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Vol 54 No 21

Published 18th October 2013


Glencore and the fuel firms

The indigenisation board claims the commodity trader is financing a local front company to buy the country’s biggest fuel-trading firm

The proposed buyer of the national fuel distribution company Zuva Petroleum, Woble Investments (Private) Limited, is using the global commodities trader Glencore’s money for the acquisition, says a government report obtained by Africa Confidential. John Mushayavanhu’s Woble was buying 51% of Zuva, which operates the national filling station networks that used to belong to BP and Shell, for nearly US$25 million in cash, we reported (AC Vol 54 No 20, Sakunda fuels rumours).

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