President Mnangagwa, SB Moyo in USD1.2 billion fuel loot
HARARE, Zimbabwe. (News of the South)- Former Cabinet Minister Professor Jonathan Moyo has sensationally reveled via Twitter that President Mnangagwa and Minister S. B Moyo allegedly looted millions of USD through a shady USD1.2 billion fuel deal.
According to Professor Moyo, former Energy Minister Chasi was fired by President Mnangagwa because, he (Chasi) was scuttling the appointing authority from looting from the Energy Ministry.
” In May 2019 before Chasi was appointed Energy Minister, SOTIC INTERNATIONAL “signed” a 65 page Deal with NOIC for SOTIC to advance a “loan” of USD 1,2 billion to guarantee that there’s always 135 million cubic litres of fuel in the pipeline at Msasa to meet Zim’s fuel needs,” Moyo alleged.
” Under the deal, the USD 1,2 billion “loan” would be paid back with interest over a 10 year period in monthly installments of USD 12 million & NOIC assets were mortgaged to secure the “loan”. In effect, by the deal, SOTIC tookover NOIC, its assets & ran all its operations!
“When Chasi became Energy Minister, the USD 1,2 billion advance payment had been paid, all NOIC assets had been mortgaged as collateral for the advance payment, SOTIC was running NOIC & demanding only forex for the fuel; thus making it unaffordable to the majority of locals!
“Without having been briefed on the SOTIC Agreement & thus unaware of its architects & its beneficiaries, @fortunechasi got the deal investigated. Chasi’s investigation found that the deal was comprehensively & shockingly detrimental to the national interest on every score!
“Either bravely or naively, after his investigation, @fortunechasi sought an alternative to the SOTIC deal & negotiated it with GLENCORE. But no alternative was possible to implement; without costing SOTIC its USD 12 million a month or refunding the USD 1,2 billion advance!
“Criminally, the SOTIC USD 1,2 billion was structured by @MinisterSBMoyo, who got USD 12 million for “structuring it”; and it was sent to #NOIC after it had already been approved by @edmnangagwa, @FinanceZim & @ReserveBankZIM; with USD 1,2 billion paid to PRIVATE ACCOUNTS!
” So, @fortunechasi was fired not because of #Zesa affairs but because his conduct in investigating & seeking to cancel the USD 1,2 billion SOTIC deal at NOIC is INCOMPATIBLE with Mnangagwa’s EXPECTATIONS as a beneficiary of the SOTIC deal along with SB Moyo & Kuda Tagwirei,” Moyo tweeted.
Moyo also claims that Mnangagwa treats cabinet ministers as puppets who should not initiate programs but get orders from him which clashed with Chasi who wanted autonomy.
Chasi was fired yesterday for troubling Gata who was imposed by President Mnangagwa despite that Chasi as responsible minister was playing his oversight role to make sure that corporate governance was adhered to and stamping out corruption.
Gata and President Mnangagwa are allegedly both notorious polygamists married to the Mayahle sisters from Chipinge, Angeline to Gata and the president to Moline.
President Mnangagwa was therefore allegedly riled by Chasi when he suspended and caused investigation of Gata as well as NOIC fuel scam.
Moyo alleges that President Mnangagwa ordered former Tourism Minister Mupfumira to appoint his customary wife Moline Mayahle to the Environmental Management Board in May 2019.
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