The group Since 2015
Built to back the smallholder.
Ethical Holdings (Pvt) Ltd is the brainchild of two social entrepreneurs, David and Thomas Machingaidze: a privately held Zimbabwean group with one purpose, improving the livelihoods of smallholder farmers. Rukudzo Kumurimi, respect to the farmer.
Where it started
A finance gap, taken personally.
In 2015 the founders saw the same season fail the same way, over and over: capable growers with no upfront capital, stalled before the seed bed. Ethical Leaf Tobacco was built to close that gap, and the group has followed the leaf ever since, into trade, the auction floor, and now manufacture.
Core operations span agriculture, financial services, insurance and property investment. The vision has never moved: to become Africa's agribusiness unicorn.
Vision · Mission · Values
What we hold ourselves to.
Vision
To become Africa's agribusiness unicorn.
Mission
With passion, we improve the livelihoods of smallholder farmers.
The five E's
Ten years Milestones
The road so far.
- 2015
Ethical Holdings founded
ELT begins financing smallholder tobacco growers.
- 2017
Cotton contracting
The Zimbabwe Cotton Consortium launches free-inputs cotton contracting.
- 2018
Micro-insurance
Ethical Micro-Insurance brings cover to smallholders and small traders.
- 2019
Leaf Trade opens
The Leaf Trade division opens, exporting graded leaf to three continents.
- 2020
Gold Class launches
The Gold Class inputs scheme launches its four-tier ladder.
- 2026
The floor opens
The Ethical Sales Floor is licensed and opened; STAR cigarettes introduced.
The archive
Ten years in frames.
Leadership
People who know the leaf.
David Machingaidze, Group CEO
A social entrepreneur whose passion is the empowerment of the smallholder tobacco farmer through service excellence. A Harvard Business School and MIT alumnus, holding a degree in Accounting Science.
Tyson Ngongoni, Group GM
An experienced executive across agriculture and logistics, with an MBA from NUST and more than ten years leading contract-farming operations in cotton and tobacco.
Respect to the farmer.
That is the whole idea. If you grow tobacco in Zimbabwe, there is a place for you in the cycle.