Pro-Mujuru oil tycoon hits hard times

via Pro-Mujuru oil tycoon hits hard times – NewZimbabwe 03 March 2015

ZANU PF-linked businessman, Kuda Tagwirei, has fallen on hard times with workers at his companies reportedly going for months without salaries while financial institutions are hustling him over unpaid loans.

Tagwirei, named as one of the key financiers of ousted Vice President Joice Mujuru’s camp, is battling to pay workers at his Sakunda Energy and has retrenched scores in a bid to cut the wage bill.

Sources close to the developments say Sakunda is reeling from massive debts with some financial institutions reportedly targeting the petroleum company’s assets.

Workers who spoke on condition they were not named fearing victimisation, said the businessman has been spending money on funding the Mujuru camp at their expense.

“The guy is struggling to pay us and those who were retrenched are yet to get their packages,” said an employee.

“It is very sad that while we are not being paid, we see top politicians linked with the Mujuru camp coming here to be given money.”

Sakunda recently sold its service stations to an international energy player, Trafigura, after failing to settle a loan of about $100 million.

Workers said, during the build up to December’s Zanu PF congress, Tagwirei borrowed inputs from Seedco worth $300,000 to curry favour with First Lady Grace Mugabe.

But the gift was rejected due to his perceived links with Mujuru. The workers claim Tagwirei has also failed to pay for the seed.

The businessman refused to comment when approached by NewZimbabwe.com.

“I will not respond to such things, I am very busy,” he said.

Senior Zanu PF and CIO officials have been linked to Sakunda for years with the company has long accused of financing the ruling party.

But the generosity towards Zanu PF, according to the workers, has come at a huge cost to them.

“This problem has been on-going for more than six months now,” said one employee.

“Tagwirei has spent all his money on politicians and he is usually seen at Didymus Mutasa’s Umwingsdale home.

“We don’t know whether he has political ambitions or not but this is now affecting us.”