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Vol 54 No 20

Published 4th October 2013


Zimbabwe

ZANU-PF expands its business empire

The security chiefs and their political allies use diamond revenue to buy up a national fuel distribution company

The head of the firm FBC Holdings, John Mushayavanhu, is at the centre of a mysterious plan to buy a controlling stake in a national fuel distribution company, Zuva Petroleum. FBC has long been linked to the ruling Zimbabwe African National Union-Patriotic Front (ZANU-PF). The first mystery is how Mushayavanhu, a moderately but not spectacularly rich banker, found the finance. Banking sources question how he would have been able to raise the funds for what he insists is a personal transaction.

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