Former Zimbabwe Stock Exchange boss dies

Former Zimbabwe Stock Exchange (ZSE) chairman and revered stockbroker Ndodana Mguquka has died. He was 51.

Mguquka passed away in the early hours of the morning at Samuel Leon Medical Centre in Harare, marking the end of an era for Zimbabwe's capital markets where he once stood as a towering figure.

Highly regarded in financial circles for his sharp mind and unmatched deal-making abilities, Mguquka made his mark across several top stockbroking firms. He served as managing director at both New Africa Securities and Fincent Securities. His career began in the late 1990s at NDH Equities and Sagit Stock Brokers, then one of Zimbabwe's most established brokerage firms.

In 2003, Mguquka co-founded New Africa Securities (Pvt) Ltd with his longtime associate Jethro Sibanda. Under his leadership, the firm became one of the country's most respected securities companies, attracting both local and international clients, including those from emerging and European markets.

"He was a great guy, a highly talented broker and well-regarded in the stock broking fraternity," a former colleague told The NewsHawks. "His strength lay in networking and striking big deals—he played a key role in major privatisations like Zimre, Dairiboard and CFI listings. He also worked on the Astra Industries and Barbican listings, and advised Truworths on their capital restructuring."

At New Africa Securities, Mguquka led the takeover of First Mutual and CFX and served as the sponsoring broker for the Finhold/Intermarket merger—just a few of many major transactions that solidified his legacy in Zimbabwe's financial history.

In 2010, Mguquka was appointed chairman of the Zimbabwe Stock Exchange. After stepping down, he continued to work on various market-related projects.

Outside the boardroom, Mguquka was known for his vibrant personality and passion for football. A staunch Highlanders and Liverpool supporter, he was known to sing and dance enthusiastically to Bosso tunes like Inkonkoni Iyajama and Khonale eNjelele ijuba lakwelimota after a few drinks. He was especially fond of traditional Ndebele and Zulu music, with artists such as Lovemore Majaivana and Soul Brothers among his favourites.

Despite his early success, Mguquka's later years were marred by personal challenges. His relationships deteriorated—both with his business partner Sibanda and in two failed marriages. He struggled with alcoholism, chain-smoking, and was involved in a tragic car accident that claimed a life. Health problems further complicated his circumstances, and he slowly faded from the financial spotlight.

Mguquka also ventured briefly into politics, aligning with the revived ZAPU party under the late Dumiso Dabengwa.

Yet despite his personal turmoil, his contributions to Zimbabwe's stockbroking industry remain indelible. He mentored many brokers who continue to thrive in the sector today.

He is survived by his two children, Muzi and Langelihle. Mguquka will be laid to rest at his rural home in eLahleka, Silobela, in the Midlands Province.

His death leaves a significant void in Zimbabwe's financial community, where his brilliance and boldness shaped the course of local capital markets for over two decades.