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Kuda Tagwirei-owned Company In Shady ZUPCO Bus Deal - REPORT

4 years agoSat, 28 Mar 2020 07:50:44 GMT
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Kuda Tagwirei-owned Company In Shady ZUPCO Bus Deal - REPORT

Kuda Tagwirei, a businessman and an advisor to President Emmerson Mnangagwa, has reportedly imported Zupco buses through his investment vehicle Landela Investments in a shady arrangement with the government.

A report by The Independent claims that Landela was one of five companies whose accounts were frozen by the Reserve Bank of Zimbabwe (RBZ) in September 2019 before the suspension was lifted in unclear circumstances.

Landela, and not the government, is said to be behind the procurement of 125 buses for Zupco’s public transportation system.

The buses were acquired by Landela and bonded at the FAW warehouse in Msasa due to outstanding import duty.

According to The Independent, there was correspondence between the Zimbabwe Revenue Authority (Zimra) and Massbreed Investments (Pvt) Ltd, which trades as FAW Zimbabwe, the company that procured the buses on behalf of Landela confirming the deal.

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A letter by FAW director Kuda Muzvongi to the Zimra controller dated March 2, 2020, read:

We are aware that the vehicles are to be warehoused in our bonded warehouse in conformity with the Customs and Excise Regulations Section 69:2A regarding the operation of bonded warehouses.

Undertake to return signed proprietor’s report (Form 26), acknowledgement receipt of goods together with any discrepancies within five days of the date of the entry to the proper officer at the warehousing port.

Landela reportedly paid only 20% for the imported buses with the 80% balance payable a year after delivery.

More: The Independent

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