Online Reporter
Business Reporter
Smartvest Wealth Managers has announced a US$22 million mixed-use property development in Mt Hampden, marking a major milestone in the firm’s expansion strategy while aligning its approach with Zimbabwe’s target of becoming an upper middle-income economy by 2030.
Speaking at the official launch of the company’s new head office along Borrowdale Road last week, chief executive Mr Peter Kadzere revealed that the 190-hectare project, set to begin servicing in the coming weeks, will take place over a 26-month timeline and is located in the environs of the New City.
“This is a mixed-use development, which will deliver 750 to 1 000-square-metre stands, clusters, flats, a school, crèches, a shopping mall, and a solar plant,” said Mr Kadzere.
The flagship infrastructure project comes on the heels of impressive corporate growth following the resolution of the firm’s legacy challenges.
Reflecting on the asset manager’s turnaround trajectory since the collapse of its former parent company, AfrAsia Bank, in February 2015, Mr Kadzere said funds under management (FUM) grew from a low of US$5 million in March 2016 to US$130 million as of July 2026 – a phenomenal 2 500 percent surge over the ten-year period.
Following its rebranding in November 2016, Smartvest has steadily diversified its financial services footprint.
Beyond core fund management, the firm has expanded into microfinance through the rollout of CashQuest Microfinance, alongside subsidiary Afrismart Properties and a newly introduced digital asset unit trust fund in collaboration with offshore partners.
The relocation and expansion of Smartvest have been lauded as a strong vote of public confidence in the national capital markets and the broader macroeconomic recovery trajectory.
Speaking at the same event, Securities and Exchange Commission of Zimbabwe (SECZim) acting chief executive Mr Tichaona Mushambadope highlighted that the firm’s strategic property investment reflects growing market resilience and economic stability.
“The relocation and upgrade of an asset management firm is more than a change of address. It is a public demonstration of confidence in our market and the long-term prosperity of our economy,” he said.
Mr Mushambadope pointed to key macroeconomic indicators, including single-digit inflation metrics, positive stock market returns, and rising funds under management across the sector, as evidence of a stabilising operating environment that enables financial institutions to expand.
“Smartvest is among the top ten in terms of funds under management for SECZ-regulated entities, and between the first and second quarters, we have seen a 13 percent increment. This simply means that something positive is happening in our economy,” Mr Mushambadope added.
Addressing product innovation, Mr Mushambadope urged market players to expand beyond traditional equity instruments and embrace emerging digital asset frameworks, revealing that SECZim is actively modernising its supervisory operations.
“From an innovation perspective, as a regulator, we are implementing digital solutions, and this coming quarter, we anticipate that all your returns are going to be automated,” he said.
Smartvest chairman Dr Leonard Tsumba — represented by board member Mr George Chikava — detailed that the prime property was fully acquired and upgraded through internally generated funds.
“We acquired this property in April 2025 for an amount of US$600 000 and invested about US$300 000 in renovations. On completion of our renovations, the property was revalued by Integrated Properties to a value of US$1,2 million,” Mr Chikava said.
“The Smartvest board and management team are strong believers in organic growth; hence the premises we see here today were fully funded from internally generated resources.”
Outlining the group’s ongoing expansion, Mr Chikava said the institution continues to broaden its financial footprint, following the recent regulatory registration of CashQuest Microfinance company by the Reserve Bank of Zimbabwe.
