FORMER opposition politician Eddie Cross has come to the defence of Zanu PF-linked business mogul Kudakwashe Tagwirei, declaring the billionaire amassed his wealth through legal means.
Tagwirei’s wealth was catapulted by investments into Zimbabwe’s fuel sector alongside various investments in mining.
He was, however, forced out of fuel company Sakunda Holdings by global giants Trafigura in what was reported to be a multi-billion dollar deal.
His relationship with ruling Zanu PF party has seen him being placed on America’s sanctions list.
Cross on the other hand was a member of late democracy icon Morgan Tsvangirai’s leadership structure in the fading Movement for Democratic Change (MDC).
“Tagwirei is no longer Queen B. It was not political connections that made him rich, he owned one of the biggest companies in Zimbabwe before Trafigura bought him out, made him a director and trebbled the size of the business as they are the third largest trading company in the world.
“It was under Trafigura that he made very substantial money and he is still a wealthy man.”
Tagwirei is reportedly trading off shares in most of his companies, with reports indicating that his control of mining giant Kuvimba has been taken over by government.
Kuvimba is involved in platinum, lithium and gold mining.
The entity was put under the State Sovereign Wealth Fund to allegedly end speculation about its ownership.
“He is a self made billionaire and it is his own money. These are Zimbabwe’s success stories,” added Cross.
Cross, a former Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee member, is known to have heavily fought Tagwirei’s moves to construct a second fuel pipeline from Beira.
Tagwirei has in the past been viewed as the real power behind President Emmerson Mnangagwa’s continued hold on power hence the moniker Queen B.
Unconfirmed reports have linked him with government’s Command Agriculture scheme wherein farmers were provided with seed, fertiliser and other necessities in return for part of eventual yields.
Source NewZimbabwe
