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Nyaradzo Life Assurance Company introduces diaspora package

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Nyaradzo Life Assurance Company

Nyaradzo Life Assurance Company has launched a pioneer product, the Sahwira International Plan (SIP) that will cater to Zimbabweans living in the Diaspora across the globe.

The SIP will bridge the gap and give those living abroad the opportunity to be present for the burial of their loved ones. And it is available for complete registration online.

Speaking at the launch of SIP Nyaradzo chief executive officer Philip Mataranyika said the new product was especially focused for Zimbabweans living in the Diaspora.

“Today, it is estimated that there is an excess of three million Zimbabweans residing in the Diaspora and they are often not catered for by most Zimbabwean products.

We feel that Diasporans are key clients so we have tailor-made a product that meets their needs particularly when it comes to the repatriation of their loved ones. The SIP is a product dedicated to ‘redefining convenience’.

“The product benefits both Zimbabweans based in the Diaspora as well as their loved ones back home, meaning that you can cover your spouse, children and any other dependants both in the Diaspora and in Zimbabwe,” he said.

SIP allows policyholders to get two return air tickets from wherever they are in the world to Zimbabwe.

“The thinking behind this product is that death comes when least expected and in our culture, it is the norm to be present for a family burial whether immediate or extended.

However, being present can be very difficult without planning and as Nyaradzo Life Assurance Company we want to bridge that gap and give people living abroad the opportunity to be present for the burial of their loved ones,” said the CEO.

Management says the second milestone benefit of SIP is the provision of accommodation in comfortable apartments. The apartments have Wi-Fi and are fully-furnished to an upmarket standard.

This consideration for accommodation is also a solution for customers who live abroad and have properties in Zimbabwe but are renting them out.

The third innovative benefit is the provision of a double cab vehicle. Customers will be able to use the vehicle for the duration of their stay which is capped at 7 days.

In terms of the SIP, the policy covers the principal member, spouse and children under the age of 23 resident in foreign countries who wish to be repatriated to Zimbabwe.

It provides cover to other dependants and children above the age of 23 at an additional premium. One has an option to cover their relative/s of their choice who reside in Zimbabwe.

In terms of benefits within the country of residence, the SIP provides a coffin with a hermetic seal suitable for international transportation. It also provides removal from place of death to mortuary; international embalming and body preparation; repatriation to Zimbabwe and grocery allowance.

And in Zimbabwe the policy provides chapel services where chapel is available; hearse to place of burial within Zimbabwe; provision of a casket commensurate with the chosen plan; bus transport (depending on the plan type) for mourners from place of mourning to place of burial in Zimbabwe using the shortest possible route, subject to accessibility of the roads; graveside equipment; provision of a 200 seater tent; chairs and two portable toilets at one chosen location for two nights.

Nyaradzo Life Assurance Company is a member of an insurance and events management group which offers diverse products and services solutions through listening to and understanding the needs of its stakeholders.
The Herald

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BUSINESS

Government to revoke licences of non-compliant foreign firms in reserved sectors

Cabinet says foreign-owned businesses in 17 sectors reserved for Zimbabweans face licence suspension or revocation after inspections of more than 3,000 companies.

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Foreign-owned businesses operating in sectors reserved for Zimbabweans face having their licences suspended or revoked, the government said after Tuesday’s Cabinet meeting, as it moves from awareness campaigns to enforcement.

According to both The Herald and NewZimbabwe.com, inspections covered more than 3,000 companies across all 10 provinces. Cabinet was told that most foreign operators had not regularised their status despite campaigns and formal non-compliance notices. The Ministry of Industry and Commerce, the briefing said, will suspend or revoke the operating licences of non-compliant businesses in reserved sectors.

The rules come from Statutory Instrument 215 of 2025, gazetted in December 2025, which reserves 17 sectors for Zimbabwean citizens. Thirteen are reserved exclusively for locals, including borehole drilling, clearing and customs, tobacco grading, estate agencies and artisanal mining. In four others, retail and wholesale, haulage and logistics, grain milling, and shipping and forwarding, foreign firms may take part only through exemptions or regularisation plans. Retail and brick moulding were cited as areas where foreign players still have a large presence.

