Businessman & ZIDA CEO Douglas Munatsi Dies In House Fire

Veteran banker and business executive Douglas Tawanda Munatsi has died. The businessman, who is known simply as Doug Munatsi, is reported to have been killed in a house fire.

Munatsi was the co-founder of ABC Holdings (now BancABC), since its formation in 2000, until its acquisition by Atlas Mara in 2014. At the time of his death, he was the chief executive officer of the Zimbabwe Investment and Development Agency (ZIDA). He was appointed to the position by President Emmerson Mnangagwa in 2019.

According to the online newspaper Zimlive, Munatsi died on Sunday night following a fire at his Northfields apartment in Harare. Details of the fire are still coming in. However, the police are said to be investigating the fire. A police source told the publication,

“The fire is being investigated as possible arson.”

Another online publication The News Hawks reports, Munatsi died in his bedroom in the fire incident in suspicious circumstances.

There was a fire at the flat, and residents were evacuated, but he remained locked in and was burnt to death inside.

Residents interviewed by The NewsHawks say the apartment had no electricity for the past three days, and when power was restored there was fire outbreak.

They were evacuated before returning to their units, but later Munatsi was found dead in his bedroom.

Below is a detailed statement on the death of Douglas Munatsi from the Northfields Owners Association.

The association wishes to advise stakeholders that at approximately 02.50 AM, on Monday 29th November, a fire was detected by the occupant of flat C9 in Northfields.

There was no electricity at the time due to a cable fault.

The occupant in 010 heard commotion and noise, and went to his balcony to investigate further. There, he heard from the occupant of C9 that there was a fire and he asked to call the fire brigade.

At 02.59, the fire brigade was called, and they arrived at 03.11.

They fought the blaze for 2 hrs, and despite their efforts, they were unable to save the occupant of C9, who is believed to be Mr Douglas Munatsi.

Thanks must be given to the professionalism and endeavours of the City of Harare Fire Brigade. Without their intervention, is it very likely that more lives would have been lost and more property destroyed.

The Association has engaged the services of a forensic fire investigator to assess the cause the of the fire. 

Condolence messages have since started coming in following the prominent businessman’s death.-