How Obert Mpofu Acquired His Wealth – Bulawayo24 Columnist

Speculation has been rife over the years over Obert Mpofu’s wealth. A columnist from Bulawayo 24 News has taken it upon himself to research and publish his findings on how Cde Mpofu allegedly acquired his wealth. According to Nicholas Ncube here is an account of how Cde Obert Mpofu acquired his wealth:

FACT 1 : Obert Mpofu has been working and acquiring wealth from as early as the 1980s and that wealth has been carefully managed to give returns thus growing the Mpofu asset portfolio. In 1985 Obert Mpofu was managing director of Treger’s where he had shares and clearly overtime those appreciate in value .

FACT 2 : Obert Mpofu has been a whistle blower who has exposed corruption even before people started talking about corruption and for that he received a golden handshake he from the government as a whistleblower over the Willowgate Scandal in the late 1980s.

FACT 3 : Obert Mpofu has been in the government since 1980. He was a minister until 1985. He then left and joined Treger’s as MD (managing director) from 1985 to 1989. He then left and started his own business. On the Sandura Commission issue, he was given a golden handshake and he started acquiring properties, since then he has never looked back. All this happened before he was minister of mines where people claim he stole diamond money to build his empire.

FACT 4 :  Obert Mpofu owns two properties in Harare, number 2501 Greystone Park and 644 Borrowdale Brook. He also owns York House in Bulawayo and another building along 9th Street, and in Victoria Falls he only has a warehouse and residential properties for employees, which do not equate to even a tenth of Victoria Falls yet some Johnny know it all will claim Mpofu owns half of Vic Falls.

FACT 5 : The most expensive property owned by Obert Mpofu is York house which he acquired in 1998 long before his tenure as minister mines.

FACT 6 : Obert Mpofu is a successful farmer. Like Father Zimbabwe once said if you want money go into farming. Obert Mpofu is  one of the biggest cattle ranchers in the country with over 4 000 cattle. He leases ranches from Cold Storage Commission. Any decent human being knows that if you invest in cattle they multiply and if Obert Mpofu began investing in cattle in the 1980s his herd should be sizeable by now and that’s a fact you cannot argue with.

FACT 7:  Allied Bank was not the first financial services business owned by Obert Mpofu. Mpofu operated a business called Trebo and Kays and once owned a bureau-de-change in the 1990s, which he later sold to CFX. Now according to Lovemore Kurotwi Obert Mpofu had a hand in the disappearance of diamonds worth 140 million. If Obert Mpofu had that much money Allied Bank would not collapse as it needed 100 million to keep its doors open. The other fact around the ZABG – Allied Bank transaction is that it was not a cash deal. It was a property based deal. Zimbabwe only caught wind of half the story and added spice to the rest to suit a narrative which says Mpofu stole our diamonds.

More: Bulawayo 24 News


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Willowgate Scandal

The Willowgate Scandal was a 1988 scandal in Zimbabwe that rocked the country following the exposure by The Chronicle of government officials who were given preference in buying vehicles at the Willowvale Motor Industries at discounted prices and re-selling them at very inflated prices. It... Read More About Willowgate Scandal

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