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Mugabe’s Son, Chatunga Mugabe Causes Crackdown In Bank!!

Under pressure from President Robert Mugabe’s family and the Reserve Bank of Zimbabwe over a recent news article in the Zimbabwe Independent, senior management at BancABC has launched a crackdown on junior employees to weed out what is suspected to be a mole.

 On September 30, the Independent revealed that Mugabe’s son Bellarmine Chatunga had been denied a US$380 000 loan by the bank as he was regarded a political risk.

However, it has since emerged that it was Robert Mugabe Junior, Chatunga’s older brother, who approached BancABC and had a meeting with bank official Lincoln Chirinda.

This week, employees at the bank revealed that the financial institution investigated 60 workers in a manhunt to establish who was purportedly leaking information.

The bank was galvanised into action after Chatunga wrote a letter to RBZ governor John Mangudya on October 4 to formally complain against BancABC and Chirinda.Chatunga felt that BancABC and Chirinda were complicit in the story by virtue of their failure to distance themselves from the story.


“I am seeking for redress from the Reserve Bank of Zimbabweas regulatory authority for banks in Zimbabwe in addition to any other legal rights which I am entitled to by operation of the law,” wrote Chatunga.

On October 5, acting RBZ governor Charity Dhliwayo responded to Chatunga, revealing the central bank had engaged BancABC to express its concern on the matter.

“The banking institution will be charged with breaching section 76 of the Banking Act (Chapter 24:20). The breach attracts a penalty of level 6. We have advised the banking institution of our intention to proceed to levy the penalty in terms of the due process,” wrote Dhliwayo.

She said the RBZ had also directed BancABC to conduct a thorough investigation to determine how the confidential information leaked to the Zimbabwe Independent as well as assess the moral blameworthiness of BancABC employees.

The bank was instructed to provide a detailed report to the RBZ within two weeks from the date of Dhliwayo’s letter, after which appropriate supervisory action would be taken.

Chirinda, in his report to the RBZ dated August 5 2016, said he held a meeting with “three gentlemen” including Robert Mugabe Junior who had visited BancABC enquiring on the mechanics of grain importation.



Written by How Africa

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