Armed robbers made off with $4 million in cash on a busy street in Bulawayo after ambushing Safeguard security guards who were transporting the money from Ecobank to Harare.
According to reports, the security company claims they were not aware of the large sum they would be moving, which exceeded the contracted limits for cash transportation.
The heist went down when six masked men in a white Ford Ranger intercepted the Safeguard van, overpowering the guards and making off with the cash boxes.
Despite ongoing investigations, no arrests have been made, according to police reports. Safeguard is now questioning whether their insurers will cover the full amount, as it surpasses the agreed-upon limit with Ecobank.
This incident highlights the risks and challenges associated with cash transportation and the importance of clear communication and adherence to contracted agreements.
“We wish to remind all customers of their responsibility to work within their contracted limits… and to communicate clearly with us if a cash movement is to be out of the ordinary. This allows us to plan and approach the risks appropriately,” Safeguard CEO Andrew Mallon said in a statement.
He said a US$4 million move “obviously poses a significant risk” and was “well outside any contracted limits for Safeguard and almost certainly the security industry Africa wide.”
Mallon said a failure to communicate an unusual amount of cash being moved “places the safety of our staff, our security teams and your cash at considerable risk.”
“The ZRP is still conducting investigations in connection with the armed robbery incident which occurred in Bulawayo on October 3 at a local financial institution. The police dismisses social media messages indicating that the suspects have been arrested,” police spokesman Commissioner Paul Nyathi said.
“The police will certainly keep the public and media informed on the latest developments in relation to this case.”
