Categories: Zim Latest

Grace Mugabe’s empire collapses

Former first lady Grace Mugabe’s empire is teetering on the brink of collapse following reports that she is reeling in debt and teachers at her Mazowe academy are leaving en masse because of poor salaries, Zim Morning Post has learnt.

Affectionately known as Gucci Grace, the former first lady has a  penchant for luxurious things and abused office to acquire her wealth.

Zim Morning Post understands that staffers at her Mazowe campus are leaving en masse because of lack of incentives they used to enjoy during her husband’s time as president.

Grace allegedly  abused power to be granted  a loan from CBZ bank without collateral putting her on the top of the list of  bad debtors with a debt of US$4.5 million.

CBZ has engaged Biti and Associates to institute litigation with view of recovering the money.

Alpha and Omega’s supply rate has decreased, vendors who used to sell their yoghurts, ice creams and milk have seized.

Grace has been struggling to keep her  companies afloat in the face of a festering economic tsunami, which they aided and abetted while still enjoying the trappings of power.

Her flagship enterprise, Alpha Omega Dairy, which used to scoop dubious accolades during exhibitions at the height of Mugabe’s power, is operating well below capacity. It recently auctioned several of its properties including vehicles and farm equipment.

At some point  Grace was ordered to pay $278 304 to Manase and Manase Legal Practitioners for representing her in a botched $1,4 million diamond ring deal.

The law firm claimed that after it represented the former first lady for two years, Grace did not pay the legal fees.

Their legal woes started soon after the soft coup in November 2017, which saw several of their allies, including their nephew Patrick Zhuwao, going into self-imposed exile.

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