Doves Holdings

What Doves Holdings does

Doves Holdings is a privately held Zimbabwean diversified financial services and bereavement management group founded in 1902 by David John Morgan. Operating as a holding structure with four wholly owned subsidiaries — Doves Life Assurance (DLA), Doves Funeral Services (DFS), Doves Financial Services (a non-deposit-taking microfinance unit), and Silkwood Manufacturing (Zimbabwe's largest manufacturer and distributor of value-added wooden products including caskets and furniture) — the company provides funeral assurance, life insurance, funeral services, microfinance loans (SSB, pension, SME, security-based), bureau de change, and international remittances. Doves Life Assurance is licensed by the Insurance and Pensions Commission (IPEC) under license 5000000882 and is a ZAFA member.

The company distributes through 27 physical branches across Zimbabwe (anchored by Harare headquarters at 157 & 159 Harare Street), a dedicated salesforce, a state-of-the-art contact centre, an online self-service portal, and a mobile application available on Google Play Store. The technology stack is integration-led rather than AI-led: real-time premium payments are facilitated through Ecocash and Paynow, international remittances through Western Union and World Remit partnerships, and security-based lending (against ZSE-listed shares) via Chengetedzai with 24-hour processing. The company holds a premium fleet including Rolls Royce and Mercedes Benz Pilato hearses plus newly introduced VVIP Irizar i6S buses.

Doves Holdings generates revenue through recurring subscription premiums (life assurance plans starting from $1/month, Cash Plan, Smart Dove, Prestige, Government Schemes with 20-year terms, Group Life Assurance), one-time fees for funeral services (catalog items priced $100–$1,000), transaction-based fees on microfinance loans and remittances, and margins from furniture manufacturing. The company serves individual consumers, government employees (via payroll deduction SSB stop orders), corporates, SMEs, informal traders, and diaspora Zimbabweans (via the Global Plan UK). Stated vision is to be the unparalleled leader in funeral services in Zimbabwe and the Sub-Saharan region.

Name

Doves Holdings

Legal name

Doves Holdings

Website

https://doves.co.zw

Company type

Private

Founded year

1902

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Doves Holdings is a Zimbabwe-based diversified financial services and bereavement management group (founded 1902) offering funeral assurance, life insurance, funeral services, microfinance, remittances, and furniture manufacturing through 27 branches and digital channels, serving individuals, government employees, corporates, SMEs, and diaspora Zimbabweans.

Ownership category

akta.pro rank

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain, Technology or R&D, Others

Revenue model

1. Life Assurance Premiums: Recurring premium payments from life assurance policies including individual plans, group schemes, government schemes. Premiums payable monthly with no maturity date for group life assurance. Long-term policies with 20-year terms to maturity for government and prestige plans.
2. Funeral Services: One-time fees for funeral services including caskets, hearses, repatriation, tents, chairs, mobile facilities, and event packages. Services catalogued with individual price points ranging from $100 to $1,000.
3. Financial Services - Loans: Short-term loans to civil servants, pensioners, SMEs. SSB loans, pension loans, security-based lending. Interest and fees charged on loan disbursements.
4. International Remittances: Fees for international money transfer services through Western Union and World Remit partnerships. Commission-based revenue from facilitating cross-border payments.
5. Bureau de Change: Foreign exchange services with buying and selling of USD, GBP, and RSA currencies.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels5 records

Core offering

Doves Holdings is a diversified Zimbabwean holding company that provides funeral assurance (life insurance covering funeral expenses), funeral services (caskets, hearses, repatriation, event tents), microfinance loans, bureau de change, international remittances, and furniture/casket manufacturing through four operating subsidiaries: Doves Life Assurance, Doves Funeral Services, Doves Financial Services, and Silkwood Manufacturing. The group operates 27 branches across Zimbabwe, a self-service portal, and a mobile app for policy management, with product plans starting at $1 per month.

Product overview

Doves Holdings operates as a diversified financial services and bereavement management group in Zimbabwe, comprising four main business units: Doves Life Assurance (DLA), Doves Funeral Services (DFS), Silkwood Manufacturing, and Doves Financial Services. The company offers a comprehensive portfolio of funeral assurance products including Cash Plan, Prepaid Funeral Product, Smart Dove Plan, Prestige Plan, Group Life Assurance, Government Schemes, Group Schemes, and Legal Aid. Funeral Services encompass Cash Funeral, Repatriation & Expatriation, and Events management. Doves Financial Services provides microfinance loans (SSB Loans, Pensions Loans, SME Loans, Security Based Lending), Bureau de Change, and International Remittances through Western Union and World Remit partnerships. Silkwood Manufacturing produces caskets, home furniture, and office furniture. The company also serves diaspora customers through the Global Plan (UK) and operates a mobile application and Self Service Portal for digital policy management. With 120+ years of heritage since establishment in 1902, Doves Holdings is the longest-established funeral services brand in Zimbabwe with 27 nationwide branches.

