Minister Chasi was fired over Mnangagwa-SB Moyo US$1.2 Billion theft

In May 2019, Mnangagwa ordered then tourism minister Mupfumira to appoint to the EMA board his customary wife Moline Mayahle, sister to Gata’s wife Angeline Mayahle, with whom they have several children. So, Mnangagwa did not EXPECT Chasi to cause Gata’s removal from Zesa!

While Gata was imposed by Mnangagwa to be Zesa’s Executive Chairman & while the imposition wounded him as a minister, Chasi sought to exercise oversight at #Zesa & reign in Gata on corporate governance issues to combat corruption. But his bigger & fatal problem was at #NOIC!

In May 2019 before Chasi was appointed Energy Minister, SOTIC INTERNATIONAL “signed” a 65 page Deal with NOIC for SOTIC to advance a “loan” of USD 1,2 billion to guarantee that there’s always 135 million cubic litres of fuel in the pipeline at Msasa to meet Zim’s fuel needs!

Under the deal, the USD 1,2 billion “loan” would be paid back with interest over a 10 year period in monthly installments of USD 12 million & NOIC assets were mortgaged to secure the “loan”. In effect, by the deal, SOTIC took over NOIC, its assets & ran all its operations!

When Chasi became Energy Minister, the USD 1,2 billion advance payment had been paid, all NOIC assets had been mortgaged as collateral for the advance payment, SOTIC was running NOIC & demanding only forex for the fuel; thus making it unaffordable to the majority of locals!

Without having been briefed on the SOTIC Agreement & thus unaware of its architects & its beneficiaries, @fortunechasi got the deal investigated. Chasi’s investigation found that the deal was comprehensively & shockingly detrimental to the national interest on every score!

Either bravely or naively, after his investigation, @fortunechasi sought an alternative to the SOTIC deal & negotiated it with GLENCORE. But no alternative was possible to implement; without costing SOTIC its USD 12 million a month or refunding the USD 1,2 billion advance!

Criminally, the SOTIC USD 1,2 billion was structured by @MinisterSBMoyo, who got USD 12 million for “structuring it”; and it was sent to #NOIC after it had already been approved by @edmnangagwa, @FinanceZim & @ReserveBankZIM; with USD 1,2 billion paid to PRIVATE ACCOUNTS!

So, @fortunechasi was fired not because of #Zesa affairs but because his conduct in investigating & seeking to cancel the USD 1,2 billion SOTIC deal at NOIC is INCOMPATIBLE with Mnangagwa’s EXPECTATIONS as a beneficiary of the SOTIC deal along with SB Moyo & Kuda Tagwirei!

source: Jonathan Moyo