Enock Kamushinda gatecrashes NRZ party

Enock Kamushinda gatecrashes NRZ party
Enock Kamushinda

Enock Kamushinda

CABINET ministers took their fight over the $400 million National Railways of Zimbabwe (NRZ) recapitalisation deal to Zimbabwe’s bilateral economic talks with South Africa early this month, amid indications businessman Enock Kamushinda is leading a spirited rival bid for the project.
A consortium of non-resident Zimbabwean professionals, the Diaspora Infrastructure Development Group (DIDG), in partnership with South Africa’s Transnet, won the tender to revive the ailing state-owned rail company last month. However, Cabinet has withheld approval for the deal, following opposition led by ministers Supa Mandiwanzira, Obert Mpofu and Prisca Mupfumira, who was dropped in a reshuffle this week.
Multiple sources told The Financial Gazette this week that preparatory meetings ahead of last week’s Bi-National Commission summit led by President Robert Mugabe and his South African counterpart Jacob Zuma got bogged down in a heated discussion over the inclusion of the NRZ-DIDG-Transnet transaction on the agenda.
“If you recall, there were five agreements whose signing was overseen by the presidents during the bi-national commission. The NRZ recapitalisation project was supposed to be the sixth, but it was struck off after fierce opposition from ministers Chombo and Mupfumira,” one source said.
Another source said DIDG has now written to Mugabe in a bid to salvage the NRZ transaction.
The consortium has also been reconfigured to include a 10 percent shareholding to be held under the National Indigenisation and Economic Empowerment Fund (NIEEF).
DIDG, which currently has over 500 members, plans to raise $1 billion annually from about 1 million non-resident Zimbabweans for investment into the country. The group has managed to raise $1 billion for the NRZ transaction from four South African financiers.
Meanwhile, Kamushinda, whose bid is reported to enjoy the support of newly appointed Finance Minister Chombo and Mandiwanzira, among others, is reported to be pushing for a memorandum of understanding on the NRZ recapitalisation, which he hopes to use to unlock funding from unnamed Dubai financiers.
“Since the NRZ deal was pronounced dead, Kamushinda and his associates have been pushing. But NRZ is unnerved by the prospect of a lawsuit if the tender award is cancelled,” another source said.
Kamushinda was non-committal when contacted for comment.
“When I was young, I  used to enjoy speaking to the press about my pending business deals,” told The Financial Gazette yesterday. 
newsdesk@fingaz.co.zw

  • Wilson Magaya

    “Nyika Vanhu, Musha Matare” ….The success of the many will move Zimbabwe forward. The DIDG is exemplary of what future investment in Zimbabwe should look like. Not only is it bringing many Zimbabweans together to contribute to building our beloved country, but it is also putting Zimbabweans in the driving seat in rebuilding our Beloved Zimbabwe. How do the interests of one trounce those of many and why? Maybe I miss something fundamental here but, I have seen and heard many times efforts by Government to engage the Diaspora. I thought that Cabinet would have jumped at an opportunity to engage the huge Zimbabwe diaspora by ensuring that this project comes to fruition. I maybe be misquoting, but like NoViolet Bulawayo said, “We need New Names”

    • Lloyd

      I believe those opposed to the DIDG just want a piece of the cake without paying even a single cent. Shame on them. That’s what has stifled investment from both Zimbabweans or foreigners. Some people want to be there for nothing. Remember the Telecel saga where someone wrote a dishonoured cheque but wanted to be a shareholder?

  • Patrick Ushe

    Someone is benefiting from this deal. Minister of ICT please tell us who is it.

  • mabwe

    This Kamushinda thief will have his day in court. I understand he recently stole huge sums of money from the Namibian government

  • Cathy Chipunza

    Prisca Mupfumira, will soon spill the beans now that she has been dropped in a reshuffle. Its only a matter of time

  • James Ruzive

    Kamushinda is Supa’s close friend by the way. “Oh I see says this blind man”

  • David Chipenda

    Why is the Diaspora Infrastructure Development Group quite?

    • Bob Zim

      They are busy waiting tables lol

  • Farai

    Supa is making a lot of noise about this articles on twitter, @FingazLive abatwa batwa he sure knows something. Regai tione

  • Farai

    Hanziiko na Collins not so Supa Mandiwanziwa

  • Big Mike

    Just laughing at how Supa is being attacked over his comments regarding this story on Twitter. Sometime its good not to thrown stones when you stay in a glass house. @FingazLive is on fire Supa being attacked by readers

  • Mambo we kwaZvima

    History has it that everything Enock Kamushinda touches goes under, not a very clean chap.

Connect With Us

Fingaz Polls

Can Emmerson Mnangagwa revive Zimbabwe's economy?