What stage does Mangwana Capital invest at?

Mangwana Capital invests at the Growth stage.

Where is Mangwana Capital located?

Mangwana Capital is headquartered in Harare, ZW.

Does Mangwana Capital lead rounds?

Yes, Mangwana Capital leads investment rounds.

Mangwana Capital

Private equity

Harare · Growth · 8 people tracked

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Investment thesis

Mangwana Capital manages a closed-end fund backed by over 35 Zimbabwean institutional investors, targeting the primary sectors of agriculture, resources, and energy in the SADC region. It acquires significant minority stakes in private companies poised for growth, favoring foreign-currency-generating and import-substitution businesses with access to global markets and competitive advantages. The firm takes a hands-on approach, with principals taking board seats, setting strategy, and overseeing governance. It seeks above-average net returns in US dollar terms with capital protection through legal structuring, aiming to realize investments within the fund's 10-year life via listings, recapitalizations, portfolio sales, or trade sales. ESG principles and regenerative farming guide its practices.

Invests inAdvanced Manufacturing AgTech Consumer Energy Fintech Impact & Social Good New MaterialsAfricaZambiaZimbabwe

Source: firm website, verified Aug 3, 2026.

Stage

Growth

Harare, ZW

Leads rounds

Leads

Instruments

Equity

Tracked investments

Team · 8 people

from the firm's website

Benedict Mbanga· Co-Founder and Managing Director

Managing Director of Mangwana since inception, previously spent 21 years at Deloitte Africa where he served as Regional CEO/Managing Partner of Deloitte Central Africa. Experienced in corporate finance and consulting.

Steven Mupfurutsa· Executive Director

Corporate finance executive responsible for building investment cases, deal structuring, due diligence, and valuations, with over 20 years of experience in finance, investment analysis, and auditing.

Kevin Terry· Board Chairman

Former Managing Director of CABS and former Group COO of Old Mutual Group, with extensive banking and financial sector experience across Zimbabwe and East Africa. Currently a Non-Executive Director at First Capital Bank Zimbabwe.

Nikita Mukorera· Senior Associate

Investments analyst at Mangwana with experience in financial markets, investment analysis, corporate finance transactions, financial modelling, due diligence, and valuations. CFA Level II candidate.

Noel Zvareva· Non-Executive Director

Chartered Insurance Professional and Chartered Pension Analyst with 22 years of experience in employee benefits, life assurance, and business development. Currently Head of Pensions at Minerva Aon Zimbabwe.

Thomas Mutswiti· Investment Committee Member

Investment committee member with 13 years of experience in financial markets, including banking and asset management. Currently General Manager of First Mutual Wealth.

Vongai Pfute· Financial Manager

Finance professional with over 10 years of experience across banking, insurance, and private equity, previously Senior Accountant and Fund Administrator at Takura Capital Partners.

Welcome Mavingire· Chairman (Investment Committee)

CEO and founder of Intellego investment advisors and a CFA charterholder with 17 years of financial services experience in Zimbabwe and Botswana. Represents A Class shareholders on the investment committee.

Investments · 5 tracked

founders shown can be your intro path

Balu Farm

A 4,500 hectare farm near Bulawayo being converted into a 1,000ha pecan plantation, with additional lucerne and beef cattle revenues; holds a 50% stake in Southern Pecans.

Blue Agri

A corporate farming operation headquartered in Harare with six farms across Zambia and Zimbabwe, divided into divisions specializing in bananas, avocado, citrus, stevia and cut flowers.

Carolina Wilderness

A long-established commercial farm in Harare South focused on citrus, blueberry and lucerne production, targeting European and Asian export markets.

Invictus Energy Ltd

An independent oil and gas exploration company focused on the Cabora Bassa Basin in Zimbabwe, home to the Mzarabani gas-condensate prospect.

Twine and Cordage Manufacturing Company

A company formed in 1948 that beneficiates locally grown cotton into twine products for local and regional sale, spinning its own yarn.

Frequently asked questions

What stage does Mangwana Capital invest at?: Mangwana Capital invests at the Growth stage.
What sectors does Mangwana Capital focus on?: Mangwana Capital focuses on Advanced Manufacturing, AgTech, Consumer, Energy, Fintech, Impact & Social Good, New Materials.
Where is Mangwana Capital located?: Mangwana Capital is headquartered in Harare, ZW.
Does Mangwana Capital lead rounds?: Yes, Mangwana Capital leads investment rounds.

Media · Podcasts & interviews

featuring the team

Benedict Mbanga Presents Zimbabwean Investment Advisory and Private Equity Firm Mangwana Capital

Marcopolis Net · Benedict Mbanga

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