@mutami_susan@TembaMliswa Kuita umwe mwana hapana chaipa hako. Takuonera kare zvauri kuda . Good idea iyi not kuita vana hobho vane vana vakasiyana. Ita zvawada wangu life ndeyako iyi. Usakoneswa nevanhu varipano ava .
How did Emmerson Mnangagwa and his corrupt business cronies use the Mbudzi Interchange to loot millions in public funds?
The interchange, shamefully named “Trabablas” (which means “nonsense” in Spanish), was designed in South Africa, with the cost originally pegged at US$42 million. This amount included compensation for landowners affected by the project.
Mnangagwa and his associates then inflated the cost to US$88 million from US$42 million.
In a 2023 government gazette (see document below), they declared that the funding was a loan from one of Kudakwashe Tagwirei’s companies, Fossil Mines, which is run by his close ally, Obey Chimuka.
The loan is due to be fully repaid by 6 June 2025 at the London Interbank Offered Rate (LIBOR) plus an additional 5%.
LIBOR was a benchmark interest rate at which major global banks used to lend money to one another in the international interbank market.
This rate is unusually high for a sovereign loan. Moreover, LIBOR was officially discontinued in 2023, making its use in a 2022 loan deal highly questionable and suggestive of financial manipulation or incompetence.
As if that were not enough, Mnangagwa also instructed his equally corrupt Finance Minister, Mthuli Ncube, to draw funds from the International Monetary Fund’s Special Drawing Rights (SDRs) and allocate them to the construction of the interchange (see document below).
Zimbabwe received SDR allocations from the IMF in 2021. The government did allocate part of these to infrastructure, and a portion of the SDRs was directed to the Mbudzi project.
The project therefore received a double allocation; a loan of US$88 million plus huge interest that you, the taxpayer, are expected to repay, and funds from the IMF’s Special Drawing Rights.
When asked how much of the IMF money was allocated to the Mbudzi Interchange, government officials refused to respond, having received instructions from Mnangagwa’s office not to entertain such questions.
So, the cost ballooned from US$42 million to US$88 million, followed by double allocation using SDRs.
As for the landowners, the actual value of the land was also overstated. A piece of land worth US$100,000 was valued at US$500,000 in exchange for kickbacks.
When I asked a source in the Ministry of Finance why Mnangagwa allocated IMF money when there was already a loan with Fossil, the official told me they had been instructed to tell the media that the IMF money was meant to service the Tagwirei loan.
When I asked why they needed a loan at all when it would have been cheaper to simply use the IMF money to fund the project at US$42 million, the official replied, “Ndokudya kunoitwa nevakuru.”
It means “That’s how the powerful eat” or “That’s how the elites benefit,” implying corruption and self-enrichment by those in power.
This was the equivalent of your father giving you money to pay school fees, then you go and borrow money to pay those same fees, justifying it by saying you will repay the loan using the money your father already gave you—and you are even happy to pay interest on top. Completely meaningless.
In a country with only one terrestrial television station, where journalists are jailed without trial for exposing corruption, it is no surprise that Mnangagwa believed he could excite Zimbabweans with an interchange—hoping that such misplaced excitement would distract citizens from realising how the same misnamed project was used to loot public money (millions of dollars) meant for hospitals, schools, and clean drinking water.
Please find the documentation which proves all this below here👇🏿
All this information would have been very useful if we had a genuine Parliament, judiciary, Anti-Corruption Commission, and an independent police service.
But Mnangagwa has captured all these institutions, and just this week, he threatened journalists with violence for writing what he does not like.
@Leon_Schreib Waste of resources. Document them. Then collect tax from them to boost the economy . Those people are going to come back all of them. That is the reality you dont want to here.
@MDNnewss Educated South Africans celebrates this move while uneducated complaining that their country is gone. The coming of Starlink in SA creates jobs and much needed technology . Government will benefit tax and that tax will be paid to old age citizens and other disadvantaged citizens
Ndisati ndakunzi Red flag…I once dated a +44 ..aiuya after every 3months ..I used to take care of his crippled mom when he was not around .Akazodzoka akanditi wangu we are not in the same class ndakazoona wangu munhu Ane class inoenderana neni and I think u should move on😒