Marshall Ndlela
A builder, not a theorist, has taken the investment seat, and for millions of Zimbabweans at home and in the diaspora, the recent appointment of Dr Kudakwashe Tagwirei as Minister of Economic Development and Investment Promotion is more than a Cabinet reshuffle.
It is a signal that the country’s investment drive will be led by someone who has built businesses on Zimbabwean soil.
President Mnangagwa split the former Ministry of Finance, Economic Development and Investment Promotion into two. Professor Mthuli Ncube remains Minister of Finance, while Dr Tagwirei heads the new growth-focused portfolio.
In diaspora communities from Johannesburg to London, the question has always been the same: is it safe and worthwhile to invest at home? A minister who has faced the same hurdles as any local entrepreneur may be better placed than most to answer it.
From a home office to a diversified group
Dr Tagwirei’s story begins far from the boardroom. Born in Shurugwi in 1969, he trained as a geologist and worked in mining before turning to business.
He has said he started Sakunda in 2003 with his wife Sandra, operating from a bedroom in Belvedere and selling just 15 000 litres of fuel. At one point he sold the only house he owned to keep the business alive. The company name itself combines Sandra and Kuda.
In 2013, he formed Trafigura Zimbabwe, a joint venture with Swiss commodities trader Trafigura, with Sakunda holding 51 percent. However, in 2019, Trafigura bought out Sakunda’s stake in the joint venture.
Also, the firm financed inputs under the Government’s Command Agriculture programme from 2016. And in 2021 it committed about US$5,3 million to sponsor Dynamos and Highlanders football clubs. It also funded houses for football legends Moses Chunga and Madinda Ndlovu, and for the family of the late George Shaya.
Dr Tagwirei’s interests have since spread across fuel logistics, gold, nickel and platinum mining, infrastructure construction and banking. That breadth gives him first-hand knowledge of the sectors the new ministry must grow.
Beyond business, he is described as a philanthropist who has given to health, education and sport, and he is an elder in the Seventh-day Adventist Church. His frequent talks on “faith-driven leadership” have made him something of an investment activist, urging Zimbabweans to build at home rather than wait for outsiders.
A global trend: business leaders in government
Bringing proven business leaders into government is not unique to Zimbabwe. The best-known recent example is the United States, where President Donald Trump in 2025 asked Elon Musk, the founder of Tesla and SpaceX, to lead the Department of Government Efficiency. Musk was not a Cabinet secretary, but the logic was similar: use an entrepreneur’s urgency and cost-consciousness to shake up the state.
Howard Lutnick, the chief executive of Cantor Fitzgerald, also from the US, has been the secretary of commerce since 2025. This demonstrates that Trade and investment portfolios often go to dealmakers.
Other examples are Robert Rubin and Henry Paulson, senior leaders at Goldman Sachs, who were US Treasury secretaries in the 1990s and 2000s, proving that market experience helps in managing confidence.
Michael Bloomberg, the founder of Bloomberg L.P., was the Mayor of New York from 2002 to 2013, using his data-driven management skills to transform public services.
Closer home, in South Africa, President Cyril Ramaphosa comes from a business spectrum across mining, food and finance, proving that investor networks can be used to rally investment pledges.
The lesson is consistent. When a government wants growth, it often turns to people who have created jobs, raised capital and met payrolls. The track record is mixed, which is why the best results come when business talent is paired with strong institutions and oversight.
Why practical technocrats suit growth ministries
A finance ministry needs caution and analytical rigour, the strengths of economists and academics. On the other hand, an investment ministry needs something different: the ability to find, structure and close deals. That is why practitioners often outperform pure theorists or career politicians in this role.
First, they speak the investor’s language. Investors ask about returns, risk, approvals and timelines. A minister who has negotiated joint ventures can answer those questions directly and credibly.
Second, they know where the bottlenecks are. Someone who has waited for licences, power connections and foreign-currency allocations knows which reforms matter most. Policy then targets real problems, not theoretical ones.
Third, they are judged by results. Business leaders are used to measurable targets. That culture can bring scorecards on investment landed, projects commissioned and jobs created.
Fourth, they bring networks. Economists call trusted relationships “social capital” because they reduce the cost of finding partners and enforcing agreements. A well-connected minister can turn introductions into transactions.
Fifth, they move faster. Growth opportunities have deadlines. A dealmaker’s sense of urgency can cut through bureaucratic delay.
This does not mean academics have no place. The strongest model is a team: a rigorous Treasury led by an economist, working alongside a growth ministry led by a practitioner. Zimbabwe now has exactly that pairing in Professor Ncube and Dr Tagwirei.
What the appointment means for the diaspora
Zimbabweans abroad send home an estimated US$2 billion a year, most of it spent on household needs. The diaspora’s hope is that a businessman-minister will build the bridges that turn part of that money into lasting investment.
The practical questions from the diaspora are clear:
A diaspora investment window at ZIDA with online registration, clear timelines and a single point of contact.
Bankable products such as diaspora bonds, housing schemes and pooled investment funds with transparent reporting.
Security of returns, including property rights, contract enforcement and the ability to repatriate profits.
Partnership opportunities in agriculture, mining services, energy, tourism and technology, where small investors can join larger projects.
Recognition of skills, so that returning professionals and entrepreneurs are welcomed as partners in development.
The inspirational value matters too. A minister whose own business began in a bedroom office sends a powerful message to a nurse in Leeds or an engineer in Johannesburg, which is, start small, build patiently and build at home.
A businessman who thrived under sanctions
The diaspora knows better than most what sanctions have cost Zimbabwe: blocked transfers, costly remittance channels and investors who stay away. Dr Tagwirei has lived that reality personally.
Since 2020 he, his family and his companies have been targeted by United States and United Kingdom sanctions. The Zimbabwean government describes these measures as illegal, and the Southern African Development Community has repeatedly called for them to be lifted. His supporters argue that the measures were aimed less at the man than at the country’s economic independence.
Rather than collapse, his businesses adapted and grew through the following:
Diversification: His group spread across fuel, gold, nickel and platinum mining, construction and banking, so no single blocked channel could stop it.
New partners: He built relationships with regional, Middle Eastern and Asian partners, the markets that now provide much of Zimbabwe’s investment.
Local reinvestment: Profits were reinvested at home, including the acquisition of a national network of service stations and stakes in local mines.
Continued giving: Even under pressure, he funded sport and community causes, including the 2021 sponsorship of Dynamos and Highlanders.
For diaspora investors, this record is reassuring. A minister who has kept capital moving despite financial isolation understands how to design channels, products and partnerships that work for Zimbabweans abroad.
A test of results
Dr Tagwirei’s appointment brings a practitioner’s energy to one of the country’s most important growth portfolios. For the diaspora, it offers a minister who understands the risks and rewards of building a business in Zimbabwe.
Like business leaders in government elsewhere, he will ultimately be judged on results, not reputation. These include investment landed, projects completed, jobs created and diaspora capital mobilised. If he delivers on these with transparency, the hope felt in diaspora communities today could become the investment boom that Vision 2030 needs.
