Mnangagwa under, fraud probe

THE Zimbabwe Republic Police's Criminal Investigations Department is investigating Vice-President Emmerson Mnangagwa's role in the mismanagement and looting of Zanu PF's business empire, leading to its collapse, in what is seen as part of President Robert Mugabe's succession war.

The Zimbabwe Independent claims that it is reliably informed that the police are investigating 39 cases of fraud, meaning the vice president could face up to 39 counts.

Police sources said this week the investigations stem from a Zanu PF's Report of the committee on Party Investments, debated by the politburo on July 27 2005 and August 3 2005, which revealed the companies, supervised by Mnangagwa who was then secretary for administration, were a shambles due to gross mismanagement and corruption.

Zanu PF had interests in public and private companies held through M&S Syndicate (Pvt) Ltd. The ruling party had invested in Treger Holdings, Mike Appel, Catercraft, Fibrolite, which closed in December 2004 as well as Zidlee, which failed to take over Delta in 1989.

The party also had interests in Southern African Re-Insurance Company (Sare), Zidco Holdings and First Bank, whose Democratic Republic of Congo investment also collapsed.

Zanu PF also had interests in National Blankets, Woolworths and Ottawa Building, which were disposed of under unclear circumstances.

Furthermore, Zanu PF separately owned Jongwe Printing & Publishing Company, as well as Jongwe and Nyadzonya farms.

Mnangagwa, who sat on nearly all the companies' boards, supervised M&S Syndicate with Manharlal Chiunilal and Jayant Chiunilal Joshi.

The Zanu PF probe team comprised the late David Karimanzira, who chaired the committee, and the late retired army commander General Solomon Mujuru, Obert Mpofu, Simba Makoni and Thokozile Mathuthu.

The report said the companies were a mess and riddled with managerial corruption and incompetence which could have prejudiced the ruling party of billions of dollars and assets.