Harpal Singh Randhawa, an Indian-origin businessman, built a $5 billion fortune in Africa. Randhawa defied geographical and conventional business norms to establish a significant presence in a continent often overlooked by his peers.
Randhawa, who was 60 years old, was the owner of RioZim, a diversified Zimbabwean mining company with interests in gold, coal, nickel, and copper. The company is listed on the Zimbabwe Stock Exchange. He also founded GEM Holdings, a private equity firm with a worth of $4 billion. Randhawa served as the chairman of GEM for 30 years since its formation in 1993. Additionally, he was a partner at Sabre Capital Worldwide for 12 years and an advisor to real estate firm Safanad for three years.
RioZim has a long history in Zimbabwe, initially incorporated as Rio Tinto Southern Rhodesia Ltd. in 1956. The company separated from Rio Tinto plc in 2004 to become a wholly-owned Zimbabwean entity. In 2015, RioZim acquired Rio Tinto’s 78% stake in the Murowa Diamonds and its 50% holding in the Sengwa Colliery mine after the global mining giant left Zimbabwe.
Tragically, Harpal Singh Randhawa and his son, Amer Kabir Singh Randhawa, died in a plane crash in Zimbabwe on September 29, 2023. The Cessna 206 aircraft they were traveling in crashed en route from Harare to the Murowa diamond mines in Zvishavane. The plane, owned by RioZim, crashed about 6 kilometers from Mashava. All six people on board died in the crash. Amer Randhawa was a trained pilot but was a passenger on the flight.
Following Randhawa's death, Aliko Dangote, Africa's richest person, pledged to maintain Randhawa's Zimbabwean business operations. Dangote affirmed his commitment to ensuring the continuity of Randhawa's business empire, which includes vast interests in gold, diamonds, and coal mining.
Harpal Singh Randhawa’s journey from India to building a substantial business empire in Africa stands as a testament to his vision and entrepreneurial spirit. His investments and business acumen made him a prominent figure in Zimbabwe’s economy.
