Pindula
Register Login

Matinyarare Says Kuda Tagwirei Built His Business Empire From Retrenchment Package

Matinyarare Says Kuda Tagwirei Built His Business Empire From Retrenchment Package

South Africa-based Zimbabwean anti-sanctions campaigner, Rutendo Matinyarare, has said business mogul, Kudakwashe Tagwirei, made his empire from his retrenchment package in the early 2000s.

Matinyarare, the chairperson of the Zimbabweans Unite Against US War Sanctions (ZUAUWS), which is lobbying for the removal of sanctions against Zimbabwe, said the growth of Tagwireyi’s vast business empire could also be credited to his wife, Sandra, a former top bank executive.

Sandra and Kuda combined their names to name their company Sakunda.

Matinyangare speaks as Tagwirei and his Sakunda company are being accused of corruption characterised by winning government tenders without going to tender.

Critics accuse Tagwirei of capitalising on his closeness to the ruling ZANU PF elite to build his business empire. Tagwirei has been placed on the US and UK sanctions lists because of his alleged links with the Presidium.

Matinyarare claimed that Tagwirei’s business-life story started in early 2000 after his retrenchment and at a time when the country was facing its worst fuel crisis. Matinyarare said in a long thread about Tagwirei’s business background:

After Kuda got his retrenchment package, he combined with his wife to create Sakunda which is a neologism of Sandra and Kuda. They then went on to apply for a fuel trading licence and sadly, that year (2002), only 149 fuel licences were issued by the government and Sakunda missed out.

Instead of despairing, Sandra and Kuda leased a fuel licence from one of the connected people who had been licensed. In their first six months, they got a contract to supply US$500 000 worth of fuel per month to some entity, but they didn’t have the money.

They subsequently approached Sandra’s former boss, John Mangudya (then commercial head at a leading bank), and were advised to mortgage their house for the loan. They did just that, and after getting the loan, they began pushing half a million dollars’ worth of fuel every month.

Matinyarare does not say who awarded Kuda and Sandra a tender to supply US$500 000 worth of fuel and how they were awarded the tender for which they had no capacity.

The whole article is premised on Sandra making Kuda a billionaire but it does not say what she actually did beyond having been employed by the CBZ where they got the US$500 000 for the tender.

According to Matinyarare, Sakunda started pushing 20 million litres of fuel per month into the market, becoming the largest fuel supplier by 2012, attracting the attention of the government. Added Matinyarare:

After some background checks by the intelligence, the government approached Sakunda and offered it a share of the Beira pipeline because the government had no money or capacity to carry the 60 million litres of fuel it was contracted to carry, thus it was losing money in fees for unused pipeline capacity.

Sandra and Kuda took a gamble by investing in sending fuel down a pipeline, even though they had dozens of trucks. This drastically reduced their fuel costs and increased their margins exponentially over competitors.

He added that Kuda and Sandra made lots of money and grew wealth, “By innovating, learning, creating global relationships, taking risks, outsmarting the competition, keeping cash-in-hand to integrate (vertically and horizontally) the value chain, being willing to invest their money in projects like the pipeline and reinvesting their profits in the same country for years without splashing out on luxuries.”

He suggests that Kuda and Sandra are now being “demonised and called a monopoly for being smart, patriotic and innovative.”

More: Pindula News


Share Article

Sponsored

More

26 Comments

munorwei 2 months ago

kurwaisimba vakayi ma empire enyuwo.ibaiwo apa kwete kuzviita ma analyst imi riri good guru


munorwei 2 months ago

kurwaisimba vakayi ma empire enyuwo.ibaiwo apa kwete kuzviita ma analyst imi riri good guru


munorwei 2 months ago

kurwaisimba vakayi ma empire enyuwo.ibaiwo apa kwete kuzviita ma analyst imi riri good guru


munorwei 2 months ago

kurwaisimba vakayi ma empire enyuwo.ibaiwo apa kwete kuzviita ma analyst imi riri good guru


Wekunyanya 2 months ago

Jealous down mudhara Tagwirei makanyanya,i respect yo hustle..big up man


Ndimba Ndimba 2 months ago

All these mines he is accumulating under a new name Kuvimba Housing is it money from retrenchment? The 3 billion Sakunda got for Command Agriculture when he was infact into fuels business without going to tender was it retrenchment money again. What about the Mbudzi junction tender ? We know that he is now in every sector because he is being used by some " big crocodile" to effect state capture of the country's economy just like the Gupta's were doing in SA. Rutendo must shut up ,we know he is a Zanu PF apologist !!! !! !


Sponsored

More
Tindo 2 months ago

Isu zvedu ma mercenary e Russia hatina jerasi naana Tagwirei, tiri kuikochomora cash yedu pano pa Ukraine apa


zimboy 2 months ago

we ol know the bootlicking spirit...tryna get his hands money hahaha


Mafia 2 months ago

Tagwirei ndoo weSakunda okay..hatimbosiyanai naye anomiramira mujaya iyeyu zvisineyi nekwaanobva nako !!!


Mafia 2 months ago

Tagwirei ndoo weSakunda okay..hatimbosiyanai naye anomiramira mujaya iyeyu zvisineyi nekwaanobva nako !!!


Jinn 2 months ago

Are you Tagwirei's spokesperson?


