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Managing Director

Ruth is a versatile new generation transformational leader with a distinct track record in implementing winning strategies and delivering value that surpasses stakeholder expectations.

She has more than 25 years leadership experience spanning across various economic sectors notably retail, hospitality, banking and insurance..

Ruth is the Managing Director for First Mutual Life Assurance Company (Private) Limited, the second largest insurance entity in Zimbabwe.

Ruth has achieved remarkable success, driving sustainable business growth in an increasingly competitive and saturated insurance market.

She presided over a threefold growth in revenue and business volumes over a 6-year period in a challenging economic environment. As a distinguished business leader and marketing expert, she initiated and managed various insurance schemes of national significance thereby contributing to the increased participation in the formal financial systems of previously excluded population segments.

Ruth Ncube is a holder of an MBA degree with Nottingham Trent University, UK. She is also a graduate with the Institute of Marketing Management (RSA), leadership certificates, a member of the Chartered Institute of Marketing (UK) and several diplomas in sales and marketing United Kingdom.

She is a First Mutual Properties Limited (a ZSE Listed company) and First Mutual Life Assurance Company board member

Some of her past board member sitting include Zimbabwe International Trade Fair board (ZITF) – Chairperson. retired by rotation. Mosi a Tunya Development Company – Chairman (Ministry of Tourism and Hospitality) retired by rotation. 2014 to 2017. Netone – Board Member (State Enterprise) retired through Board resolution. 2016 to 2018.

Some of her achievements include winning the Lifetime Achievement in Business Leadership Excellence National Award, Businesswoman of the Year National Award in 2019 at the Zimbabwe Business Awards

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



National Sales & Distribution Executive

Nkosikhona Ndlovu has more than 10 years experience in Senior management specializing in brand management, business strategy formulation, customer relationship management, business development, change management and marketing strategy. His experience encompasses the manufacturing and service industries. He completed a three year postgraduate management traineeship with Astra Holdings Limited specializing in business strategy formulation and implementation. He has held several senior management positions including Chief Marketing Officer (Merlin Limited), Branch Manager (ZB Life Insurance Bulawayo) and Managing Director (Dreyton Textiles).

EMBA, Msc Banking and Financial Services(NUST), BBS (Hons) ( UZ), IMM(RSA).



Chief Finance Officer

Peddy joined First Mutual Life Assurance Company (Private) Limited from Pearl Properties (2006) Limited on 1 April 2014. He leads the business financial strategy including financial reporting, financial control and the optimisation of balance sheet structure and financial regulatory compliance. Previously, he was with PriceWaterhouseCoopers Chartered Accountants (PwC) Southern Africa, Johannesburg, South Africa, having been part of the project and infrastructure finance team focusing on the sub Saharan opportunities. At PWC, his mandate included initiating and leading property finance structures aimed at mobilizing tailored funding to finance property refurbishments, developments and expansion activities.

Bachelor of Business Studies (UZ), Bachelor of Accounting Sciences (UNISA), CA (Z)



Employee Benefits Executive

Willie has more than 15 years working experience in various capacities in the financial and pensions sector, at different institutions.  He joined First Mutual Life Assurance Company as the   Consultancy Services Manager responsible for client interface on all pensions and risk related solutions.  Previously, he worked for an insurance company listed on the Zimbabwe Stock Exchange as a Senior Client Relations Manager.

He holds a Masters in Business Administration Degree, an Honours Degree in Statistics with the University of Zimbabwe (UZ) and a Postgraduate Diploma in Financial Planning with the University of Freestate (SA).



Individual Life Business Administration Executive

Madelene joined First Mutual Life in 1994 as a New Business Administrator and rose through the ranks  as Underwriter’s Assistant, Trainee Underwriter, Underwriter, Assistant Manager Underwriting up to an Underwriting Manager.

Her experience in life administration business spans over 25 years. She is the chairperson of the Life Underwriters Association of Zimbabwe, facilitating the enhancement of technical skills for the upcoming Life underwriters in the Industry and promoting communication amongst underwriters and claims assessors in the Industry. She is an examiner of the Insurance Institute of Zimbabwe (IIZ).

Madalene is a Chartered Insurer and qualified as an Associate (AIISA) and a Fellow of the Insurance Institute of South Africa (FIISA).



First Mutual Funeral Services - Head of Operations

Japhet joined First Mutual Funeral Services on 1 October 2017 as Head of Operations, bringing a wealth of experience spanning over 18 years in the funeral assurance and services management industry in Zimbabwe.

He has held other management positions in Life Underwriting and Risk Management and is a member of the Institute of Risk Management of South Africa (IRMSA) and Zimbabwe Institute of Management (ZIM).

Japhet co-pioneered the training of Funeral Industry employees under Zimbabwe Association of Funeral Assurers (ZAFA) holding the position of Trainer. Currently he is a resource and an Examiner of The Institute of Funeral Business Management (IFBM). He holds a Bachelor of Commerce Insurance and Risk Management Honors Degree, Executive Diploma in Business Leadership, Certificate of Proficiency (COP) and Diploma in Personnel Management (IPMZ).