Zimbabwe News and Internet Radio

Govt, Jonathan Moyo still fighting over controversial Chasi dismissal

By Nyashadzashe Ndoro

Government has rejected, as false, claims by self-exiled former cabinet minister Professor Jonathan Moyo that ex-Energy minister Fortune Chasi was fired by President Emmerson Mnangagwa for allegedly attempting to block the theft of US$ 1,2 Billion by the Zanu PF leader.

Former Higher Education Minister Jonathan Moyo
Former Higher Education Minister Jonathan Moyo

In a report, Moyo implicated Foreign Affairs minister Sibusiso Moyo and Mnangagwa’s ally Kudakwashe Tagwirei as benefactors of this illicit lucrative deal.

Moyo said Chasi sought to bar the US$ 1,2 billion Sotic International deal pursuing national interest without knowledge that Mnangagwa, Tagwirei, and SB Moyo were the benefactors.

Ministry of Finance and Economic Development Permanent Secretary George Guvamatanga said the National Oil and Infrastructure Company (NOIC) had not received the US1,2 billion loan from a foreign company, Sotic International.

“The information is false. The value of the pipeline is US$300 million. Sotic could only lend money that it would have raised from its bankers, unless it had free cash flows.

“Which bank would lend you US$1,2 billion against security of an asset worth US$300 million? One of the critical tenets of lending is the purpose of the loan and the source of repayment.

“An international lender would not conduct adequate due diligence and lend a country $1,2 billion which will then be fraudulently diverted.

“No loan would be captured in Government books if not approved by this committee. The approval then allows the loan to be captured into Government books for the purpose of repayment.

“It is not possible to record the loan if the loan proceeds have not been received and just like in the banks, there is also a process of front office, middle office and back office in the Public Debt Management Office,” Guvamatanga said.

But Moyo responded to government refusal and said Guvamatanga was criminally lying to hide serious crimes.

He added, “Nobody said the Sotic USD 1,2 billion and NOIC deal was a “signed loan”; it was grand theft. I give @FinanceZim 48 hours to come clean on the deal or face hell!” Nehanda Radio