Chiyangwa claims to own 57 000 residential stands

By Michael Chideme

In a display of wealth, Harare businessman, Mr Philip Chiyangwa, yesterday stunned a gathering of local government officials discussing national housing delivery system when he publicly declared he owned 57 000 residential stands in Harare alone. Prime Minister Morgan Tsvangirai, who chaired the meeting, quickly pointed out that Zimbabwe needed indigenous capitalists in order to develop.

PM Tsvangirai, however, said the country did not need “primitive wealth accumulators”. “We need local capitalists to develop a country. There is no country that has developed with external investors. We need the Chiyangwas, (Strive) Masiyiwas and (Nigel) Chanakiras. The problem we have here is about primitive accumulation. People should focus on one thing and do it best. Focus on construction and be the best billionaire,” he said.

Mr Tsvangirai said those involved in a multiplicity of business ventures ended up clashing with everyone. Close to 25 000 residents are active members on the city housing waiting list out of an estimated one million people in need of accommodation. Mr Chiyangwa, a property developer, was speaking after a tour of Harare City Council’s sewer and water infrastructure by mayors and chairpersons of local authorities.

“My company Pinnacle Holdings owns 57 000 residential stands in Harare,” he said. He added that in Harare South he owned 5 000ha of land and another 60ha in the Grange, Chisora Village. He has built 247 houses in Bluffhill among many other housing projects in the capital and Zimbabwe’s cities.

Earlier, Gweru mayor Tedious Chimombe, had insinuated that people like Mr Chiyangwa wanted to continue amassing houses and residential stands at the expense of other people. “I bought 5 000 ha in Harare South after I sold G and D Shoes in Bulawayo. Unfortunately, some of my land has been occupied,” said Mr Chiyangwa.

He said some councils he had helped to pay salaries to restive workers were now harassing him by threatening to repossess the land they gave him in exchange for the salaries. “I invested my money in Harare, Chinhoyi, Kwekwe, Gweru and Kariba. Some people call me tsotsi, but have no facts to back them up. “I am under attack. Do not be afraid of people with money. Do not stifle a person because of his political affiliation,” he said. The Herald