Grace Mugabe’s jet fuel facilitated by Econet.
As complaints grew on Strive Masiyiwa’s Econet Wireless company that it is illegally raking away credit from customers, the company has been caught on the wrong side of ethics amid revelations that it has forked out millions of dollars to Robert Mugabe’s administration effectively financing outrageous expenses which include First Lady Grace Mugabe’s trips.
Details the company has evidently acknowledged have revealed that Econet ethically compromised public funds by financing for Mugabe’s broke administration all under the route of paying for civil servants salaries. By default that money facilitated for Grace Mugabe and her husband Robert’s said “never ending” foreign trips.
Another case exists where the company also dished out millions to businessman, Phillip Chiyangwa who was exposed for trying to settle the loan with residential stands.
A record 30Millon Dollars was offloaded by the company to finance government salaries at a time when Mugabe was battling to sustain government operations. This was done in the form of a loan to the State in a deal the company facing embarrassment, decided to raid journalists at The Source agency who conducted the investigation.
Econet, and by extension its subsidiaries are a public company, who take and deal in public money and investments, what they do with that money is a matter of public interest. They had an opportunity to respond on both stories, they responded on one, providing more details and refused to exercise their right of response on the other. This the public who have shares in and trade with the company, have a right to know the truth.
The company evidently arm twisted High Court Justice Joseph Musakwa to issue an order for it, the first ever in the history of Zimbabwe, to raid the journalists.
The order also forced the online news agency to delete from its servers the articles in question.
But as this journo republishes Econet’s the two articles, calls have increased for the company to apologise for its constitutional violations.
32 Replies to “Econet Charges the Poor Millions and Finances Grace Mugabe’s Foreign Trips |ANALYSIS”
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idiot you dont know what you are saying. How many people bank and transact with ecocash, is it not their money what is private about that
Ecocash operates like a bank, if they are holding on to public deposits it becomes a matter of public interests, its clear you did not go to school
TAURA HAKO WENA
TAURA HAKO WENA
so yes it should disclose issues that may affect people who are invested
whats wrong with helping out giovt pay civil servants salaries? Econet is a Public Company not private. It is listed
so yes it should disclose issues that may affect people who are invested
whats wrong with helping out giovt pay civil servants salaries? Econet is a Public Company not private. It is listed
Econet also supports Zim university students through scholarships, perhaps the only company still doing that in Zimbabwe.
Econet also supports Zim university students through scholarships, perhaps the only company still doing that in Zimbabwe.
If indeed they did it bet it was under duress. No ways!
If indeed they did it bet it was under duress. No ways!
aya ndomatuzvi e journalism, its his money and how does it become public funds. If it was used to pay for civil servants zvakaipei? You wanted econet to pay you the homosexuals, no, no. Strive is a christian, he won’t pay people who aim the wrong hole.
aya ndomatuzvi e journalism, its his money and how does it become public funds. If it was used to pay for civil servants zvakaipei? You wanted econet to pay you the homosexuals, no, no. Strive is a christian, he won’t pay people who aim the wrong hole.
econet its a private company , it does not use public funds, go back to xool
econet its a private company , it does not use public funds, go back to xool
If there was nothing wrong in what econet did in borrowing the money to the government why did they go and raid those offices. What are they hiding they think this news company must not publish.why the secrecy. And also if they gave the government the money and civil servants haven’t been paid it means the money went to finance disgrace and her first family on their month long vacation then. Don’t. You all think that’s why these reporters are reporting it because the government owes this company and where did the money go, definitely not to fix our water pipes or our roads.
If there was nothing wrong in what econet did in borrowing the money to the government why did they go and raid those offices. What are they hiding they think this news company must not publish.why the secrecy. And also if they gave the government the money and civil servants haven’t been paid it means the money went to finance disgrace and her first family on their month long vacation then. Don’t. You all think that’s why these reporters are reporting it because the government owes this company and where did the money go, definitely not to fix our water pipes or our roads.
If you don’t have anything to write please don’t waste our time.
If you don’t have anything to write please don’t waste our time.
This article does not tell us how Econet financed the Mugabes, the reporter is hitting all over we cant understand how Econet came to lend the Gvt 30 million was it through treasury bills ,hard cash or Shares of some sort but if Econet did this to benefit from the gvt then that’s what we call business cause every one is doing it what more mining companies who pledged community development funds just to get mining licenses and concessions.AHHH guys lets give Econet a break!!!!!!
This article does not tell us how Econet financed the Mugabes, the reporter is hitting all over we cant understand how Econet came to lend the Gvt 30 million was it through treasury bills ,hard cash or Shares of some sort but if Econet did this to benefit from the gvt then that’s what we call business cause every one is doing it what more mining companies who pledged community development funds just to get mining licenses and concessions.AHHH guys lets give Econet a break!!!!!!
To some, the real crime for Econet is its success. They wish its like other failed businesses. What were you going to say if it was now like TeleAccess? Do you even know TeleAccess?
To some, the real crime for Econet is its success. They wish its like other failed businesses. What were you going to say if it was now like TeleAccess? Do you even know TeleAccess?
If Econet helped with 30 million to pay civil servants so where does Hrace Mugabe comes in?? This is utter rubbish, and twisted journalism. So if Zimeye cannot pay workers and ask for help is it a crime? Waida kuti vana vemateacher vafe nenzara?
If Econet helped with 30 million to pay civil servants so where does Hrace Mugabe comes in?? This is utter rubbish, and twisted journalism. So if Zimeye cannot pay workers and ask for help is it a crime? Waida kuti vana vemateacher vafe nenzara?
Hidden agenda, Econet is one of the few successful Zimbabwean companies. Stop trying to take over the company through the back door.
Hidden agenda, Econet is one of the few successful Zimbabwean companies. Stop trying to take over the company through the back door.
It is illegal for public companies to benefit private individuals. If they do so they must declare what they did and why. eg commercial loan.
It is illegal for public companies to benefit private individuals. If they do so they must declare what they did and why. eg commercial loan.
If all this is true I am absolutely disgusted. Is there not one shred of honour, honesty and integrity left in Zimbabwe. Everything but everything has become tainted by the Mugabe and ZPF poison. Every business, nearly every church???? It is time we extricated ourselves, with God’s mercy and help from this dark and evil system. And what is even worse is Strive, church leaders, political leaders and business leaders call themselves by Christ’s name. What a bunch of hypocrits and false leaders. No wonder Zimbabwe is a cursed nation! “Because from the least of them even to the greatest of them, everyone is given to covetousness. And from the prophet even to the priest everyone deals falsely.” Jeremiah 6;13 May God in His mercy lead this nation and into repentance and may He raise up a man to lead Zimbabwe: someone after His own heart if there is such a person in this sinful nation! Repent Zimbabwe! Otherwise we are doomed!
If all this is true I am absolutely disgusted. Is there not one shred of honour, honesty and integrity left in Zimbabwe. Everything but everything has become tainted by the Mugabe and ZPF poison. Every business, nearly every church???? It is time we extricated ourselves, with God’s mercy and help from this dark and evil system. And what is even worse is Strive, church leaders, political leaders and business leaders call themselves by Christ’s name. What a bunch of hypocrits and false leaders. No wonder Zimbabwe is a cursed nation! “Because from the least of them even to the greatest of them, everyone is given to covetousness. And from the prophet even to the priest everyone deals falsely.” Jeremiah 6;13 May God in His mercy lead this nation and into repentance and may He raise up a man to lead Zimbabwe: someone after His own heart if there is such a person in this sinful nation! Repent Zimbabwe! Otherwise we are doomed!