Opinion / Columnist
Will Gaddafi's family settle in Zimbabwe?
26 Oct 2011 at 01:40hrs | Views
While the burial of Muammar Gaddafi at an unidentified desert location early Tuesday 25/10/11 might bring closure after unease in the West over the display of his decomposing body in Misratah, the real drama is arguably only beginning.
Media reports suggested that that the former first family of Libya intends moving to South Africa prompting concerns if the Gaddafis will eventually settle in Zimbabwe.
Despite repeated demands by Libya's National Transitional Council that Gaddafi's family including his widow Safia, daughter Aisha and sons Muhammad and Hannibal who fled to Algeria be extradited to Libya and stand trial, the family plans to travel to South Africa.
Ironically, also expected to travel to South Africa are the former dictator's two other sons - the 'enigmatic and elusive' Seif al-Islam and Saadi who are both on the Interpol most wanted list. We remember Seif vowing on live television to die fighting in Libya.
While Algeria had said it will not extradite Gaddafi's family to "Libya or any other country", it is not clear what has caused it to change its position. Some analysts believe the move to South Africa was influenced by security concerns with Libya.
However, the real drama surrounds tracking down Gaddafi's staggering estate which is estimated at more than US$200 billion spread across at least 35 nations on four continents comprising hidden cash, gold reserves and investments.
According to the Los Angeles Times (21/10/11), the money was secretly salted away into bank accounts, real estate and corporate investments, about US$30,000 for every Libyan citizen and double the amount that Western governments previously had suspected.
The astonishing wealth of the late dictator and his family was laid bare in March as Western countries began freezing his assets. The UK's Daily Mail reported on 02/03/11 that the U.S. alone froze US$30 billion (£18.5bn) of their investments, while Canada froze US$2.4bn (£1.5bn), Austria, $1.7bn (£1bn) and the UK, $1bn (£600m).
The assets which were believed to be just the tip of the iceberg include properties in London's West End theatre and shopping district worth US$455m (£280m) as well as US$325m (£200m) in shares in Pearson, the owner of the Financial Times and Penguin books.
In 2009, Gaddafi's son, Seif reportedly bought a US$15 million (£10m) London home boasting a swimming pool, eight bedrooms, a sauna and a Jacuzzi. The assets also include a US$15million luxury mansion with an electricity operated rubbish store in an affluent suburb of North London. When he was in Vienna, Seif Gaddafi lived in a luxury villa and his pet tiger was allegedly housed in the city's zoo.
Gaddafi's assets in Zimbabwe are believed to include, several commercial farms, a Harare villa known as Gracelands, bought from Mugabe's wife, investments in Zanu-pf companies and at least a 14 percent stake in the Commercial Bank of Zimbabwe (CBZ Holdings).
Contrary to denials by CBZ, international investigators reportedly concluded that the Libyan Arab Foreign Bank (LAFB) through which Gaddafi bought shares in CBZ was the former dictator's personal tool (The Zimbabwean, 31/08/11).
It is also strongly-held that title deeds to Zimbabwe House which accommodates the country's embassy in London were surrendered as surety to Gaddafi by Mugabe in 2002 after Zimbabwe failed to meet its US$90million quarterly payment as part of a US$360 million oil deal with the Libyan State Oil company Tamoil (SW Radio Africa, 27/09/11).
If it is true that the Gaddafi family will be moving to South Africa, at least not within striking distance of the NTC, that would inevitably put Robert Mugabe and his Zanu-pf party in panic mode amid fears that some of Gaddafi's investments were allegedly being siphoned according to court reports.
For instance, the former ZBC staff, Stanley Masendo was accused of defrauding the Libyan government of US$4million from a company known as Crieff investments which later changed its name to Aldawila Investments (Zimbabwe Independent, 11/03/11). But that is not all. More drama will be on the NTC's response.
The last thing Harare's coalition government wishes to entertain is the prospect of hosting another VIP family after Mengistu's. But Mugabe always gets his way.
Contact author: zimanalysis2009@gmail.com
Media reports suggested that that the former first family of Libya intends moving to South Africa prompting concerns if the Gaddafis will eventually settle in Zimbabwe.
Despite repeated demands by Libya's National Transitional Council that Gaddafi's family including his widow Safia, daughter Aisha and sons Muhammad and Hannibal who fled to Algeria be extradited to Libya and stand trial, the family plans to travel to South Africa.
Ironically, also expected to travel to South Africa are the former dictator's two other sons - the 'enigmatic and elusive' Seif al-Islam and Saadi who are both on the Interpol most wanted list. We remember Seif vowing on live television to die fighting in Libya.
While Algeria had said it will not extradite Gaddafi's family to "Libya or any other country", it is not clear what has caused it to change its position. Some analysts believe the move to South Africa was influenced by security concerns with Libya.
However, the real drama surrounds tracking down Gaddafi's staggering estate which is estimated at more than US$200 billion spread across at least 35 nations on four continents comprising hidden cash, gold reserves and investments.
According to the Los Angeles Times (21/10/11), the money was secretly salted away into bank accounts, real estate and corporate investments, about US$30,000 for every Libyan citizen and double the amount that Western governments previously had suspected.
The astonishing wealth of the late dictator and his family was laid bare in March as Western countries began freezing his assets. The UK's Daily Mail reported on 02/03/11 that the U.S. alone froze US$30 billion (£18.5bn) of their investments, while Canada froze US$2.4bn (£1.5bn), Austria, $1.7bn (£1bn) and the UK, $1bn (£600m).
The assets which were believed to be just the tip of the iceberg include properties in London's West End theatre and shopping district worth US$455m (£280m) as well as US$325m (£200m) in shares in Pearson, the owner of the Financial Times and Penguin books.
In 2009, Gaddafi's son, Seif reportedly bought a US$15 million (£10m) London home boasting a swimming pool, eight bedrooms, a sauna and a Jacuzzi. The assets also include a US$15million luxury mansion with an electricity operated rubbish store in an affluent suburb of North London. When he was in Vienna, Seif Gaddafi lived in a luxury villa and his pet tiger was allegedly housed in the city's zoo.
Gaddafi's assets in Zimbabwe are believed to include, several commercial farms, a Harare villa known as Gracelands, bought from Mugabe's wife, investments in Zanu-pf companies and at least a 14 percent stake in the Commercial Bank of Zimbabwe (CBZ Holdings).
Contrary to denials by CBZ, international investigators reportedly concluded that the Libyan Arab Foreign Bank (LAFB) through which Gaddafi bought shares in CBZ was the former dictator's personal tool (The Zimbabwean, 31/08/11).
It is also strongly-held that title deeds to Zimbabwe House which accommodates the country's embassy in London were surrendered as surety to Gaddafi by Mugabe in 2002 after Zimbabwe failed to meet its US$90million quarterly payment as part of a US$360 million oil deal with the Libyan State Oil company Tamoil (SW Radio Africa, 27/09/11).
If it is true that the Gaddafi family will be moving to South Africa, at least not within striking distance of the NTC, that would inevitably put Robert Mugabe and his Zanu-pf party in panic mode amid fears that some of Gaddafi's investments were allegedly being siphoned according to court reports.
For instance, the former ZBC staff, Stanley Masendo was accused of defrauding the Libyan government of US$4million from a company known as Crieff investments which later changed its name to Aldawila Investments (Zimbabwe Independent, 11/03/11). But that is not all. More drama will be on the NTC's response.
The last thing Harare's coalition government wishes to entertain is the prospect of hosting another VIP family after Mengistu's. But Mugabe always gets his way.
Contact author: zimanalysis2009@gmail.com
Source - Clifford Chitupa Mashiri
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