Mpofu tells court source of wealth

via Mpofu tells court source of wealth 06 October 2014

OBERT Mpofu, one of Zimbabwe’s richest cabinet ministers, told the High Court Monday that his wealth came from wise investment of a golden handshake he received after leaving a company owned by Zanu PF in the 1980s.

The minister owns a vast real estate portfolio in Harare, Bulawayo and Victoria Falls.

According to the RBZ, Mpofu also paid about US$23 million to take over a struggling commercial bank in 2012 which however, now teeters on the brink of collapse.

Speaking at the High Court in a diamond fraud case in which he is accused of demanding a US$10 million bribe, Mpofu said there was nothing dodgy about the manner in which he accumulated his wealth.

He revealed that he was managing director of the Zanu PF-owned Tregers Holdings in the 1980s and received a healthy pay-off when he left the company.

The cash was, beginning 1989 and over the following years, invested in a property acquisition spree in Bulawayo and Victoria Falls.

“I worked in Government for a few years until 1985 when I joined Tregers as a managing director. Tregers was a big company and I was offered shares in the firm,” Mpofu told the court.

“In 1989, when I left Tregers, I was given a golden handshake, which I used to acquire properties and have never looked back.

“We acquired several properties in the name of a company called Treble and Kays.”

He added: “I am one of the biggest ranchers with 4 000 head of cattle,” he said. “I am also leasing CSC (Cold Storage Commission) farms.”

Mpofu refused to disclose the value of his properties but said he was doing well enough not to need the US$10 million bribe he is said to have demanded from two mining executives accused of fleecing the government of about US$2 billion in a failed diamond mining deal.


  • comment-avatar

    Right! So this political thug has never taken a diamond or a kickback. And we all believe in fairies too…………..

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    Zimbali 8 years ago

    Ask Zimra to check his tax returns and see if they match up with his revenue streams.

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    At least he is honest about his wealth being launched by a zanu golden egg. The obedient son who forgot about his own people. The Hague awaits. Funny enough his thieving father because of age will never see the Hague.

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      tapiwa 8 years ago

      okay he was given a hefty figure, how much was this hefty figure, he got shares (How many, when did he sell, for How much) where did he invest it. I am not being jealous but surely this is a bribery case and he recons he does not need USD10 million after paying USD23 million for a non performing bank thats a joke (I hear a very powerful world president is worth USD12 million). These guys take everyone for a fool and try to insult our intelligence.

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    Mlimo 8 years ago

    I know the Tregers he wouldn’t have received much , anyone believing this should check the sky for flying pigs and stones that gush forth diesel and AIDs doesn’t exist. Zanupf is the clue here – millions distributed of my tax and savings by Mugabe to his henchmen.

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    Justice 8 years ago

    What a genius this guy is turning ten bucks into tens of millions, Chikurubi is waiting!

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    austin 8 years ago

    PhD in fairy tales.

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    revenger avenger 8 years ago

    Why are he and go no chiyangwa kaukonde etc not yet doing hard lab our for fraud and child abuse and tax evasion ???

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    Daniel 8 years ago

    4000 cattle means more or less 20000HA of land.What happened to land redistribution and max 450 HA per person??? He is just another thief.

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    bruce Koffee 8 years ago

    Stolen wealth is all what ZANU PF guys have. How could only ZANU PF guys be rich when they are amongst the poorest in the world.

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    J SWANEPOEL 8 years ago

    well said Daniel …. this fat sudza eater is a parasite at best …. just another thief.

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    bruce Koffee 8 years ago

    Stolen wealth is all what ZANU PF guys have. How could only ZANU PF guys be rich when they are amongst the poorest in the world. Thus robbery. Get bank statements showing the building up of the golden handshake translating into those millions.

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    disturbed 8 years ago

    4000 cattle x 500usd each is just 2 000 000usd its nothing in this accountability case