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UK slaps “corrupt” business tycoon Tagwirei with more sanctions

By Nyashadzashe Ndoro | Nehanda Politics |

Controversial business tycoon and President Emmerson Mnangagwa’s close ally Kudakwashe Tagwirei has been slapped with more targeted sanctions by the United Kingdom.

Chief Executive Officer (CEO) and Director at Sakunda Holdings Group Kudakwashe Tagwirei, a local partner to South African Moti Group, speaks during the launch of an Aluminothermic Plant by Zimbabwe's biggest chrome miner African Chrome Fields (ACF), which is part of the Moti Group, in Kwekwe, Zimbabwe, on July 25, 2018. (Photo by Jekesai NJIKIZANA / AFP / Getty Images)
Chief Executive Officer (CEO) and Director at Sakunda Holdings Group Kudakwashe Tagwirei, a local partner to South African Moti Group, speaks during the launch of an Aluminothermic Plant by Zimbabwe’s biggest chrome miner African Chrome Fields (ACF), which is part of the Moti Group, in Kwekwe, Zimbabwe, on July 25, 2018. (Photo by Jekesai NJIKIZANA / AFP / Getty Images)

On Thursday, Dominic Raab, the country’s Foreign Secretary announced that five individuals involved in “serious corruption” in Equatorial Guinea, Venezuela and Iraq had been placed on targeted sanctions together with Tagwirei from Zimbabwe.

“Kudakwashe Regimond Tagwirei for profiting from misappropriation of property when his company, Sakunda Holdings, redeemed Government of Zimbabwe Treasury Bills at up to 10 times their official value,” Raab said.

Tagwirei and his company were recently slapped with economic sanctions by the United States over allegations that he was “providing support to the leadership of the Government of Zimbabwe” while capturing Mnangagwa’s government and profiteering on “illegal” government tenders.

Two weeks ago, a report published last Friday by the Sentry, titled “Shadows and Shell Games: Uncovering an Offshore Business Empire in Zimbabwe” revealed key details of Tagwirei’s business dealings, which have been linked to alleged corrupt activities.

The report established that Tagwirei was presiding over a sprawling network of more than 40 companies spanning the oil, mining, banking, logistics, transportation, and import/export sectors.

It also discovered that Tagwirei has effectively concealed his control over his “corrupt” empire “through an elaborate foreign network, hiding his wealth and ownership through offshore financial structures.”

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