Home LOCAL NEWS ED’s Son, Chinamasa’ Implicated’ In Cash Black Market, NPF Reveals Damning Details

ED’s Son, Chinamasa’ Implicated’ In Cash Black Market, NPF Reveals Damning Details


ED’s Son, Chinamasa’ Implicated’ In Cash Black Market, NPF Reveals Damning Details

NPF spokesperson Jealousy Mawarire has fingered one of President Emmerson Mnangagwa’s son in an alleged black-market cash scheme.


Zimbabweans have, for years, struggled with cash shortages with many sleeping in queues at local banks which have been forced to drastically reduce daily withdrawals.

However, although money appears short in banks, cash is readily available at a premium on the black market, often in crisp new bills.

Speaking at a panel discussion organised by the Zimbabwe Electoral Support Network (Zesn) Thursday, Mawarire Finance Minister Patrick Minister and central bank governor John Mangudya used Tarirai David Mnangagwa’s company to ship loads of bank notes and electronic bank balances to street traders.

“Cash shortages were created by two thieves, Chinamasa and Mangudya,” Mawarire told a cheering audience.

“They are the ones who raided nostro accounts in banks; they are real bank robbers. They looted all the money leaving our banks dysfunctional.”

He added: At the Reserve Bank, there is a company Spartan Investments and is owned by Mnangagwa’s son. This is the one that delivers RTGS (Real Time Gross Settlement) balances to street traders.

“Those who work at the Reserve Bank know that this company is untouchable. It works with another company called Makanaka Investments belonging to (Antony Clever) Pote who is based in Zvishavane.

“The person who was caught trying to assist Mnangagwa to flee the country was his son called Tarirai David Mnangagwa who is the chief secretary of Spartan Investments.”

Mawarire’s allegations elicited threats of a civil suit from Zanu PF politician and presidential advisor Chris Mutsvangwa who was a co-panellist.

“The accusations if indeed they have got any basis or fact, are very grave,” said the former diplomat.

“I do hope that the gentleman who has uttered those allegations and mentioned those names will get a chance and would be offered a chance to defend them in a court of law.”

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