Did you know this? With its ascent to power in 1980, ZANU PF further developed its business interests within the country, forging significant economic power both within and without the state. The organisations took several forms. Its main investment arm, M & S Syndicate,63 was primarily concerned with the party’s internal interests, focusing on agriculture, property management and investments. The original directors were the spouses of two ZANU lawyers, Amos Chirunda and Simplisius Chihambakwe.64 It was chaired by Emmerson Mnangagwa until 2004 or 2005. It is currently chaired by Gertrude Chikwava who also represents the Zimbabwe Mining Development Corporation (ZMDC) on the board of Canadile Miners (Pvt) Ltd, a joint venture between Core Mining Resources and the ZMDC and one of two companies given access to the Chiadzwa diamond field. M & S Syndicate made most of the party’s investments with shares in Fibrolite Zimbabwe, G North & Son, Jongwe Printing & Publishing Company, Ottawa, Star Travel, Treasure Holdings, and Treger Holdings. The actual shareholdings are complicated by the fact that M & S owns shares in ZANU PF’s other main holding company, the Zimbabwe Development Company, better known as Zidco Holdings, established in 1984 together with Chandra Patel, an uncle of Jayant and Manharlal Joshi, who owned 45% through his UK company, Unicorn Exports & Imports. Zidco Holdings in turn held shares in a range of companies such as F. W. Woolworth & Co Zimbabwe, 65 Oryx Natural Resources, Zidlee Enterprises, Eagle Investments, Zidco Imports & Exports, Catercraft, Jongwe Printing & Publishing Company, Mike Appel Organisation Limited, National Blankets, Oporto Investments, Treger Holdings, and Zidco Motors.
Posted on: Mon, 05 Jan 2015 11:19:07 +0000
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