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Grace Mugabe Resists Returning Externalised Money As The Noose Tightens


Sources close to the goings on at RBZ  have hinted that Grace Mugabe may not be spared from the wrath of the law if she does not return externalized cash by March 2018.  Although Former President Mugabe was retired with full immunity and benefits, it is believed Grace Mugabe ran a parallel syndicate that externalized money most probably without Mugabe’s knowledge.

A source informed us that of particular importance are the transactions that involved Alpha Omega Dairy and Gushungo Holdings. It is believed that the Alpha Omega was extended preferred access to foreign currency at CBZ with the belief that the company was exporting dairy products to regional markets.

There were batches of money transferred outside the country which were justified as market research and operations but to date there are no recorded sales to those regions.


Grace Mugabe is believed to be unwilling to repatriate any of her wealth back into the country fearing forfeiture. She has also purchased a number of properties in Asia with money that was not justified but is believed to be on the radar of the Reserve Bank Of Zimbabwe.

Grace Mugabe is believed to have externalized more than $60 million dollars between 2013 and 2017. It  is unknown if the current President will follow through with his threat if Grace Mugabe does not repatriate her externalised funds by March 2018.

Grace is also believed to have sent out millions of money through are well orchestrated plan that involved her purchasing expensive equipment and jewellery out of the country then demanding a refund before the items were shipped.

One example is the widely reported anniversary ring  case. In 2015, Grace Mugabe placed an order for a 100-carat diamond ring worth $1.35-million to mark her anniversary. She wired the money to her Lebanese dealer  Jamal Hamed through her CBZ account. She then requested a refund but to her account in Dubai. It is believe this was just one of many instances that she successfully moved money out of the country.

President Emmerson Mnangagwa has indicated that he knows the people who externalized cash and will act without fear or favor once his amnesty period expires


Written by How Africa

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