NSSA chairman embroiled in underhand RTG takeover bid

📅 Published: August 21, 2025

Curated by AllZimNews.com

The statutory pension fund is however planning to offload 56% of its shares, over time, hence the on-going plot to devalue its shares to ensure cheap stock cumulative buying.

ZHL Capital, which is part of ZimRe Holdings, is Nssa’s financial advisory firm in the disposal of its 56%.

Nssa is talking to several potential buyers locally and internationally.

That is the stock Fundira and his business allies are targeting.

Fundira, who is deeply intertwined in hospitality activities, is conflicted as former African Sun chair with residual interest on the one hand; and current chairperson of Nssa which controls RTG on the other.

African Sun, which was ZSE-listed until 2023, is now listed on the Victoria Falls Stock Exchange and runs 10 hotels.

Fundira is a leading safari industry operator and has tourism assets in South Africa.

He still has indirect interest in African Sun business affairs.

In addition, Fundira is heavily invested in the hospitality and tourism industry.

He owns and is chief executive of Astoc Leisure Group.

He is also the Safari Operators Association of Zimbabwe president and past chairperson of the Zimbabwe Council of Tourism.

Upon taking over Nssa, Fundira signed an agreement not to be involved in hospitality issues as RTG is a competitor to African Sun.

He is however meddling in hospitality affairs in violation of the agreement.

This comes at a time the Zimbabwe Anti-Corruption Commission (Zacc) has launched an investigation into alleged money laundering against RTG and its executives.

The allegations basically involve a series of payments in salaries, gratuities, allowances and bonuses, some of them backdated due to lagging remunerations caused by the Covid -19 global pandemic and cashflows constraints.