Tycoon Accused of Siphoning Millions Faces Scrutiny
Activist Labels Business Mogul a ‘Well-Connected Conman’ Amidst Allegations of State-Enabled Looting
Renewed public outrage has erupted over claims of state-sanctioned enrichment by business magnate **Kudakwashe Tagwirei**. These allegations surface as a senior ruling party official attempts to distance the party from the controversial figure.
Explosive Treasury Bill Revelations
Political activist **Jealousy Mawarire** has accused **Tagwirei** of exploiting preferential currency conversion deals. **Mawarire** alleges that **Tagwirei** transformed $15 million in Treasury Bills into over $75 million USD following the introduction of Statutory Instrument 33 in 2019. This instrument compelled other citizens to convert US dollar balances at a disadvantageous 1:1 rate.
Mawarire characterized **Tagwirei** as a “well-connected conman,” asserting that he manipulated state mechanisms to gain $60 million in illicit profits while ordinary Zimbabweans suffered financial losses.
Billions in Questioned Funds
Between 2017 and 2019, **Tagwirei**’s company, Sakunda Holdings, and associated firms reportedly obtained more than $3 billion in Treasury Bills, bypassing parliamentary oversight. A 2019 parliamentary investigation found a significant portion of these funds untraceable. It is suggested that the Reserve Bank of Zimbabwe may have printed money to finance Sakunda, exacerbating inflation and economic instability.
Further scrutiny revealed that in 2020, **Tagwirei**’s firm received $1.28 billion for the Command Agriculture program, with only $1 billion properly accounted for. The Auditor General highlighted the remaining $280 million as unaccounted for, noting the program’s lack of transparency, documentation, and prevalence of irregularities.
New Front in Alleged Land Reform Fraud
**Mawarire** now warns that **Tagwirei** has allegedly redirected his focus to the land reform sector. Through a purported “Land Tenure Implementation Committee,” **Tagwirei** is accused of selling fraudulent title deeds to unsuspecting land beneficiaries.
“This guy has to be stopped,” **Mawarire** stated, vehemently rejecting any notion that **Tagwirei**’s actions contribute positively to the nation.
Ruling Party Denies Deep Ties
These revelations coincide with an interview where ZANU PF National Political Commissar **Munyaradzi Machacha** described **Tagwirei** as merely a party supporter. He insisted that **Tagwirei** is not a central figure within the party’s core structures.
“He has been a supporter of the party for many years, standing with the party through thick and thin,” **Machacha** stated. “He fought hard to make sure the economy stabilises.”
—Munyaradzi Machacha, ZANU PF National Political Commissar
During the exchange, **Machacha** was pressed by interviewer **Simba Chikanza** regarding **Tagwirei**’s controversial inclusion in party structures. **Machacha** dismissed concerns about constitutional adherence, claiming no knowledge of violations and refusing to acknowledge official documents presented to him.
“So all a person needs to do is to just become a supporter, and they have entered the structures?”
—Simba Chikanza, Interviewer
“He was co-opted by Harare Province… who are you to say he mustn’t be co-opted?”
—Munyaradzi Machacha, ZANU PF National Political Commissar
The interview concluded abruptly after **Chikanza** referenced documentation that purportedly prohibits such appointments without proper vetting.
Public Demands Accountability
As further corruption allegations emerge, the public is questioning the circumstances surrounding these alleged financial improprieties. Key questions focus on why **Tagwirei** allegedly bypassed national policies, how billions in public funds became unaccounted for, and why the ruling party appears to shield individuals implicated in widespread fraud.
In Zimbabwe, corruption remains a significant challenge. According to Transparency International’s 2023 Corruption Perception Index, Zimbabwe scored 24 out of 100, ranking 157 out of 180 countries globally, indicating widespread perceived corruption (Transparency International 2023).
With substantial evidence and documentation, there are renewed calls for the Zimbabwe Anti-Corruption Commission, Parliament, and international bodies to initiate criminal investigations and freeze assets linked to **Tagwirei** and his network.
