Board Directors

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Samuel Vengai Rushwaya

Samuel Vengai Rushwaya

Chairman

  • A former Managing Director of Aberfoyle Holdings (Pvt) Ltd.
  • Past Chairman of British American Tobacco Zimbabwe Limited and First Mutual Reinsurance.
  • Past Director of CGU Insurance, Portland Holdings Limited, SFG Insurance and First Mutual Limited.
  • Sits on the Boards of Aberfoyle Holdings (Pvt) Ltd, African Distillers Limited, Kingdom Stockbrokers (Pvt) Ltd and Standard Chartered Bank Zimbabwe Limited.
  • Holder of a Bachelor of Science (Sociology) Honours Degree, London and Advanced Diploma in Training Management.
Ruth Ncube

Ruth Ncube

Managing Director

  • Ruth is the Managing Director for First Mutual Life Assurance Company. Prior to this appointment as Managing Director, she was seconded to First Mutual Life Assurance Company responsible for Marketing and Client Relationship Management in 2009.
  • She joined First Mutual Limited (now First Mutual Holdings Limited) as the Group Corporate Affairs Executive in 2002, responsible for the marketing / communication strategy for the Group Companies.
  • Ruth Ncube holds an MBA degree with Nottingham Trent University, UK. A graduate with the Institute of Marketing Management (RSA), a member of the Chartered Institute of Marketing (UK) and holds several diplomas in sales and marketing United Kingdom. She is the past President of the Marketers Association of Zimbabwe. She has 15 years leadership experience having worked at various managerial capacities in retail, hospitality, banking and insurance industries

A (UK), IMM (RSA), Dip in Management (UK), Dip in Sales & Marketing London.

Mr Douglas Hoto

Mr Douglas Hoto

Executive Director

  • Douglas Hoto is an accomplished business leader and currently holds the reins at First Mutual Holdings Limited as Group Chief Executive Officer.
  • He holds a Bachelor of Science Honours Degree in Mathematics (UZ), is a qualified Actuary with more than 22 years’ experience. He is a Fellow of the Institute and Faculty of Actuaries of the United Kingdom 1999 (FIFA), and is also a Fellow of the Actuarial Society of South Africa (FASSA).  Douglas is currently a consulting actuary for African Actuarial Consultants, a division of First Mutual Holdings Limited.
  • Douglas started his actuarial career with Old Mutual in 1990 and worked in both the Harare and Cape Town offices until 1999, when he joined First Mutual Life. He rose through the ranks to become Managing Director of First Mutual Life in 2003 and Chief Executive of First Mutual Limited in 2004.
  • Douglas was instrumental in setting up First Mutual Reinsurance Company (FMRE Property & Casualty), TristarInsurance Company and African Actuarial Consultants from a Division of First Mutual Life Assurance Society. His career has seen him at the helm of Altfin Holdings, First Mutual Limited and he has held various senior positions at Old Mutual South Africa as well as Old Mutual Zimbabwe.
  • In addition, Douglas is involved in community transformation initiatives focusing on education. He works closely with national development organizations and is the past chairman for Zimbabwe National Statistics Agency (ZIMSTATS). He serves on a number of boards and is a past chairman of Actuarial Society of Zimbabwe.
Mr Israel Paul Zaba Ndlovu

Mr Israel Paul Zaba Ndlovu

Non Executive Director

  • Consultant specializing in public sector finance.
  • Previously Finance Director of subsidiaries of TA holdings
  • Previously City Treasurer of Bulawayo
  • Previously Senior Accountant at National Railways of Zimbabwe
  • Director of POSB, CABS, Ingwebu Breweries, Bulilima Mangwe Business Incubator, Member of Opengates (Pvt) Ltd
Mr William Marere

Mr William Marere

Group Finance Director

  • Prior to this appointment, William was Chief Financial Officer – Corporate Finance at Econet Wireless Zimbabwe where he was responsible for corporate and project finance and investor relations. He has more than 20 years working experience in the field of finance.
  • William served his Articles of Clerkship with Ernst & Young and upon completion he worked for the companies in the financial services, mining and furniture including Stanbic Bank, TN Financial Services and Zimbabwe Alloys Limited where he gained proficiency and expertise in finance and administration, corporate and project finance, advisory services and treasury related products. He has also participated in major corporate finance mandates for leading listed entities.
  • William holds an Honours Bachelor of Accounting Science Degree from the University of South Africa (UNISA) and is a Chartered Accountant (Zimbabwe).
 Mr Amos Raymond Tamuonepi Manzai

Mr Amos Raymond Tamuonepi Manzai

Non Executive Director

  • Amos has senior managerial and executive leadership experience acquired at Deloitte & Touché London and Zimbabwe as senior supervisor.   He has also served at ZESA as Deputy General Manager – Finance.
  • Amos has also held the position of Group Finance Director at TA Holdings Ltd and Executive Director Finance & Administration at Standard Chartered Bank Zimbabwe.
  • He is a Director at Perrenialform Investments Pvt Ltd, Evergid Services Pvt Ltd and Lidle Trading Services (Pvt) Ltd
  • He holds a BA Honours Economics Degree (Dunelim UK)  and is a Chartered Accountant (Zimbabwe)
Mr Gareth Baines

Mr Gareth Baines

Non Executive Director

  • Gareth is the Managing Director of Partner Risk Solutions (Pty) Limited, South Africa. Prior to this position he was the General Manger Business Development for Guardrisk Insurance Company Limited and later moved on to AIG South Africa Limited as Director Risk Finance and General Manager of ABSA Insurance Company respectively.  Before taking a sabbatical leave, Gareth took the appointment of Executive Head – Insurance at Nedbank Group Limited responsible for life, non-life business with responsibilities including product distribution of sales.
  • He has experience in the insurance industry and extensive knowledge of short term and long term insurance including cell captives and complex structured financial transactions.
  • Gareth has sat on several committees including Trustee Chair Audit Sub-Committee of AIG boards, SA, Executive Director AIG South Africa Pension Fund, Intermediaries Guarantee Facility Limited, President Institute of Risk Managers South Africa (IRMSA) and Chairman IRMSA Education & Technical sub-committee.
  • He is a holder of a Bachelor of Business Science (Finance) degree and a Masters in Business Administration degree both from the University of Cape Town.