Top investment banker Munatsi dies

by | Nov 30, 2021 | Business, Local News | 0 comments

Nevanji Chiondegwa

Banker, business executive and Zimbabwe Investment Development Agency Chief Executive Officer, Douglas Munatsi has died.

He was 51.

Munatsi died in a fire at his Northfields Flats apartment in the early hours of today.

In a statement, the Northfield Owners Association Chairperson identified as C Gardiner said the fire broke out just before 3am in the morning.

“The Association wishes to advise stakeholders that at approximately 02:50 AM, on Monday 29 November, a fire was detected by the occupant of flat C9 in Northfields.

There was no electricity at the time due to a cable fault. The occupant of C10 in C10 heard commotion and noise, and went to his balcony to investigate further. There, he heard from the occupant of C9 that there was a fire and he asked to call the fire brigade,” the statement read.

The fire brigade is said to have arrived 20 minutes later and fought the fire for two hours but were unable to save Mr Munatsi who was the occupant of Flat C9.

The cause of fire is yet to be ascertained.

Mr Munatsi was born on March 4, 1970 and was a holder of a Bachelor’s of Business Studies from the University of Zimbabwe, did his Masters in America and was a holder of a Harvard Business School Advanced Management Program.

He had a wealth of experience in the business management having served as Group Chief Executive Officer of ABC Holdings Limited from 2000 to 2014 December when it was sold to Atlas Mara.

Before joining BancABC, he had also served as the Managing Director of its predecessors First Merchant Bank and Heritage Investment Bank which he founded. He also served as an executive of the International Finance Corporation.

He also served as a Non-Executive Director of Union Bank of Nigeria Plc from July 12, 2013 to February 24, 2015.

At the time of his death he was Chief Executive Officer of ZIDA, the country`s one stop investment shop.