Both outlets reported the same compliance figures: 693 formal applications received; 269 foreign operators applying to regularise by transferring 75 percent of equity to Zimbabwean citizens; 144 entities seeking confirmation of their local status; and 63 entities qualifying for statutory exemption by meeting investment thresholds or being recognised international brands. The reports do not explain how these categories relate to the 693 total.

The reports differ on who spoke at the briefing. NewZimbabwe names Information Minister Soda Zhemu, while The Herald names Acting Information Minister Prof Paul Mavima and credits Industry and Commerce Minister Mangaliso Ndlovu with the compliance update. Neither says how many licences have so far been withdrawn, what penalties will apply, or when enforcement begins.

Sources: The Herald (via Zimbabwe Situation); NewZimbabwe.com.

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BUSINESS

ZINARA clears US$206 million DBSA loan for highway rebuild

The Zimbabwe National Road Administration says it has fully repaid the 2011 Development Bank of Southern Africa loan used to rebuild the Plumtree–Bulawayo–Harare–Mutare highway.

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The Zimbabwe National Road Administration (ZINARA) says it has fully repaid a US$206 million loan from the Development Bank of Southern Africa (DBSA), closing a debt that has weighed on the roads authority for years.

Board chairperson George Manyaya announced the repayment at ZINARA’s 10th annual general meeting in Harare. According to both The Herald and NewZimbabwe.com, the final payment was made on 30 September. “We no longer owe DBSA; we finished paying,” NewZimbabwe quoted him as saying.

The loan was secured in 2011 to fund the rehabilitation and upgrading of the Plumtree–Bulawayo–Harare–Mutare highway, one of the country’s main trade corridors. The two outlets give slightly different lengths for the road, so this report does not quote a figure.

The debt had repeatedly drawn scrutiny from Parliament. NewZimbabwe reported that Manyaya said the Public Accounts Committee had questioned ZINARA several times over the unpaid loan, and that clearing it was a priority for the current board because it stood in the way of raising further funding. The Herald reported that the repayment was presented as evidence that Zimbabwe honours its sovereign obligations and should help rebuild its credibility with lenders and unlock funding for infrastructure.

ZINARA collects road-user revenue, including licence and toll fees, and channels it to the maintenance and rebuilding of roads. With the DBSA obligation settled, the agency is expected to have more room to finance road works and to approach financiers, although neither report sets out specific new funding arrangements agreed on the strength of the repayment.

For motorists and transporters, the practical test will be whether the money once used to service the debt now translates into visible repairs on the country’s busiest routes.

Sources: The Herald (via Zimbabwe Situation); NewZimbabwe.com.

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BUSINESS

Diaspora Remittances to Zimbabwe Up More Than a Fifth This Year

Money sent home by Zimbabweans abroad is running well ahead of last year, according to figures reported by the Herald and Equity Axis.

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Money sent home by Zimbabweans living abroad is running well ahead of last year, according to two separate reports on this year’s inflows.

The Herald, citing Reserve Bank of Zimbabwe data, reported on 16 October that remittances totalled about US$1.859 billion between January and August 2026. That compares with US$1.520 billion in the same eight months of 2025, a rise of 22 percent, or roughly US$339 million.

The financial outlet Equity Axis, writing on 27 August, put remittances at US$1.62 billion for January to July, up 24 percent year on year. The two reports cover different periods, so the totals differ, but they are consistent with each other and point the same way: inflows from the diaspora are growing by more than a fifth.

Equity Axis presented remittances as one of the main supports for Zimbabwe’s foreign currency position, alongside exports of gold, platinum and tobacco. It said the Reserve Bank had identified stronger export earnings and diaspora inflows as drivers of an improved current account. It did not name the source of its remittance figure.

Both outlets also raised the question of what the money does once it arrives. Equity Axis argued for a target to channel a share of remittances into investment, a view it presented as its own rather than an official position.

For families, remittances remain a major source of household income. For the government, the flows are an increasingly important source of foreign currency at a time when reserves are thin.

Sources: The Herald (via Zimbabwe Situation), citing Reserve Bank of Zimbabwe data; Equity Axis.

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