TM Group Enterprise nets US$50 million in value
Fast rising Gweru based real estate and services enterprise company, TM Group has defied the odds, growing from humble beginnings to become a big corporate with a net worth of more than US$50 million.
Founded by Kwekwe born Dr Tinashe Manzungu (33), who is the TM Group Board Chairman, the company now has foot prints in sectors anchored on government’s blueprint ‘ZimAsset’ clusters on health, finance, food security and infrastructural development.
As it stands, the TM Group which started from just the land development industry has diversified its business operations into different business portfolios including construction, real estate and land development, financial services, hospitality, health insurance, funeral services and agriculture (Beef production).
The company’s subsidiaries now include Zimbuild Property Investment, Luxury Living International, Pine Guest Lodge, Tinrue Financial Services, Zimbabwe General Medical Aid Fund and recently Africa Haven Funeral Services where Manzungu has more than 70 percent stake.
On the construction side, Manzungu said “We have Luxury Living International which takes care of housing and residential stands which assists SMEs and low income earners in the public service to acquire housing stands while Zimbuild Property Investments we do housing construction; the stands are semi serviced and serviced across the country.”
On the financial services front, TM Group Credit Manager, Rufaro Chingwe says the company provides funds to clients, needless of tittle deeds, at less than 7 percent interest.
“Tinrue Financial Services provides easy mortgage finance for medium to low income earners to purchase stands, construct houses and acquire merchandise or products for resale as we do not require title-deeds as security for loans since we provide the loans to people who are investing on our land bank, hence the main title deed.
“We want to bridge the gap left by banks, and other finance houses by not asking for more to an already distressed citizen of this country,” Chingwe said.
TM Group is also providing health insurance services under health insurer, the Zimbabwe General Medical Aid Fund ( ZIGMAF).
ZIGMAF Principal Officer, Moreblessing Kunyangwe said they are providing health insurance for as low as 20cents per day, targeting the unemployed, students, the informally employed which include vendors, miners, transport operators as well as medium to low income earners.
“We have total support from the Ministry of Small to Medium Enterprises and cooperative development because their members fit well into this type of medical aid Insurance.
“They can pay via any mobile facility a minimum of 20 cents per day towards their monthly subscription. This is very feasible considering that even if one fails to record significant sales per day, he or she can raise 20 cents to go towards the medical cover,” she said.
Kunyangwe added that Africa Haven Funeral Services comes as a windfall for ZIGMAF members and the type of policy a member has under the medical aid society translates to the type of funeral benefit the holder will enjoy.
Having begun from merely nothing, possessing only an ingenious brain, the company’s founder Manzungu says his zeal to succeed drove him into the entrepreneurial realm and has seen the success of his business empire.
Manzungu is a holder of a Geography and Environmental Science honors degree from the Midlands State University and obtained his Masters and Doctorate in Business Leadership from the International Women’s University.
He opened his first company “Tinshel Properties and Construction”, a company born out of empty coffers but through his ‘charisma’ negotiated a deal that saw him acquire a piece of land at Ascot, Gweru, at zero deposit.