How many investments has Mangwana Capital made?

Mangwana Capital has 5 tracked investments.

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

★ Follow + Add to CRM ⤳ Find an introduction

Find your way into Mangwana Capital

59 people in our graph share verified history with the Mangwana Capital team — schools, employers, funds. One of them is your warm intro.

Fred Ursellunlockedknows Nikita Mukorera · together at CFA Institute (overlapped)

knows the team · via MVI Advisors

×10knows the team · via CFA Institute

✨ Fox Verdict

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 Materials Africa ZambiaZimbabwe

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· Harare, Zimbabwein

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· Harare, Zimbabwein

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.

What they invest in

from 1 of 5 portfolio companies

Energy ×1

HQs:Zimbabwe×1

Investments · 5 tracked

founders shown can be your intro path

Invictus Energy Ltdinvictusenergy.com in 𝕏

Invictus Energy is an ASX-listed oil and gas explorer developing the Cabora Bassa Basin in northern Zimbabwe, where it declared gas-condensate discoveries at the Mukuyu Gas Field.

Energy

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Balu FarmBlue AgriCarolina WildernessTwine and Cordage Manufacturing Company

Portfolio news

latest coverage across their companies

Invictus Energy Seeks Quotation for 8 Million New ASX Shares - The Globe and Mail

Invictus Energy Ltd · theglobeandmail.com · Aug 8, 2026

Frequently asked questions

How many investments has Mangwana Capital made?: Mangwana Capital has 5 tracked investments.
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

Similar investors

Giant Ventures Global Llp

Giant Ventures is a venture capital firm investing in technology that transforms civilization's foundational systems across sectors including AI, energy, materials, industry, work, finance, biology and healthcare.

$10M – $20M

Everywhere Ventures

Everywhere Ventures is an early-stage venture firm, backed by a community of founders and operators as LPs, that writes early checks (including pre-seed) into startups across many sectors and geographies.

$250K

Avaana Capital

Avaana Capital is an India-focused deep tech investment firm backing founders using frontier innovation to build globally competitive solutions.

4impact capital

4impact capital is a venture firm that backs tech-for-good entrepreneurs building companies that combine sustainable, social, and environmental impact with strong financial returns.

UntroD Capital

UntroD Capital is a deep-tech-focused investment firm that backs research-and-development-driven startups whose innovative technologies address challenges facing the planet and humanity, an approach it terms 'Real Tech'.

$772K – $241M