Muradzikwa appointed new IPEC Commissioner

Grace Muradzikwa

The ministry of Finance and Economic Development has appointed insurance executive Grace Muradzikwa as Commissioner of the Insurance and Pensions Commission (IPEC).

IPEC has been operating without a substantive head following Tendai Karonga’s departure last year.

Director of Finance Blessmore Kazengura has been holding forte in an acting capacity. Muradzikwa’s appointment is with immediate effect and she was introduced to IPEC management and staff on Friday by Treasury secretary George Guvamatanga.

A decorated insurance executive, Muradzikwa left NicozDiamond at the end of February where she was the MD following the acquisition of the short term insurer by First Mutual Holdings.

She became the first black female executive to list and head a publicly traded company in the country following the listing of NicozDiamond on the local bourse in 2002.

Muradzikwa joined Zimbabwe Reinsurance Corporation in 1984 and established the personnel department with the responsibility of setting up the human resource and administrative systems and conditions of service for ZimRe.

In 1994, she was promoted to assistant general manager (planning and marketing) focusing on spearheading ZimRe’s external strategic thrust.

Her rise continued as she was appointed general manager of Diamond Insurance Company in 1995 with the responsibility of turning around the company which ranked 12 out of 13 insurers.

By 1997, she had turned it around to number 3 out of 20 companies. In October 2002, she oversaw the merger of Nicoz and Diamond to form NicozDiamond, one of largest short-term insurance company in the country. – Source: Business Times