Differentiator

Problem solved

Functional benefit

Brands

• Zororo Phumulani: South African funeral services operation launched in 2012, powered by Doves Zimbabwe

Products and services

• Cash Plan Affordable funeral assurance plan starting from $1 per month with no medical examinations required. Pays out cash within 24 hours upon death of an assured loved one, with flexibility to upgrade to more comprehensive plans. For individual consumers in Zimbabwe.
• Prepaid Funeral Product Funeral plan with no age limit, premiums payable within 12 months. Provides tents and chairs for funeral services and must be fully paid before services are rendered. For individual consumers in Zimbabwe.
• Smart Dove Plan Comprehensive funeral plan covering removal of deceased, mortuary use, hearse transport anywhere in Zimbabwe, chapel use, grave-side equipment, bus option, and grocery allowance. Principal members aged 18-64 eligible. For individual consumers.
• Prestige Plan Executive funeral plan with generous grocery allowance, courtesy vehicles, top-of-the-range hearse, state-of-the-art caskets, documentation assistance, wash and dress services, and chapel use. Term to maturity is 20 years. For individual consumers seeking premium services.
• Group Life Assurance Annually renewable life cover paying 2-3 times annual salary as lump sum upon death of covered member. Includes funeral benefit of up to 3 times monthly salary and spousal cover options. Available to corporates, SMEs, civil servants, and informal traders.
• Government Schemes Government employee funeral scheme with term to maturity of 20 years. Covers removal, casket provision, hearse transport, accidental death benefit, and water bowser. Eligibility: government employees aged 18-64 with dependents up to age 75. Premiums collected via SSB stop order deductions.
• Group Schemes Collective burial scheme for companies, corporates, burial societies, and other groups. Covers removal, mortuary use, documentation, casket provision, chapel use, grave equipment, and transport allowance cash benefit.
• Legal Aid Legal protection plan covering workplace disputes, disciplinary proceedings, personalized legal documents, civil court claims, accident claims, and bail benefit up to USD100. Principal members aged 18-64, dependents covered up to age 75.
• Global Plan UK (Diaspora Plan) International funeral assurance plan for Zimbabweans residing abroad. Covers repatriation from hospital/mortuary, full embalming, washing and dressing, zinc-lined casket, grocery allowance, documentation, and optional life insurance, travel cover, vehicles, catering, and return air tickets. Targets Zimbabweans in the UK.
• Cash Funeral Pay-as-you-go funeral service accepting cash for funerals. Covers removals, mourner transport, caskets, graveside equipment, water bowser, tents and chairs, PA system, courtesy cars, generator and lights, decor and catering, video and photos. For individual customers.
• Repatriation & Expatriation International transport service for deceased loved ones. Covers attendance fees, mortuary fees, removal, undertakers, washing and dressing, embalming, casket, zinc lining, hearse, airport clearance, and complete documentation processing.
• Doves Events Event management services for funerals including tentage, mobile toilets, mobile showers, bowsers, tower lights, sanitizers, gas heaters, flowers, and decoration.
• Short Term Loans Non-deposit taking microfinance loans for civil servants, government pensioners, uniformed forces, SMEs, and private sector. Covers school fees, medical bills, asset acquisition, home building/expansion, and other urgent financial obligations.
• SSB Loans Salary-based loan facility for civil service employees to meet urgent financial obligations arising between pay periods, processed through stop order arrangements.
• Pensions Loans Special loan facility for pensioners to finance short-term needs and lifestyle purchases including furniture, televisions, school fees, fridges, and household items.
• SME Loans Exclusive loan products supporting SMEs across all sectors. Includes free financial literacy and record-keeping training before loan issuance.
• Security Based Lending Stock-secured lending allowing individuals and corporates holding ZSE-listed shares to borrow against them without disposing of shares. Facility processed within 24 hours through Chengetedzai partnership.
• Bureau de Change Foreign exchange services with USD, RSA, and GBP exchange rates for buying and selling currencies.
• International Remittances Cross-border money transfer service connecting Zimbabweans and diaspora through Western Union and World Remit partnerships. Customers can send/receive money at Doves branches with guaranteed cash availability.
• Silkwood Manufacturing (Caskets and Furniture) Largest manufacturer and distributor of value-added wooden products in Zimbabwe, based in Mutare. Products include funeral caskets (Monarch Steel Casket, 3 Tier Casket, Executive Wooden Casket), house fittings, office/school/home furniture, and building and construction timber. Distribution spans southern Africa with European exports.
• VVIP Buses (Funeral and Private Travel) Premium Irizar i6S bus rental service for funeral and exclusive private travel, featuring fully reclining seats, soft leather interiors, air conditioning, charging ports, entertainment systems, and onboard ablution facilities. Targeted at high-profile funerals and exclusive private events.

