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*ED's Advisor Now US$54 Million Richer From New ZUPCO Deal*

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Sakunda Holdings boss Kuda Tagwirei, who is a member of President Emmerson Mnangagwa’s Advisory Council, has made a US$54 million in a fresh bus purchase agreement with the government.

The Zimbabwe Independent reports that through his company Landela Investments, Tagwirei will import 500 additional buses for mass public transportation.

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The buses will be imported at a unit price of US$58 900 from Xiamen Golden Dragon Bus Company in China and then sold to the government for US$212 962 for each bus.

The landing cost of each bus, including transportation, duty, tax and clearing, will be US$104 147 and this means that Landela Investments will make above 100 per cent profit, at US$108 815 per bus.

The government will pay Tagwirei’s company a total of US$106,4 million, with the company pocketing a US$54 million profit from the bus deal.

Sakunda Holdings has been involved in several controversial multi-million dollar projects, including Command Agriculture, under which the company failed to account for about US$3 billion in public funds.

The company was also awarded the Dema Emergency Power Plant project without going to tender, and the plant has become a white elephant.

*More: Zimbabwe Independent*

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