Businessman Mutumwa Mawere has died at the age of 66.

Mawere died at a hospital in South Africa just days after celebrating his 66th birthday on January 11.

While the exact cause of death has not been officially disclosed, reports indicate that Mawere had been battling severe health challenges. He was diagnosed with an acute neurological condition in 2024, which reportedly led to a rapid deterioration in his health.

By late 2024, Mawere had been hospitalised for an extended period and was said to be unable to speak, appearing visibly frail in images that later circulated. His health struggles reportedly compounded his legal challenges, with court documents in related proceedings noting his impaired capacity.

Mawere leaves behind a significant business legacy, most notably as the founder of SMM Holdings, a major industrial conglomerate with interests spanning asbestos mining, manufacturing and banking.

After working as a senior investments officer at the World Bank until 1994, Mawere returned to Zimbabwe and established SMM Holdings. The company grew into one of the country’s largest conglomerates, employing thousands of workers and contributing substantially to Zimbabwe’s export economy through operations such as Shabanie and Mashaba Mines.

His business philosophy strongly emphasised black economic empowerment and private-sector-led growth in post-independence Zimbabwe, positioning him as a prominent figure in the country’s industrial reconstruction during a period of mounting economic challenges.

In 2004, the Zimbabwean government invoked the Reconstruction of State-Indebted Insolvent Companies Act to take control of SMM Holdings, citing alleged insolvency and debts owed to the state. Mawere consistently challenged the move, describing it as arbitrary, unconstitutional and politically motivated.

The takeover triggered prolonged legal battles across Zimbabwe, Southern Africa and international courts, disputes that would come to define much of Mawere’s later life and career.