KEY POINTS
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MIPF Principal Officer Kwanele Ndlovu will retire early on May 31, 2025, after 25 years of leadership, during which she spearheaded several member-focused initiatives.
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Laurence Karumazondo has been appointed Acting Principal Officer as the board begins recruitment for a permanent replacement and launches a strategic organizational review.
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Ndlovu is credited with modernizing pension administration, improving access to services, and safeguarding retirement benefits for nearly 90,000 mining industry workers.
Ms. Kwanele Gatsheni Ndlovu, the long-serving Principal Officer and Chief Executive of the Mining Industry Pension Fund (MIPF), will retire early, effective May 31, 2025.
According to Herald Online, the announcement was made by the MIPF board on Tuesday, marking the end of a remarkable 25-year career at the helm of one of Zimbabwe’s largest and most significant pension funds.
Ndlovu, widely recognized for her leadership and policy innovation, was instrumental in modernizing the Fund’s structure and extending its reach to underserved communities.
Among her notable accomplishments are the establishment of the MIPF Assisted Member Mortgage Scheme, which has enabled thousands of pension fund members to access home loans, and the rollout of satellite offices that now bring services closer to members in remote mining communities.
In an official notice, the MIPF board expressed its appreciation for Ndlovu’s decades of commitment, stating: “We are deeply grateful to Ms. Ndlovu for her unwavering dedication and exceptional contributions. Her leadership has helped to position MIPF as a resilient, responsive, and member-centric institution.”
Leadership transition comes amid strategic realignment of Zimbabwe’s largest pension fund
As part of the succession plan, the MIPF board has appointed Mr. Laurence Tafadzwa Karumazondo, the current Deputy Principal Officer responsible for Legal and Operations, to serve as Acting Principal Officer. His appointment is expected to ensure continuity while the board conducts an open recruitment process to find a permanent successor.
The board also confirmed that a comprehensive strategic review is underway, aimed at “positioning the organisation more robustly in a changing economic landscape.” This review will focus on operational resilience, service innovation, and long-term value creation for MIPF’s nearly 90,000 members.
According to the latest internal figures, MIPF currently manages a membership portfolio consisting of 26,174 active contributors, 40,086 deferred members, 6,946 preserved members, 4,456 individuals with unclaimed benefits, and 12,202 pensioners. The Fund plays a critical role in providing financial security to workers in Zimbabwe’s mining sector, a historically volatile but vital part of the country’s economy.
Ms. Ndlovu’s departure comes at a pivotal moment as Zimbabwe’s pension funds navigate economic uncertainty, currency fluctuations, and rising demands from aging beneficiaries. Her leadership in implementing digital pension administration tools and diversifying the Fund’s investment portfolio has been praised for safeguarding member benefits in a challenging financial environment.
In reflecting on her tenure, Ndlovu stated in a message to staff and stakeholders: “It has been a privilege to serve the members of MIPF and to contribute to an institution that stands as a pillar of security and dignity for thousands of Zimbabweans. I leave confident in the talent and vision of the team I have worked with.”
Her early retirement has prompted responses from industry leaders and unions, many of whom credit her with restoring trust and transparency in the pension system. The Zimbabwe Association of Pension Funds noted in a statement: “Ms. Ndlovu is a trailblazer whose legacy will resonate across the financial services sector for years to come.”
Looking ahead, the MIPF board has pledged to ensure a smooth transition while maintaining focus on service delivery, technological advancement, and sustainability.
