Women takes over ZAPF leadership

Women takes over ZAPF leadership

Staff Reporter

HARARE, The Pensions and Insurance industry has always been a male dominated space, but things are changing with the new executive posts at the Zimbabwe Association of Pensions Funds (ZAPF), shifting the lenses through which the industry can been viewed.

Rutendo Magorimbo and Cynthia Mugwira are now steering the ship at ZAPF (up to the next AGM in 2021) after being elected chairperson and vice chairperson respectively while on the other hand the association is headed by Sandra Musevenzo(Since 2018)

Magorimbo takes over from Reginald Chihota who served on the board since 2018.

Women in Insurance (WIZ) recently said, with an estimated 55% of employees in the insurance industry being women, there was no better time to partner for the purposes of women empowerment than this moment.

“The ceiling can be smashed, allowing the industry to see more women march to the top. As an association, we aim to create tangible impact and transformation for the whole financial services industry and our country at large.

“We also aim to promote and increase diversity and inclusion by developing insurance as a dynamic industry for women, with a hunger to adapt in this ever-changing environment for the betterment of societies.”

Women contribute immensely to the economy and it is high time the world starts investing in the development of women, setting the right path of gender equality.

“Driven by this, we continue to form strategic partnerships with key stakeholders in the industry and we wish to extend an invite to all organizations to partner us in this great initiative,”

The duo is coming in with vast experience form the industry with Magorimbo having been serving as the vice chairperson since 2018.

The appointments also come a year after the ministry of Finance and Economic Development appointed insurance executive Grace Muradzikwa as Commissioner of the Insurance and Pensions Commission (IPEC).

Taona Munzvandi has of the GMB pension fund has been elected Honorary Treasurer.

Timothy Nherudzo(General Manager Minerva Risk Advisors ) and  Elson Gonye(Public Service Commission) have been reelected into the committee while  Bright Kondo (Principal Officer ZESA Pension Fund) and  Phoebe  Chawasarira (Finance Executive, Construction Industry Pension Fund) are also joining the board.

Rutendo Magorimbo profile

  • Rutendo is the General Manager for Old Mutual Life Assurance Company and has nearly two decades of experience in the financial services industry.
  • Prior to her role as General Manager, Rutendo was the Chief Risk Officer for Old Mutual Africa with risk and compliance oversight over the 13 countries in Africa where Old Mutual has operations. She has also held various roles within the Old Mutual group in Zimbabwe, including Head of Strategy and Reporting and Actuarial executive for the Life business.
  • Rutendo holds a BSc (Honors) degree in Actuarial Mathematics and Statistics from Heriott Watt University, an MBA from the University of Cape Town and is a Fellow of the Institute and Faculty of Actuaries (UK)
  • She currently serves as a council member of the Actuarial Society of Zimbabwe.

Cynthia Mugwira profile   

  • Mugwira is a lawyer by profession and holds a  holds a Bachelor of Commerce (B.Comm/ LLB) from Rhodes University in South Africa (Part fulfilment), Honours degree in Law (LLB (S) HONS) from the University of Zimbabwe, Master of Laws (LLM) degree from the University of Ulster, Northern Ireland in the United Kingdom and a Management of Business Administration (MBA) degree from the Eastern Southern Management Institute of Africa (ESAMI).
  • She  has fifteen years’ experience as a Legal Advisor to the Government of Zimbabwe, the corporate private and the development sectors having worked for the United Nations.
  • Mugwira has vast experience in corporate governance and was nominated Manager of the Year Junior category in 2010 by the IPMZ for her outstanding role in the setting up of the Quality Corporate Governance Centre  T/a Zimbabwe Leadership Forum (ZIMLEF) where she co-initiated the drafting of the National Corporate Governance Code for Zimbabwe.
  • She has been the Head of Legal and Corporate Services for several renowned entities in the private sector before moving to the public sector as the Head Legal Advisor and Company Secretary for the Medicines Control Authority of Zimbabwe and most recently the Group Legal Advisor and Board Secretarial Services Executive for the National Social Security Authority (NSSA) and the Principal Officer for the NSSA Staff Pension Fund.
  • She is  the 2017 Zimbabwe Mentee and Alumni for the prestigious Fortune 500 United States State Department and Vital Voices Women’s Mentorship Programme.
  • Mugwira has sat on several boards including her current seat as a PROWEB Trustee, having chaired its Legal Committee for two years, a Member of the University of Zimbabwe Council where she sits in the Executive, Audit and Risk Committees and chairs the Disciplinary Appeals Committee.
  • She was appointed to the Institute of Corporate Directors Zimbabwe Board in November 2019 and to the Legislation Committee of the Women in Insurance Board in March 2020.