News24 | US-sanctioned tycoon becomes Zimbabwe’s investment minister

Zimbabwean businessman Kudakwashe Tagwirei in Kwekwe, Zimbabwe, on in July 2018.

Jekesai NJIKIZANA / AFP

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Zimbabwe’s President Emmerson Mnangagwa has appointed a tycoon sanctioned by the US and UK for alleged corruption as the country’s investment minister.

Kudakwashe Tagwirei, a long-time adviser to Mnangagwa, was appointed as minister of economic development and investment promotion, the president said in a statement on Thursday. Mnangagwa split the finance ministry in two to create the position and retained Mthihuli Ncube as minister of finance.

Tagwirei was one of the most vocal backers of Mnangagwa’s successful campaign for a constitutional amendment to extend his term earlier this year. He’s part of a coterie of wealthy businessmen who have drawn closer to the president and benefited from being awarded lucrative state contracts.

READ | Mnangagwa’s rich ally Tagwirei appointed to Senate

Tagwirei, known locally as “queen bee” because of his influence, made his fortune from fuel-supply contracts, the acquisition of mines from the state and state contracts to provide fertiliser and farming equipment to small-scale farmers.

He first entered formal politics when he became a member of the decision-making body of the ruling party last year and gifted 300 luxury vehicles to senior party leaders during this process, according to local media reports. Constantino Chiwenga, Mnangagwa’s vice president and a former military leader, criticised Tagwirei for “buying” his way into the party and criticised 84-year-old Mnangagwa’s bid to extend his term.

Tagwirei was appointed to the senate by Mnangagwa after the constitutional amendment passed in July.

“Tagwirei used a combination of opaque business dealings and his ongoing relationship with President Mnangagwa to grow his business empire dramatically and rake in millions of US dollars,” the US Treasury said in 2020 when it sanctioned him. The UK followed suit a year later.

Tagwirei has denied wrongdoing.

Mnangagwa has also courted other wealthy businessmen, including gold trader Scott Sakupwanya, a ruling party member of parliament. Wicknell Chivayo, who was often seen in the company of Mnangagwa, including in a meeting with South African President Cyril Ramaphosa, died in a helicopter crash last week.