Zimbabwe Revokes Specification Of Mawere, Moxon And Makamba

The three Zimbabwe businessmen.were specified in 2004 and had fled the country to settle in other countries. Mawere and Moxon were living in South Africa while Makamba was believed to be in England.

“It is hereby notified that joint ministers of Home Affairs have in terms of section 6 (2) of the Prevention of Corruption Act Chapter 9:16, revoked the specification of Mr Mutumwa Mawere who was declared as specified under General Notice No. 345 A of 2004 published on 9 July 2004,” said a joint general notice by the co-Home Affairs ministers.

The same letter was also written for Makamba and Moxon.

In 1996, Mawere acquired Zimbabwe’s sole asbestos mining company Shabanie Mashaba Mines (SMM), branching out through all of Zimbabwe’s economy. His rise was accompanied by allegations of improper support by politicians from the ruling Zanu (PF), especially in connection with government guarantees for a US$60 million loan used in the purchase of SMM.  Mawere denied these claims, saying that purchase payments were guaranteed for by a deposit of shares of the mining company instead.

In 2004, Mawere’s business empire came under government scrutiny, and allegations of prejudicing the state of more than Z$300 billion were raised by the authorities. In May, Zimbabwean authorities asked for Mawere’s extradition from South Africa, but failed. Since then, by presidential decree major parts of his businesses came under government control. According to Mawere, his businesses’ funds were used to repay due IMF bonds.

South Africa-based former Kingdom Meikles Africa Limited chairman Moxon remained specified despite a Cabinet directive last October to have him and KMAL companies de-specified.

Moxon was also specified in January last year, over externalisation of US$22,5 million at the height of boardroom squabbles between him and Nigel Chanakira, then KMAL chief executive officer. However, the two managed to resolve their differences, resulting in the Government reviewing Moxon’s specification. The amicable resolution to the dispute saw the smooth de-merger of KMAL and separate listing on the Zimbabwe Stock Exchange of Meikles Africa and Kingdom Financial Holdings.

Makamba, meanwhile, has been living in England since fleeing the country after he was arrested and charged with 22 counts of foreign currency fraud.