Farai Matsika Biography

Farai Matsika is a Zimbabwean entrepreneur and business executive born in July 1978. His career involves executive roles and shareholdings in various Zimbabwean companies, operating primarily within the automotive and funeral assurance sectors. As of 2026, his estimated net worth is reported to be US$100 million.

Business Portfolio and Roles

Matsika's business interests include a 30% shareholding in Croco Motors and a stake in Doves Holdings, co-owning these entities with Moses Chingwena. His professional roles have included serving as the Chief Executive Officer of Croco Holdings a conglomerate overseeing Croco Motors, Premier Auto Services, and Dulys Motors and he currently holds the position of CEO at Doves Group.

Croco Holdings Shareholder Dispute

In early 2015, Matsika sought to exit his position at Croco Motors to focus on other business ventures. He expressed feeling crowded out of decision-making by newly appointed senior executives introduced by his cousin and co-shareholder, Chingwena. Matsika offered to sell his shares to Chingwena, contingent upon an independent auditor's valuation of the company. However, after ordering the company valuation, Matsika was suspended from his role as CEO.

This dispute led to prolonged legal proceedings regarding the company's ownership. In November 2021, Matsika lost a Supreme Court appeal aimed at securing a 30% stake in Croco Holdings. The Supreme Court upheld a prior High Court ruling by Justice Owen Tagu, which concluded that Matsika had relied on fabricated documents. In the judgment, Justice Chinembiri Bhunu stated that evidence confirmed both the shareholders’ agreement and the share transfer documents presented by Matsika were fraudulent.

Insolvency Declaration

In August 2016, Matsika was declared insolvent in South Africa. The ruling was issued by the South African High Court in Pretoria following a hearing on May 9, 2016, under case number 58704/2015.