Bullfrog 2 months ago

The lesson is, smart thinking + political connections = BIG $$$$$$


.... 2 months ago

ICE COOL you are right. Exactly the way our beloved President is ploughing back into the community through projects such as Pfumvudza.

They steal a thousand bucks from you, come back to give you five bucks then you spend your whole life praising them.

With people like you in Zimbabwe, the future is bleak. I hope you are not a youth.


ICE COOL 2 months ago

At least he is giving back to the community by ploughing back his rich pickings into sport,hurt him but i love his vision,instead learn from him.


Cde Mzvinavhu (Prof) 2 months ago

Why preoccupied about Sakunda only and not other non black owned companies in Zimbabwe ? The most rich companies are non black owned in Zim. How did they become rich? We still have Rhodes' Estate assets in Zim. How were these assets accumulated? Munhu mutema ndiye onzi accumulated nokuba chete chete chete? Stop jecha business politics. Kkkkkki.


Gaffer 2 months ago

Cde mzvinabvhu-rich bourgeoisie war-don't insult e bourgeoisie, those are capitalists....

Rockfalley 2 months ago

How many whites do you have in Zimbabwe? How many do you and l interact with daily? In fact no only whites but people of other races? We kicked them out savagely. And a lot of the few Rhodesian ones you talk of are the ones who chose to coopt our leaders into their looting cartels. Now some of our leaders have recruited many black runners to do their bidding getting tenders without proper procedures.

What is ZACC? Who runs it? Who has ever been prosecuted because of its great work? Whistle blowers end up getting ****ed up and culprits still walk free.

Why? Because they could not afford to just leave the loot in Zimbabwe. Now our leaders have mastered the art. But a lot of our young people do not seem to get it.

Uyo ati dai ma-me ma-me yawedzera ataura chokwadi. We need a lot more unemployed graduates in Zimbabwe and government must keep on closing informal traders' space until this generation wakes up.

Cde Mzvinavhu(Prof) 2 months ago

Why is it that black entrepreneurs show jealousy against other blacks. When whites succeed in business no social media demonising against them, but
but only blacks are labelled corrupt in Zimbabwe. , Why? We have anti corruption structures but some prefer to use social media to spread fake reports, instead of giving Zacc evidence. We must also see allegations for corruption against whites. We are tired of a biased narrative that only blacks are corrupt in Zimbabwe. Those whose hobby is to finger those they suspect to be corrupt must also give concrete V11 forms. We should join hands in fighting corruption fairly, legally and formally, not just social media political puffery.

Thula Msindo 2 months ago

Iwe Chisinazita. I am already a business lady not a flesh selling one so don't take me for a prostitute.

I am sure you have not so much as tried to run a business in Zim even a small one. And you do not know how much shoddy deals involving people like this Queen Bee are sabotaging many people and the future of young people in Zimbabwe.

Handidi kunanzva neidzi because idzi kana dzapedza kukunanzva dzinokumwa ropa dzokutsenga nyama. They are vampires.

Iwe Muzvinavhu, l did not say whites are clean. Read again and understand. Most of the ones you referred to are as dirty as that🐝. I have done a background check on them.

I hope the situation gets worse because the young people in Zimbabwe seem not to care and they defend and idolise people who are the architects of their struggles.

A little more suffering will wake up this young generation that will not do anything for its future.

😏Hey Wena, Thula Msindo🦍

▪️ 2 months ago

@ Thula. Gara uchiziva kuti dzinonanzvana dzakakora, take the risks uitewo zvako uone kuti vanamari matombo havauye kuzotambawo newe here?

Cde Mzvinavhu 2 months ago

You mean whites are clean? The tender wars have nothing to do with the ordinary poor people. It is the rich bourgeoisie war in any country. Unless you are imagining some who get tenders and then donate part of their profits to povo Zimbabweano. In which country is that happening? Kkkkkki. Because of our toxic politics a lot of lies are peddled in this social media. Cui bono?

Thula Msindo 2 months ago

🤔If you track most, if not all, of the people you are refering to you will realise that they are all linked to top political elites including those in the curreny presidium and the one under RG the late. It is the same old rot. The richest whites in Zimbabwe, check their background. Queen Bee is not clean like many of them and it hurts and we talk about it because it is wealth being accumulated at the expense of suffering ordinary Zimbabweans and a lot of others whose clean businesses are being sidelined by these people who flauter due tender processes😏
🙄Hey Wena, Thula Msindo🦍

John 2 months ago

We can be mad at tagwirei all we want but at least he delivered the fuel. There is one comrade who was supposed to build a solar farm in gwanda years ago but till today, not even one solar panel has been erected. Just chowed the money. And zero accountability


Fungai 2 months ago

well said John

The Adjudicator 2 months ago

That's bootlicking.He is singing for his super .


Thula Msindo 2 months ago

This is as futile as attempting to exorcise demons out of satan himself? Simple clean corruption, nepotism and running around for the 'elites'. No matter how hard you try, you cannot clean up Queen Bee🐝he is eating the good of the land with his friend at the expense of ngwavhing masses. Finish and klaar.
😏Hey Wena Matinyarare, Tinyarewo, Thula Msindo🦍



Leave a comment


Recent News


News Categories



Give us a Feedback