Quantifiable outcome

• Payout of 2-3 times annual salary for group life assurance
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• Real Betis BalompieflagshipGTM or Marketing Partner · 27 November 2023Doves Holdings signed as regional sponsor of Real Betis Balompie, a Spanish La Liga football club. The partnership is a statement of intent for global market expansion, particularly targeting diaspora markets. Real Betis is strengthening its presence in Africa and Doves is using this partnership to launch products for the global market.
• Athletes Sports ManagementcoreStrategic or Co-development Partner · 1 January 2022Local agency that partnered with Real Betis to set up a football academy in Zimbabwe in 2022. This agency facilitated Real Betis' entry into Zimbabwe before the Doves partnership.
• Western UnioncoreChannel Partner/ Reseller/ DistributorStrategic partnership allowing customers to send money outside Zimbabwe from Harare branches. Doves branches serve as Western Union agent locations for international remittances.
• World RemitcoreChannel Partner/ Reseller/ DistributorPartnership allowing diaspora community to send money to Zimbabwe. Recipients can collect funds at any Doves branch with guaranteed cash availability.
• ChengetedzaicoreTechnology or IntegrationPartnership to facilitate security-based lending where individuals and corporates holding shares listed on ZSE can borrow against their shares. Facility is processed within 24 hours.

Scale indicators7 records

Recent moves13 records

Expansion highlights4 records

Regional players

• Stanbic Bank Zimbabwe: Zimbabwean commercial bank offering personal loans, salary-backed lending, and remittances. Comparable to Doves Financial Services' microfinance and remittance products in the same Zimbabwe market.

Direct peers

• AVBOB Mutual Assurance Society: South Africa's largest funeral services and insurance mutual. Direct competitor to Doves across funeral cover, life assurance, and bereavement services, with a similar branch-based distribution model and growing African footprint.
• Old Mutual Zimbabwe: Major Zimbabwe life insurer and financial services group competing head-to-head with Doves Life Assurance in individual, group, and corporate life and funeral products.
• Liberty Life Zimbabwe: Subsidiary of Liberty Holdings offering life insurance and investment products in Zimbabwe. Competes with Doves Life Assurance in individual and group life segments.
• Pope Funeral Services: Zimbabwean funeral services provider offering funeral cover and burial services. Direct competitor to Doves Funeral Services in the local market across individual and group funeral plans.
• Zimnat Group: Zimbabwean insurance and financial services group offering life assurance, general insurance, and asset management. Directly comparable to Doves' multi-line insurance operations and corporate customer base.
• First Mutual Holdings: Zimbabwe-based life insurance and financial services group operating life assurance, funeral cover, and asset management. Direct competitor in Doves' core Zimbabwe market across life assurance and group schemes.

Broad incumbents

• Sanlam: Large African financial services group offering life insurance, investments, and wealth management. Comparable to Doves' life assurance and wealth-adjacent offerings, with a continental footprint that dwarfs Doves' geographic reach.
• Hollard Insurance: South African insurance group with life, general, and funeral insurance operations across Africa. Comparable to Doves' bundled insurance-plus-funeral model, but at much larger scale and broader geographic scope.
• Old Mutual (South Africa): Pan-African financial services group with life insurance, investments, and banking. Overlaps with Doves across life assurance and group schemes at a far larger scale, including its Zimbabwe subsidiary.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/doves_holdings
• YouTubeyoutube.com/channel/UCzkjKmcudoK36qqMQhbDOFw
• Facebookfacebook.com/DovesLifeAssuranceAndFuneralServices
• LinkedInlinkedin.com/company/doves-zimbabwe

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

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 Doves Holdings