Business / Companies
Farai Rwodzi’s woes mounting
15 Jun 2012 at 11:40hrs | Views
No activity at Eastlea Spar this morning
Farai Rwodzi's woes are mounting as all his business dealings are now under probe. Latest news is that Eastlea Spar was closed this morning as part of a wider enquiry into Rwodzi's affairs and also to stem the possibility of funds being siphoned out.
The official reason for the closure!!!
Farai is a leading Zimbabwean entrepreneur with interests in various sectors of the economy including financial services, hospitality, industrial, property development and mining. He has been instrumental in the founding and/or transformation of several businesses and enterprises throughout the volatile economic environment that has characterized Zimbabwe since the late 1990s.
Prominent banker Farai Rwodzi, a non-executive director at telecoms company Africom Holdings, was arrested on espionage charges alongside acting chief executive Simba Mangwende and engineer Oliver Chiku, not much was made of the case. The trio were accused of illegally setting up satellite communication equipment to leak official secrets to foreign countries.
The three were aquitted given the apparent weaknesses of the state case.
Rwodzi is reported to have had close links to the Mujuru faction in Zanu-PF and speculated on the possible motives behind the arrest.
A source close to the Mujuru faction has told us that Rwodzi basically ran Mujuru's vast business empire which included mining, agriculture, transport, tourism and investment in the construction industry. One of the projects, diamond mine River Ranch which was seized from its original owners, is allegedly used to launder illegally smuggled diamonds from the DRC. Illegal DRC gold deals also form part of the Mujuru 'empire.'
Rwodzi calls Joice Mujuru 'mainini' or auntie and is a close relative, hence the trust. SW Radio Africa has been told that Rwodzi is viewed as the 'key money man' in the Mujuru faction and the arrest was made to demonstrate how the Mnangagwa faction now had the upper hand following Solomon Mujuru's death. "They are trying to show Joice that she is now weak and isolated," the source said.
The official reason for the closure!!!
Farai is a leading Zimbabwean entrepreneur with interests in various sectors of the economy including financial services, hospitality, industrial, property development and mining. He has been instrumental in the founding and/or transformation of several businesses and enterprises throughout the volatile economic environment that has characterized Zimbabwe since the late 1990s.
The three were aquitted given the apparent weaknesses of the state case.
Rwodzi is reported to have had close links to the Mujuru faction in Zanu-PF and speculated on the possible motives behind the arrest.
A source close to the Mujuru faction has told us that Rwodzi basically ran Mujuru's vast business empire which included mining, agriculture, transport, tourism and investment in the construction industry. One of the projects, diamond mine River Ranch which was seized from its original owners, is allegedly used to launder illegally smuggled diamonds from the DRC. Illegal DRC gold deals also form part of the Mujuru 'empire.'
Rwodzi calls Joice Mujuru 'mainini' or auntie and is a close relative, hence the trust. SW Radio Africa has been told that Rwodzi is viewed as the 'key money man' in the Mujuru faction and the arrest was made to demonstrate how the Mnangagwa faction now had the upper hand following Solomon Mujuru's death. "They are trying to show Joice that she is now weak and isolated," the source said.
Source - Byo24NMews
