admin
MILLIONAIRE property investor Frank Buyanga is in talks to buy Cell Funeral Assurance Company (Cell Funeral). When completed, the acquisition will see Buyanga, 34, expand his business portfolio from property, insurance and micro-financing to funeral services.
The Hamilton Property boss and his representatives have been hammering out a deal at the company’s headquarters over the last week, and officials say an agreement could be imminent.
Cell Funeral general manager Paidemoyo Madziwa-Mahundi said: “We would like to advise that Cell Funeral will be issuing a statement in relation to this matter in due course.”
Industry watchers say Buyanga, who has investment footprint straddles several countries including the United Kingdom, South Africa, Zambia and Zimbabwe is keen to grow his Hamilton Insurance business with the latest acquisition.
The maverick entrepreneur, famed for his lavish lifestyle and top-of-the-range cars, is aiming to eat into the funeral services market currently dominated by Doves and Phillip Mataranyika’s Nyaradzo Group.
Cell Funeral has branches in Harare and Zvishavane, but can bank on Buyanga’s deep pockets for rapid expansion to other towns and cities.
Online Reporter