Farai Rwodzi Biography

Background

Rwodzi completed his secondary education at Churchill Boys High. He subsequently served his articles with Ernst & Young Chartered Accountants Zimbabwe from 1991 to 1995. After qualifying as a chartered accountant, he began his corporate career at Delta Corporation Limited. He later joined Real Africa Durolink (Private) Limited, serving as the executive director responsible for corporate finance.

Interfin Merchant Bank and Investments

In October 1999, Rwodzi left Real Africa Durolink to establish Interfin Merchant Bank of Zimbabwe alongside co-founders Tim Chiganze and Jerry Tsodzai.

During its operation, Interfin underwrote the ART rights issue, which had a low subscription rate, resulting in Interfin acquiring a significant shareholding in ART. The founders later sought to transition the institution into a commercial bank. This was achieved when Interfin underwrote a $10 million rights issue for the struggling CFX bank on the condition of gaining a controlling stake. Following the transaction, CFX's Gilbert Muponda publicly alleged that Rwodzi and his partners had fraudulently taken over the bank. Rwodzi dismissed these claims, though the allegations negatively impacted the bank's public perception. Additionally, there were claims that Rwodzi's business growth was backed by a political faction within Zanu PF, an allegation he vehemently denied.

Interfin Bank was eventually placed under curatorship in 2012 and subsequently went into liquidation in December 2014. Following the bank's collapse, Rwodzi was sued by the Deposit Protection Corporation (DPC). The DPC alleged that Rwodzi unlawfully or fraudulently utilized his influence as a controlling shareholder to grant unsecured loans to companies in which he held direct or indirect interests.

Corporate Leadership

Throughout his career, Rwodzi has held numerous executive and non-executive board positions across various Zimbabwean corporations.

• Chairmanships: He has served as Chairman of Zimbabwe Alloys Chrome (Pvt) Limited, Apex Corporation of Zimbabwe Limited (starting January 2005), Seed Co. Ltd, Dawn Properties Limited (until March 2010), and Meikles Limited (January 2010 to June 2011).
• Directorships: His directorship roles have included New Chester Investments (Private) Limited, Gulliver Consolidated Limited, Cottco Holdings Ltd. (from December 2010), African Sun Limited (until December 2009), and WMB Durolink.
• He was also employed at Benscore Investments (Private) Limited.

Personal Life

Rwodzi was married to Lorah Madiwa for nearly 27 years. In February 2018, Madiwa filed for divorce at the High Court, citing irreconcilable differences and alleging that Rwodzi had an extramarital relationship.

As part of the divorce proceedings, Madiwa sought a share of assets acquired during their marriage, including a farm in Mashonaland East Province and holiday homes. She also requested child maintenance of $6,780 per month and post-divorce spousal maintenance of $3,730 per month, or alternatively, a once-off lump sum payment of $350,000 to start a business venture.

Rwodzi's property portfolio reportedly includes a residence in Greystone Park, a property in Umwinsdale, a penthouse near Harare Sports Club, and two houses in South Africa.