ZIMRE chief executive officer Albert Nduna was hounoured with an Achievement Award by the African Insurance Organisation (AIO), at a ceremony commemorating the 40th anniversary celebrations of the organisation in Balaclava, Mauritius, held from September 30 to October 3.
Nduna was recognised as the Individual who made the most contribution to the development of the organisation and insurance sector in Africa over the past 40 years.
AIO is a non-governmental organisation, recognised by many African governments, whose main objectives are the promotion of inter-African co-operation and development of a healthy insurance and re-insurance industry in Africa.
Nduna was recognised alongside African Reinsurance Corporation, which won the Category 1 award for Insurance Organisations, whilst UNCTAD was the winner in Category 2 for International Organisations.
Nduna was recognised for providing leadership that saw the creation of Zimbabwe’s First Reinsurance Company (Zimre), which has gone on to become a leading re-assurer not only in Zimbabwe, but in the region.
According to the citation, Nduna led Zimre to completely transform the country’s financial services landscape by setting up subsidiaries in Insurance, Insurance broking and re-insurance broking among others.
Nduna was honoured ahead of other luminaries in insurance. The runner-up award was won by Ezzart Abdel Barry of Egypt whilst third place went to Professor Joe Irukwu of Nigeria.
For coming first, Nduna won Africa’s sole ticket and automatic qualification to be nominated in the US-based Insurance Hall of Fame in the USA for 2013.
About ZimRe Holdings
ZIMRE Holdings Limited (ZHL) is the investment and coordinating company holding a number of synergistically linked subsidiary companies operating in Zimbabwe and within Africa, with insurance as the group’s core business.
ZHL is responsible for the overall strategic guidance, direction and support for the group as well as coordinating the resource requirements of the group operations.
To be a Pan-African and globally recognised provider of world-class integrated financial services.
To efficiently and effectively provide world class integrated financial services first and foremost in Africa.
We always meet customer needs and expectations.
We conduct our business in a professional, ethical and honest manner.
We maintain good business relationships with all stakeholder groups.
We maximise shareholders’ return on investment within acceptable risks.
We attract, develop and empower our employees and build enthusiastic and dedicated work teams.
We are a responsible corporate citizen.
Our business philosophy
Creating value for our shareholders.
Maintain controlling stakes in subsidiary companies within the framework of the law.
Encourage local participation in ownership of foreign firms where practicable.
Employees are the key drivers of business value.
What drives ZimRe Holdings Ltd
Huge capital base to support operations
Strong skills base (insurance, finance, ICT)
Advanced technology base and systems
Sound corporate strategy
Strong brand locally and regionally
Research oriented organisation
Zimre Holdings’ chief executive soars higher
AN outstanding leader who has what it takes to scale greater heights, Albert Nduna is Zimre Holdings Ltd (ZHL) group chief executive officer.
Zimre Holdings, formerly Zimre Corporation was formed by an Act of parliament in 1984 with Nduna as managing director designate.
Today, 26 years later, the company has gone through tremendous transformation and is the first reinsurance company to be listed on the Zimbabwe Stock Exchange.
Nduna has travelled extensively and is now a household name on the African continent insurance market and on the international scene.
His visionary and passionate leadership has built the group into a colossus. ZHL has opened offices in Zambia, Malawi, Mozambique, South Africa, Botswana and Uganda.
Nduna’s success is hinged on his sound management and appetite for progressive mentorship.
He has groomed more than 90% of insurance CEOs and executives. ZHL scooped the top performer for the insurance sector award in 2005 and was rated the best listed insurance counter and fourth overall.
Nduna is an active member of a number of regional and international insurance organisations which include Federation of Afro-Asian Insurers and Reinsurers (Fair) and African Insurance Organisation (AIO).
Nduna, recently appointed to the Zep-re board, is an accounting and finance graduate from the University of Lancaster and holds an MBA from Bradford University both in the United Kingdom.
A board member of a number of listed and unlisted companies in Zimbabwe and the African continent, he started his working life as an accountant at Xerox Corporation in London in 1978. He was a visiting lecturer in business finance at the University of Khartoum, Sudan in 1979/80.
He also worked as a corporate planner for Delta Corporation before joining the Ministry of Finance where he rose through the ranks to be deputy secretary for domestic and international finance in 1983.
Nduna is a highly esteemed leader, who was president of AIO for seven consective years up to 1994. He was the president of Fair in 2003 to 2004, for whom he is the current vice-president.
Nduna is heavily involved in charity work. He is the current president of Rotary Club of Harare CBD, and is the past director and chairman of the audit committee of Africa University.
He was Zimbabwe Institute of Management’s Manager of the year in 2000. In 2003, he was awarded the First Achievers’ Award and Manager of the decade by Business Tribune.
In 2009, the Insurance Institute of Zimbabwe honoured him with a Life Time Achievement award for his exceptional and consistent contribution to the insurance industry in Zimbabwe. His appointment to the Zep-re (PTA Reinsurance) is indeed befitting a dedicated insurance practitioner. Zep-re is a leading reinsurance company in Africa headquartered in Nairobi, Kenya.
Zep-re, whose mission is to provide first class security and quality service to its clients, was created by an agreement of Heads of State and Government of the Comesa region in 1990 in Mbabane, Swaziland.
It operates regional offices in Lusaka, Zambia and Douala, Cameroon and has set up a Retakaful Window in Khartom, Sudan. The company is in charge of promoting trade, development and integration within the Comesa region through the exchange and sharing of insurance and reinsurance business.
The Zep-re board is composed of 10 non-executive directors who meet a minimum of three times a year to provide overall strategic direction and review operations. Shareholding is open to all insurance and reinsurance companies. Zimre Holdings is the only Zimbabwean company with shareholding in Zep-re.