ZIDA CEO Douglas Munatsi Dies In House Fire, Police Suspect Foul Play

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HARARE – The Chief Executive Officer (CEO) of the Zimbabwe Investment and Development Agency (ZIDA), Douglas Munatsi, died in a suspicious house fire early Monday morning.

According to the Northfields Owners Association Chairperson, C Gardiner, at approximately 02.50AM, on Monday 29th November, a fire was detected by the occupant of flat C9 in Northfields. There was no electricity at the time due to a cable fault. The occupant in C10 heard commotion and noise, and went to his balcony to investigate further. There, he heard from the occupant of C9 that there was a fire and he asked to call the fire brigade. At 02.59, the fire brigade was called, and they arrived at 03.11. 

“They fought the blaze for 2 hrs, and despite their efforts, they were unable to save the occupant of C9, who is believed to be Mr Douglas Munatsi. Thanks must be given to the professionalism and endeavors of the City of Harare Fire Brigade. Without their intervention, is it very likely that more lives would have been lost and more property destroyed. The Association has engaged the services of a forensic fire investigator to assess the cause the of the fire” the statement reads.

Police are investigating this fire at the prominent business executive’s 9th floor Northfields flat on Fifth Street and Josiah Tongogara in which he was killed. A police source said that the fire is being investigated as possible arson.

The former BancABC CEO was appointed to the role of CEO of the Investment and Development Agency  by President Emmerson Mnangagwa in 2019.

It is reported that Munatsi was due to meet Mnangagwa on Monday morning.

He was known mostly for leading BancABC since its formation in 2000, until its acquisition by Atlas Mara in 2014.

Munetsi was the owner of Kunatsa Estates.

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