Ecobank robbery case collapses

A high-profile case tied to the US$4 million Ecobank armed robbery has crumbled after police admitted they had no evidence linking a local security guard to the dramatic heist.

Sibonginkosi Sibanda, 49, a Safeguard Security employee from Cowdray Park, was initially charged with armed robbery in connection with the 2024 raid on Ecobank's Bulawayo branch. However, in a dramatic turn of events, prosecutors have dropped the charge and replaced it with one of money laundering.

Sibanda appeared in court on Friday before Bulawayo magistrate Matthew Mutiro, where he pleaded not guilty to the new charge. He was remanded in custody pending a bail ruling on 7 July.

The collapse of the robbery case has raised serious concerns over the conduct and credibility of the police investigation. Sibanda's lawyer, Prince Butshe, accused investigators of conducting a "reckless operation based entirely on speculation."

"There was never a credible link between my client and the robbery," said Butshe. "When the case started to fall apart, the state changed the charge in an attempt to save face."

According to the revised charge, police launched a lifestyle audit on Sibanda after receiving anonymous tip-offs in June suggesting he was involved in shady financial dealings. The audit allegedly uncovered assets inconsistent with his known income, prompting authorities to pursue money laundering charges.

Prosecutor Constance Ncube told the court that Sibanda owns three residential properties—a six-roomed house in Cowdray Park and two additional homes registered under his daughters' names. He reportedly purchased a truck and a Honda Fit vehicle registered under his wife, and also owns a homestead in Insiza. Sibanda is further listed as a co-director of a private company with his wife and daughter.

During cross-examination, lead investigator Detective Tawedzerwa Shiriyapenga admitted that there was no longer any link between Sibanda and the Ecobank robbery.

"The robbery case is separate and still under investigation," Shiriyapenga said. "The accused is currently facing a money laundering charge based on information received from tip-offs and subsequent financial investigations."

But lawyer Butshe dismissed this explanation, accusing the police of shifting goalposts. He referred to an affidavit indicating that Sibanda was originally arrested for questioning over the Ecobank robbery, and only later suspected of financial crimes.

"You are misleading the court," Butshe said. "The police only changed the charge after realising they had no evidence to support the original robbery allegation. This is a cover-up for a flawed investigation."

Butshe also challenged whether Shiriyapenga was qualified to investigate financial crimes, arguing that such matters should be handled by specialist units within the police.

The court is expected to rule on Sibanda's bail application on Monday, 7 July, as the state scrambles to defend what has become an increasingly controversial case.