human capital solutions providing institutional health management, diagnostic services, and integrated outpatient curative care.
- Sable Chemical Industries Manufacturer of nitrogenous fertiliser, specialty fertilisers for horticulture, sanitizers, and hand soaps; the sole producer of nitrogenous fertiliser in Zimbabwe.
- New World Property Managers (NWPM) Commercial and residential property development, management, valuation, and security services including Joina City shopping centre.
- Masawara Energy Solutions Innovative energy solutions including solar parks, off-grid energy solutions, and exploration of wind, solar, natural gas, and hydro-energy in African markets.
Quantifiable outcome
- Serving customers across 10 African countries
- +3 more outcomes
Companies that use Masawara
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Masawara technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
Masawara partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Real BetiscoreMinerva Risk Advisors became a global partner of Real Betis football club. This partnership amplifies the Minerva brand onto the world stage as they increase operations outside Zimbabwe.
- Skynet Pvt t/a MultiChoice ZimbabwecoreZimnat General Insurance partnered with MultiChoice Zimbabwe to launch decoder insurance cover product covering decoders against theft or damage from electrical or mechanical faults.
- SanlamcoreSanlam is the largest non-banking financial services group on the continent. Zimnat is associated with Sanlam and they jointly conduct CSR initiatives including donations to Cyclone Idai victims. Sanlam partnership provides Zimnat with regional backing and credibility.
- CareNet AfricaminorWellness Champions across all Group Companies attended workplace training facilitated through CareNet Africa for COVID-19 awareness and preventative measures implementation.
- SophoscoreDandemutande holds Sophos Gold Partner status enabling them to offer customised cybersecurity solutions and cyber defence to protect organisations from cyber-attacks.
- Nomads Golf ClubminorDandemutande is official gold sponsor of National Nomads Golf Tournament and official connectivity partner of Nomads Mashonaland Chapter.
- AB CommunicationsminorDandemutande was an official sponsor of Fintech Talk hosted by AB Communications, centred on leading the African discussion on Industry 4.0.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Masawara competitors and assessment
Company assessmentOthers
- Sanlam: Largest non-banking financial services group on the African continent and an active strategic partner of Zimnat; comparable African insurance and investment footprint, though at vastly greater scale.
- Ethos Capital: Pan-African private equity firm investing across the African continent with operator involvement comparable to Masawara's investment model, though structured as a fund manager rather than a permanent holding company.
Broad incumbents
- Remgro: Large South African diversified holding company with long-dated positions in financial services, healthcare, consumer products, and infrastructure; broader and more institutional than Masawara but operating a similar diversified holding model in Africa.
- Old Mutual Limited: Pan-African life assurance, asset management, and banking group with comparable life assurance, short-term insurance, and microfinance activities to Zimnat; broader and publicly listed.
Direct peers
- Cresta Group of Hotels (historical reference): Masawara's own hospitality subsidiary, but as an industry peer it represents the Southern African mid-market hotel management segment that Masawara competes in; relevant for benchmarking hospitality execution.
- PSG Group: South African diversified holding company with controlling stakes in financial services, education, and specialist businesses; comparable to Masawara's multi-cluster African operator-investor approach.
- Brait SA: Investment holding company with controlling stakes in consumer-facing African businesses, formerly listed on the JSE; comparable to Masawara's portfolio operator model and African footprint.
- Hosken Consolidated Investments: South African diversified holding company operating an operator-investor model across gaming, hotels, media, and financial services; comparable to Masawara's hands-on, multi-sector African holding structure.
Market position
Strengths1 record
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Masawara social profiles
Digital presenceMasawara financial estimates
Financial estimateRevenue estimate
Valuation estimate
Masawara leadership team
Management profileNumber of profiles
Profiles10 records
Masawara subsidiaries and ownership
Company hierarchySubsidiaries13 records
Masawara funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Masawara M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Masawara
What does Masawara do?
Masawara is an Africa-focused investment holding company that creates stakeholder value through a diversified portfolio of 15 investee companies managed under an operator-investor ethos. The group operates across financial services (insurance, asset management, microfinance), hospitality, agrochemicals, technology (VSAT, ICT, cybersecurity), property, health, and energy sectors across 10 African countries.
Is Masawara a public or private company?
Masawara is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Masawara founded?
Masawara was founded in 1960. It employs 11 to 50 people.
Where is Masawara based?
Masawara is headquartered in Harare, Zimbabwe, in the Africa region.
How does Masawara make money?
Five revenue lines are on record. Investment Returns are the primary driver. The others are insurance Premiums, ICT Services, hospitality Management and agro-chemical Manufacturing.
Who are Masawara's main competitors?
Others on record are Sanlam and Ethos Capital. Broad incumbents are Remgro and Old Mutual Limited. Direct peers are Cresta Group of Hotels (historical reference), PSG Group, Brait SA and Hosken Consolidated Investments.
Does Masawara have an API?
No public API is recorded for Masawara.
What industry is Masawara in?
Masawara's product category is Diversified Investment Holding Company. Its primary akta.pro industry code is BPAGABAM, Microfinance, Financial Inclusion & Inclusive Markets, with a secondary code of FSAEAAAB, Investment Management Advisory (RIA). Its NAICS code is 55111 and its SIC code is 6799.