Zimbabwe's sovereign wealth fund paid inflated $1.6bn to unknown individuals for Kuvimba Mining House shares, raising corruption concerns.
Zimbabwe's sovereign wealth fund (formerly Mutapa Investment Fund) reportedly paid "grossly inflated" $1.6bn to unknown individuals to buy shares in Kuvimba Mining House, a conglomerate with ties to Kudakwashe Tagwirei, an advisor to President Emmerson Mnangagwa. The payment, equivalent to 5% of Zimbabwe's GDP, raises concerns about corruption and the stability of Zimbabwe's debt restructuring talks.
July 03, 2024
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