Mutumwa Mawere
From Wikipedia, the free encyclopedia
Mutumwa Mawere (born 1960) is a Zimbabwean businessman with interests in mining, manufacturing and agro industries, financial services (banking and insurance), telecommunications, publishing, investment holdings, transport and logistics, and international trading, among others.
Mawere gained experience in the World Bank, where he rose to become a Senior Investment Officer with the International Finance Corporation.
In 1996, he 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 $60 million loan used in the purchase of SMM.
In 2004, Mawere's business empire came under government scrutiny, and allegations of prejudicing the state of more than $300 billion were raised by the authorities. In May, Zimbabwean authorities asked for Mawere's extradition from South Africa, but failed. Since then, his businesses began to collapse, and by presidential decree, major parts came under government control, to be sold to allies of President Robert Mugabe.
Mawere now resides in South Africa.
[edit] References
- Mawere's 2004 troubles in The Financial Gazette
- Zimdaily article on Mawere empire sellout
