Former Zimbabwe Stock Exchange (ZSE) chairman and renowned broker Ndodana Mguquka has died.
He was 51.
Mguquka, an outstanding stockbroker who once dominated the local market like a colossus, died in the early hours of the morning at Samuel Leon Medical Centre in Harare.
Highly regarded in the stock broking fraternity, he was former New Africa Securities and Fincent Securities managing director.
Previously, he had worked for NDH Equities and Sagit Stock Brokers, one of the oldest stock broking firms in Zimbabwe at the time in the later 1990s and early 2000s.
In 2003, he founded New Africa Securities (Pvt) Ltd with his friend Jethro Sibanda, and led the firm to be one of the biggest and best run securities firm in the country, attracting clients from emerging and European markets.
He was a member of ZSE, the Securities Institute London (UK) and South African Institute of Financial Markets.
He was also a member of the Institute of Bankers South Africa.
With Sibanda, Mguquka also founded Straitia Investments, which ran Stratia Beverages.
A former colleague told The NewsHawks:
“I’m very sad to hear that our colleague Ndodana Mguquka s gone.
“He was a great guy, a highly talented broker and well-regarded in the stock broking fraternity.
His strength lied in networking and big deal-striking ability, for instance on privatisation, notably Zimre privatisation, Dairiboard and CFI listings.
While at Sagit and HDH, he also worked on Astra industries and Barbican listings, among other companies.
He also advised Truworths on their capital restructuring.
At New Africa Securities, he led the takeover of First Mutual and CFX, and was the sponsoring broker for Finhold/Intermarket merger transaction, among other big transactions.”
In 2010, Mguquka was appointed ZSE chairman.
After quitting, he worked on several projects in the market.
A staunch Highlanders Football Club and Liverpool fan, Mguquka loved sport and was a free spirit; easygoing.
Whenever he had one or two many, he would take to dancing and singing his favourite Bosso songs, “Inkonkoni iyajama” and Khonale eNjelele ijuba lakwelimota”, among others.
His favourite music included traditional Ndebele and Zulu tunes, particularly by Lovemore Majaivana and Soul Brothers.
Whenever drunk, he used to brag: “I’m the first world-class Ndebele stockbroker; the rest are just ordinary, pedestrian brokers!”
Mguquka also played social soccer and loved farming, as well as visiting his rural area in Silobela, Midlands province.
However, his life later became turbulent after falling out badly with his friend Sibanda and two marriages collapse.
Mguquka, a chain-smoker, also struggled with alcohol.
He was once involved in a car accident which claimed one life.
His life went downhill and he became a pale shadow of his former self. The situation was worsened by health problems.
Away from business and sport,
he dabbled in politics a bit as one of the sponsors of the revived Zapu under the late veteran politician Dumiso Dabengwa.
Mguquka leaves behind a major footprint on the stockbroking market landscape, with a record of ground-breaking transactions and training stockbrokers who are doing well.
Mguquka is survived by two children, his son Muzi and daughter Langelihle.
He will be buried at his rural home at eLahleka, Silobela, Midlands.
Newshawks
