ENG Capital vs Farai Rwodzi & Interfin Bank Zimbabwe Dispute unpacked (Part 9 of 10)

ENG Capital vs Farai Rwodzi & Interfin Bank Zimbabwe Dispute unpacked (Part 9 of 10)

The illegal takeover of ENG Capital’s Century/CFX Bank subsidiary by General Mujuru and his wife Vice President Mujuru represented by their business front and errandboy Farai Rwodzi must be documented .
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Farai Rwodzi representing General Mujuru and his wife Vice President Mujuru have made it very difficult for other business people to operate in Zimbabwe without being harassed or intimidated or fearing that you business may be seized for one reason or the other using one illegal tactic or the other.

Retired General Mujuru and his wife Vice President Mujru have a wel known repution of grabbing businesses and assets.Firstly they grabbed River Ranch diamond mine ,then grabbed an Agro business and farm in Beatrice and now they grabbed Century/CFX Bank from me and ENG Capital.

Such behavior is totally unbecoming from senior political leaders who should cease and desist from grabbing assets especially banks as this sets a bad precedence and has negative impact on the country’s investment ratings.This simply scares investors when senior political leaders grab businesses and scare the rightful owners into exile.

It is clear that The Mujuru’s and their errand boy and business front Farai Rwodzi must be stopped if the country’s business environment is to become more stable.

In late 2009 When Finance Bank Zambia backed by Credit Suisse attempted to takeover Century /CFX Bank that transaction fell through after ENG Capital alerted Finance Bank and Credit Suisse about the potential reputational risk of acquiring a disputed asset which was fraudulently taken from its rightful owner me and ENG Capital.

Farai Rwodzi as the Mujurus’ business front,errand boy and associate has totally relied on this political muscle as a way to get business transactions done.

It is clear Farai Rwodzi and Interfin Bank Zimbabwe had a hidden agenda when they got involved with CFX Bank against the back ground of a well publicized campaign on the fraudulent conversion of Century Bank into CFX Bank then into Interfin Banking Corporation. This matter is widely documented in side the courts and out side.

The dispute between The Mujurus as represented by their errandboy Farai Rwodzi, Interfin against Gilbert Muponda and ENG Capital could easily have been avoided had Mr Farai Rwodzi and Interfin Bank acted honestly and conducted a standard due diligence before their purported merger with an ENG Capital subsidiary, Century/CFX Bank.

It is clear there was no due diligence done as the Mujurus and Farai Rwodzi rely on political muscle and clout to grab assets and businesses without any regard to the laws and regulations of the country. Clearly they do not care about what investors think or the reputation which the country gets from their greedy and irresponsible actions

When such articles are freely available in the public domain it becomes a puzzling mystery as to why a Senior Lawyer such as Mr Moyo would write an opinion claiming that there was never a challenge to the illegal sale and irregular transfer of the 309 million shares when High Court Case HC-6244-04 is pending before the courts.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is generated for 3MG MEDIA – www.3mgmedia.ca .

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and
www.facebook.com/muponda
Email: [email protected] . Skype ID: gilbert.Muponda
Twitter ; http://twitter.com/gmricapital
Phone: 1-416-841-5542

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