Thread by @nickpdonovan

Zimbabwe: Vice President Chiwenga's 'de facto investment manager' is revealed as involved in a second massive mining deal: this time platinum.

Lishon Chipango is a director of two of Chiwenga's property holding companies, including the firm that owned Chiwenga's mansion. 🧵

2/ In 2017 Chipango was director of a firm, alongside someone reported to be Chiwenga's niece, that rcvd $2m from African Chrome Fields (ACF) after a chrome deal in which Kudakwashe Tagwirei's firm Sakunda paid Zunaid Moti's firms $120m for 30% of ACF.

https://twitter.com/TheSentry_Org/status/1651937947032363009?s=20

3/ Today Chipango is revealed as the nominee shareholder for Pen East Mining, a military company that owned half of Great Dyke Investments (GDI), a massive platinum project.

Read the whole article here:

africa-confidential.com/article/id/145…

4/ This is the second time Chipango pops up in a massive deal featuring millions paid by Tagwirei.

5/ In 2019 Tagwirei's firm Landela agreed to pay US$220m over 10 years to Pen East for its 50% stake in GDI.

Pen East controlled by SB Moyo & Defence secretary Martin Rushwaya: It isn't clear whether Chipango is a nominee shareholder for the military, or Chiwenga, or both.

6/ Later, Landela's assets including its shares in GDI are transferred into a new public-private partnership called Kuvimba Mining House (and the the Russian co-investors, who owned the other 50%, drop out) - so now Kuvimba owns 100% of GDI.

7/ So, if Kuvimba inherited Landela's assets, did it also inherit Landela's liabilities - the commitment to pay Pen East Mining $220 million over 10 years - or not?

It's important because, if so, then payments into Kuvimba could eventually go into the military via Pen East.

8/ For example, there was an attempt to rush a $400m sale of 33% of GDI shares to the state owned Zimbabwe Consolidated Diamond Company, as revealed by ZimInd & NewsDay. A non-refundable US$111m would have been paid to Kuvimba before any due diligence on GDI or Kuvimba!

Curious.

9/ Pen East Mining and Kuvimba's corporate records are missing from the corporate registry. Moti denies any wrongdoing; Kuvimba, Pen East, Landela, Tagwirei, Chakuinga & Chiwenga didn't respond to requests for comment; Chipango declined to comment.

10/
Read more about Chipango (and Moti's side of the story) here:



and in today's Africa Confidential:

https://t.co/Y48iBQKADB

ENDSthesentry.org/reports/spinca…
africa-confidential.com/article/id/145…