Jozef Clifford Behr : Mana Pools National Park - Zimbabwe
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How to hide a mining giant in plain sight ?
Everyone involved around Kuvimba has been keen to make one big point; businessman Kuda Tagwirei is not involved in the company. "Tagwireyi is not involved at all; we did our due diligence," Ncube says. "All the entities in the 65% are state-owned." Government claims that its contribution of assets accounts for the 65% in Kuvimba. However, this would suggest a valuation of all the assets has been done to give the split. There has been no such valuation. It is easy to see why officials are so desperate to remove Kuvimba from Tagwirei. He is on the US sanctions list and any association with Kuvimba reduces the company's ability to raise capital. Tagwirei himself would prefer his companies not to be attributed to him. However, it is difficult to place Tagwirei too far away from these companies. With no full disclosure, Kuvimba appears to be an elaborate scheme designed to protect both the interests of the state and Tagwirei himself. This would be a remarkable role ...
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