admin
Farirai Machivenyika Harare Bureau
HURUNGWE West National Assembly representative, Cde Temba Mliswa (Zanu-PF), on Tuesday challenged Cabinet ministers to declare their businesses and explain how they got millions of dollars to establish them when the country’s economy is underperforming.In apparent reference to Transport and Infrastructure Development Minister Obert Mpofu, Mliswa demanded ministers to declare how they bought huge assets such as banks.
Dr Mpofu, who was Mines and Mining Development Minister at the time, bought the then Zimbabwe Allied Bank Group in 2012 for $22,8 million to become the major shareholder in what was renamed Allied Bank.
He acquired the majority stake in the bank through his family-owned investment vehicle, Trebo and Khays. Mliswa said ministers who wanted to venture into full-time business should resign from government.
The MP said this while contributing to a debate moved by Kambuzuma legislator Willas Madzimure (MDC-T), calling on government to take decisive action against corruption.
Said Mliswa: “In an economy like this, it’s sad that a minister would actually buy a bank. My plea to the honourable ministers is that when they think about going into business, they must resign before His Excellency (President Mugabe) and do business.
“It’s important that we understand that. There’s no way that somebody can buy a bank in this economic environment that we have. We need to look into it and do something.”
ZABG was formed from the amalgamation of a number of failed banks following the banking crisis of 2003 to 2005.
Mpofu availed $22,8 million to capitalise the bank when it was struggling to meet the $12,5 million capitalisation requirements set for commercial banks by the Reserve Bank of Zimbabwe.
Mliswa added that ministers must also be required to declare their wealth and interests before taking up their appointments.
“Ministers must be asked to declare their wealth before they are given their jobs so that people understand what you actually went in with and what you came out with. For as long as that does not happen, we will have situations where ministers constantly are at the forefront of being corrupt,” he added.
Apart from owning a bank, Mpofu’s investment portfolio includes farming, security, media, tourism and hospitality assets.
He owns several properties in Victoria Falls and Bulawayo where one of the tallest buildings, York House, is under his name.
Online Reporter