HARARE The executive chairman of Masawara Limited, Shingai Mutasa Mutasa is also Non Executive Chairman of TA which is listed on the ZSE and has a market capitalisation of $26 543 999.28.
“We are looking at investing on the stock exchange probably in August this year,” he said on Friday. “We want our shareholders to get value for their money and we see Zimbabwe as a very lucrative investment destination. We are confident on the market and our strong management team”.
Mutasa, arguably one of the wealthiest Zimbabweans right now, has major investments in virtually all firms listed on the ZSE. His interests are in insurance, agriculture, banking, construction and mechanical engineering. He built the Joina City, Harares most prestigious building, at a cost of $23 million during the days of hyperinflation. “I am very happy about Joina City,” he told The Zimbabwean.
“I think it is value for my money and despite the fact that we went through hard times I am happy that the deal is done and tenants are moving into the building today.” He recently acquired BP Shell (Private) Limited, the largest fuel business in the country. “We can use our service stations as base stations when we move into the telecommunications sector,” Mutasa said.
He is soon to compete with Strive Masiyiwa of Econet Wireless Holdings, which has a current market capitalisation of $475 970 135.60 on the ZSE.
Econet recently offloaded its interest in Kingdom Financial Holdings Limited (KFHL) and Afre Limited to concentrate on “core” business. Douglas Mboweni, the companys MD, said this was because “there are problems in those companies and we do not want to get our brand messed up”. Mutasa said he would soon jump into this market at a “competitive” price. “We will be listing soon,” he said. “We want to unlock shareholder value and give our customers value for their money.”
Post published in: News