How Philip Mataranyika Demystified Death and Built Zimbabwe’s Leading Funeral Empire
From humble beginnings in Nyazura to the helm of one of Zimbabwe's most iconic brands, Philip Mataranyika’s journey as the co-founder and Group CEO of the Nyaradzo Group is a masterclass in vision, resilience, and challenging cultural norms.
The Founding of Nyaradzo
Twenty years ago, owning a funeral business was a cultural taboo for indigenous Zimbabweans. When Philip Mataranyika decided to launch Nyaradzo in 2001, he faced immense resistance. He recounted how his own mother vehemently protested, believing he was "inviting misfortune." The core mission was to provide funeral services in sync with African culture, but first, they had to overcome the cultural barrier itself.
Nyaradzo's resilience was tested during Zimbabwe's hyperinflationary period around 2008, a time when many companies collapsed. To keep the business afloat, Mataranyika admits they had to make bold decisions, including sourcing foreign currency on the parallel market to continue operations. This led to his arrest for violating foreign exchange regulations, though he was later acquitted. It was a risk taken to avoid disappointing clients.
Growth & Diversification
Over two decades, Nyaradzo has grown from a single funeral services company into a powerful, diversified conglomerate. The group now includes:
- Nyaradzo Funeral Assurance: The core business and market leader.
- Calundike Exports: A manufacturing arm that produces coffins and caskets.
- Eureka Insurance Brokers: Specializing in a wide range of insurance products.
- Sahwira Events: An events management and hospitality division.
The group is also expanding internationally, with offices in South Africa and plans for the United Kingdom, as well as ventures into the tourism sector.
Beyond business, the Nyaradzo Group is committed to social and environmental impact. After Cyclone Idai ravaged the country, the group provided significant aid to affected families. They have also embarked on an ambitious environmental project, aiming to plant 500 million trees by 2026.
The Man Himself
Before founding Nyaradzo, Philip Mataranyika had a distinguished 15-year career at Old Mutual. He joined as a Benefits Administrator and rose through the ranks to become a Financial Advisor. His excellence was recognized when he won the Chairman’s Prize for Top Financial Advisor for five consecutive years (1996-2001).
He is a graduate of the Institute of Marketing Management of South Africa and holds a Master of Science Degree in Strategic Management from the Chinhoyi University of Technology.
Though often listed among Zimbabwe's richest individuals, Mataranyika is known for his humility. He famously took it upon himself to personally drive the hearse carrying the body of music icon Oliver Mtukudzi. This act of service was repeated when Nyaradzo served as the undertakers for former President Robert Mugabe, breaking with state tradition.
His leadership has earned him numerous accolades, including the Business Luminary Award (2013), CEO of the Year (2010), and National Businessman of the Year (2010).
Frequently Asked Questions
Philip Mataranyika is the co-founder and Group Chief Executive Officer of the Nyaradzo Group, one of Zimbabwe's largest and most successful funeral assurance and services companies.
He worked at Old Mutual for 15 years, rising from a Benefits Administrator to a top Financial Advisor, winning the company's highest award for five consecutive years.
The Nyaradzo Group has diversified beyond funeral services to include Nyaradzo Funeral Assurance, Calundike Exports (coffin manufacturing), Eureka Insurance Brokers, and Sahwira Events (events management).
He faced significant cultural resistance, as the funeral business was considered taboo for indigenous people. His own mother initially opposed the venture. He also navigated Zimbabwe's hyperinflationary economy, which included being arrested for violating foreign exchange regulations in a bid to keep the company operational.
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