This is the biography of Nigel Muranganwa Kudzai Chanakira, the founder of Kingdom Bank, a former indigenous financial services group in Zimbabwe. He is also a success coach, philanthropist, and former chairman of the Zimbabwe Investment Authority.
Early Life and Education
Chanakira was born on 11 July, 1966 and raised in Harare’s Highfield suburb in an entrepreneurial family. His father and uncle operated a public transport company, Modern Express, and later diversified into retail shops. Chanakira attended Martindale Catholic Primary School, St. John’s High School, and Churchill Boys High School. He then enrolled at the University of Zimbabwe, where he obtained a Bachelor of Science (Hons) degree in Economics and a Master of Science (Hon) degree in Economics. He also holds a Diploma in Banking.
Nigel Chanakira Career and Business Ventures
Chanakira started his career as an assistant economist at the Reserve Bank of Zimbabwe in 1988. He then joined Bard Discount House as an investment analyst and fund manager, where he was appointed a director at the age of 24. In 1994, he and four other partners founded Kingdom Bank, which grew from humble beginnings to a leading indigenous financial services group. Chanakira merged Kingdom Bank with The Discount Company of Zimbabwe and acquired a stake in a foreign exchange bureau in 1999. In 2007, he merged Kingdom Financial Holdings with Meikles, a hospitality and retail giant, to create Kingdom Meikles Africa, one of the largest conglomerates in Zimbabwe.
Nigel Chanakira Biography [Image: Facebook]
However, the merger soon turned sour, resulting in a public and nasty fallout. Chanakira accused Meikles of externalising foreign currency and used his political connections to have the company specified by the government. Meikles’ chairman, John Moxon, fled to South Africa and later sued Chanakira for defamation. The dispute was eventually settled out of court, and the merger was reversed in 2010. Chanakira exited Kingdom Bank in 2013 and sold his stake to AfrAsia Bank.
Chanakira is also affiliated with various institutions and organizations, such as the Young Global Leaders of the World Economic Forum, the Global Shapers of the World Economic Forum, the Zimbabwe Economics Society, Celebration Ministries International, and the Success Motivation Institute. He has coached over 2000 individuals in over 500 organizations on leadership, management, and personal development. He is also a philanthropist who supports various causes, such as education, health, and entrepreneurship.
Awards and Recognition
Chanakira has received more than 17 local and international business awards for his achievements and contributions. Some of these awards include:
- The Zimbabwe National Chamber of Commerce (ZNCC) 2002 Businessman of the Year Award
- The Zimbabwe Institute of Management (ZIM) 2004 Manager of the Year Award
- The African Business Roundtable (ABR) 2005 Entrepreneur of the Year Award
- The World Economic Forum (WEF) 2006 Young Global Leader Award
- The Institute of Directors Zimbabwe (IODZ) 2007 Director of the Year Award
- The Zimbabwe Business Awards Council (ZBAC) 2008 Businessman of the Decade Award
- The Zimbabwe Leadership Awards (ZLA) 2012 Lifetime Achievement Award
Nigel Chanakira Personal Life
Nigel Chanakira Biography [Image: @nigelmkchanakira/Instagram]
Chanakira is married to Caroline, and they have three sons, Panashe, Tadiwa, and Ponayi, and one daughter, Mazvita. He is an active Christian and serves in Celebration Ministries International. He enjoys comedy, reading, golfing, and travelling.
References
- Nigel Chanakira – LinkedIn
- Chanakira still battling to raise US$15 million – Nehanda Radio
- Nigel Chanakira leaves Zimbabwe Investment Authority – Nehanda Radio
- Nigel Chanakira dives into comedy – The Sunday Mail
