Zim Already Mortgaged To Sakunda Holdings: George Charamba

Presidential spokesperson George Charamba said the country had no option but enter into an agreement with Sakunda Holdings for the later to supply 100 million litres of fuel to be paid for after 12 months. Government reportedly began negotiations with Sakunda so that it will eventually provide 1,8 billion litres of fuel over an 18 month period. Charamba said

We are already mortgaged and if it was not Sakunda, it was going to be another company. As long as you are not an oil-producing country you are already mortgaged anyway and what is the point? Don’t get caught up with the politics that who are you indebted to because that is a foolish argument.

The point is you cannot avoid being indebted because you don’t have the product. What we have is a line of credit and Zimbabwe has been for a long time on a cash budget and very few friends will be able to give you a line of credit as has happened with Sakunda. We must say Hallelujah, fuel is an unavoidable expenditure.

More: The Standard

Sakunda Holdings

Sakunda Holdings is a privately owned Zimbabwean company governed by the laws of Zimbabwe and its Memorandum of Association and Articles of Incorporation. It has three distinct operating divisions namely Sakunda Energy, Sakunda Trading and Sakunda Logistics. Read More About Sakunda Holdings

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One Comment on “Zim Already Mortgaged To Sakunda Holdings: George Charamba

  1. The challenge for industrialization and neutralization of monopolies on key economic sectors by private holders is very urgent and infact has remained so since independence but the government then took much interest in immaterial issues which cost Zimbabweans a whole well sophisticated economy from the colonial phase. There is need to revert to the now enhanced/updated 1980 inclusive economic development model but adopted and implemented with a Zimbabwean African spirit. Mortgaging a national economy is just as disastrous a quagmire.

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