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Zesimdumise Ndwandwe Nxumalo, Richmark Holdings Executive Director

Zesimdumise Ndwandwe Nxumalo left Durban and moved to the big city of Johannesburg to pursue his dreams of becoming an Entrepreneur and Businessman. Nxumalo studied for a Bachelor Arts Degree at Witswatersrand University, with the intention of majoring in an LLB but never completed his studies.

He began his entrepreneurial journey in March 2014 when Uber first launched in South Africa.

He spotted the potential of growth in the transportation industry. He proposed the idea of investing in Uber to his father, who then loaned him ZAR10 000. He approached SMG Group and signed his first Uber vehicle.

The firs Uber vehicle investment led to him owning a fleet of cars.

He is the former Progressive Youth in Business member.

Nxumalo founded ZIG Holdings, a youth investment holding company in 2015.

He formed a partnership with Ensure Security company and was appointed Chief Executive Officer (CEO) with a shareholding value of 35%.

Ensure Security moved from 220 guards to 800 security guards under his leadership.

ZIG Holdings became the enterprise development partner to EOH, a Johannesburg Stock Exchange (JSE) listed entity, where he advised and consulted for the entire group as well as for Tactical Service Systems and Tactical Property Systems.

He was approached by Supabets in an advisory and consultancy position.

In 2017, he partnered with Blue Label Telecoms, a JSE listed company, where he facilitated the placement of the various Blue Label products into the taxi industry of South Africa. Ze was then appointed as an Independent Advisor to the Transaction Capital group with issues relating to its subsidiaries, Transaction Capital Recoveries and SA Taxi Development finance.

Through this association he then became one of the lead negotiators for SA Taxi on government relations and taxi strike negotiations. In 2017 when the taxi strikes were at their peak, he intervened and brought on discussions between the main taxi owners and SA Taxi.

He convinced SA Taxi to lower the interest rates for Taxi owners from 28% to 24% and he involved the South African Department of Transport to help open the channels of communication.

In February 2018, Transaction Capital appointed Nxumalo as an empowerment partner and created Transaction Capital Kwanda, a company aimed at providing revenue management.

Nxumalo is currently an Executive Director and youth empowerment partner of Richmark Holdings, an investment company focusing in the telecommunications, property and commercial services sector.

He has played an integral marketing role for CELL C, advising on brand ambassadors and marketing strategies..

Nxumalo is passionate about assisting young entrepreneurs to play a key role in the South African economy of South Africa.

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