Latest News Editor's Choice

News / Local

A glimpse into Mnangagwa's wealth

by Staff reporter
21 May 2023 at 08:14hrs | Views
Mozambique President Filipe Nyusi's visit to President Emmerson Mnangagwa's Kwekwe farm on Friday gave a glimpse into the Zanu-PF leader's massive wealth after he paraded his prized herd of Ankole cattle.

The  Ankole cattle are  one of the most expensive breeds in Africa.

They are known for their long horns and are a modern American breed of domestic cattle.

During Nyusi's visit to Precabe Farm in Kwekwe, it came to light that Mnangagwa owns more than 2 000 cattle and has been slaughtering two beasts a week since 2008 to feed his staff at the farm.

Mnangagwa also owns over 400 goats as well as chickens, it was uncovered.

It was not mentioned how many Ankole cattle the President has.

Across the border, Mnangagwa's counterpart in South Africa, President Cyril Ramaphosa also owns the expensive breed.

Ramaphosa is the biggest Ankole breed farmer in South Africa and has been auctioning his cattle at very elite prices.

In 2022, an auction of the cattle at Ramaphosa's Phala-Phala farm fetched close to R21 million.

The farm made headlines after former spy boss Arthur Fraser claimed a burglary occurred there in 2020, in which about $4 million in cash (around R64 million at the current exchange rate) was stolen.

Ramaphosa's brother-in-law Patrice Motsepe parted ways with R4,7m for four Ankole female cows. The most expensive of the lot cost him R2,1m.

The money was believed to be earned from the selling of game and cattle.

Mnangagwa, who has been in government since 1980, has been accused of looting government resources using his power.

Political analyst Rejoice Ngwenya said Mnangagwa's source of wealth was from the resources he allegedly looted for the past 40 years.

"Mnangagwa has a history of plundering companies and has been making money for the past 40 years," Ngwenya said.

A 2004 United Nations report named Mnangagwa as one of the many officials who looted diamonds and other precious minerals from Democratic Republic of the Congo (DRC).

Mnangagwa has also been linked to an underground illegal gold mining syndicate in the Midlands province, but he has denied the reports.

Recently, Al Jazeera's investigation revealed multiple links between Mnangagwa and the gold smuggling and money laundering syndicates that are bleeding the country.

Mnangagwa has been accused of enriching his family members.

He is also said to have vast business interests across the economy.

Source - The Standard