Rwodzi and Interfin Bank pays US$5.3 million for Muponda’s CFX disputed shares!!!!

Interfin Financial Services Limited ( Interfin Bank) on 5 July 2010 sealed its reverse take-over of the disputed CFX Financial Services and traded on the Zimbabwe Stock Exchange (ZSE) for the first time around mid-morning thereby taking over the CFX ownership dispute and controversy. Interfin are now liable to my claim due to their attempt to cover up the ownership dispute by rebranding and changing CFX Bank operations. This is clear money and transaction laundering being executed by Farai Rwodzi and Interfin Bank.
The 309 million Century Bank Shares I owned through my Company ENG Capital were fraudulently transferred and converted at the time of the merger between CFX Bank and Century in 2004 and Interfin Bank proceeded to take over CFX ignoring the disputed ownership of FCFX Bank and the attendant reputational risk. I even wrote to Credit Suisse to dissuade them from taking up shareholding in CFX FS. Credit Suisse has 40% shareholding in FBZ.

The ownership dispute was triggered by the special bargain sale of 309,000,000 shares on 12 May 2004 but the total shares claimed by me and my Company is 900,000,000 the balance was transferred in peace meal fashion to avoid detection of the fraud and transaction laundering that was being perpetrated. CFX was nothing more than a forex trading shop which was used to swallow Century Bank as a cover up of the illegal seizure of the Bank. I lost Century Bank shares owned through ENG Capital after they were “fraudulently” converted into CFX Bank which took over Century Bank assets and Branch network.

My specification was part of a grand plan to dispossess him of his shares in Century Bank, held through ENG. And it appears Mr Farai Rwodzi and Interfin are trying to ignore the reality of the dispute and are attempting to launder the transaction by reverse listing Interfin whilst simulteneously destroying CFX Brand to cover their tracks of involvement in clear fraud and money and transaction laundering.

Through my lawyers Gutu and Chikowero Attorneys I clearly warned Interfin that “This transaction may expose your bank to high reputational risk as the dispute may entangle your organisation as the rightful owners of CFX/Century bank seek to reclaim their stolen shares." That warning is still in force as I seek compensation for my shares fraudulently seized from me and my Company.
In addition through my lawyers Gutu & Chikowero Attorneys-at-law wrote to CFX company secretary Patricia advising her and the Company about our intention to purse this matter till its resolved amicably.

CFX Bank has remained under the curse of an established stigma due to the fraud described above and failure of management to properly handle the matter.

CFX FS directors noted in their circular to shareholders that a perennial crisis within the banking arm had made it impossible for CFX Bank to continue operations without getting into the merger, as funds raised to recapitalize the bank were already being spent on operations because of the failure of their brand to appeal to an untrusting public.
"Despite being recapitalized through the rights offer, CFX Bank has to date been unable to mobilize sufficient business to return to profitability, resultantly failing to achieve and maintain the minimum regulatory capital level of US$12,5 million," said the directors in a circular. This is because of the public’s general awareness to the underlying ownership dispute which has now been transferred to Interfin Bank and its brand.
The CFX brand has been underperforming because all market participants in Zimbabwe are fully aware of my claim and the high reputational risk that comes with ignoring the claim.

When the illegal transfer and conversion of my 309 million Century Bank Shares was done on or around 12 May 2004 I through my lawyers Ziweni and Company filed a high court application to block the sale of the shares. This record should still be there at the Harare High Court. As soon as we filed this application I was then specified without a hearing. This limited my ability to follow up the application. My lawyer and his firm was also specified. Leaving me without legal representation on the matter. This was all done to ensure that the 309 million shares are sold, transferred and Century/CFX Bank is snatched from my Company – ENG Capital.

Interfin Bank Zimbabwe are hoping the ownership problem will disappear by rebranding the Bank and renaming it Interfin Commercial Bank. The hope to hide the tracks of the theft and fraud by changing colours,brand and outside appearance of a stolen asset. This is the trick which CFX Bank tried when they fraudulently took over Century Bank Assets and tried to rebrand it into CFX Bank dropping the name Century from the rebranded Bank.

Interfin Bank have decided to inherit Century/CFX Bank ownership problems. By trying to swallow an illegally acquired asset Interfin is now becoming party to money and transaction laundering. And this has its own benefits ,and consequences.

The trend in Zimbabwe is that once a Bank or Asset is illegally seized there is an immediate need to rebrand it. Intermarket Bank was swallowed by ZB Bank. Beverly Building Society was rebranded to CBZ Building society. Trust, Barbican and Royal Bank were rebranded as ZABG.It is clear there is now a preferred modus operandi of seizing assets and renaming them and rebranding them. Interfin took over my Bank Century/CFX and then proceed to rename it and rebrand it as Interfin Commercial Bank since they desperately need the vast commercial Bank network and infrastructure owned by my Bank Century/CFX bank.
The company acquired a controlling stake in CFX last year after shareholders of the financially-distressed banking institution either ignored or failed to take up their rights in a $10 million equity offering underwritten by the acquirer. “IBC (Interfin Banking Corporation) will take over CFX Bank’s employees and their related liabilities,” CFX added. It appears Interfin ignored my advice


Only 1% of the company’s shareholders subscribed, making it the country’s worst equity offering on record.Technically, the underwriter commits to buy up whatever remains of an equity offering in the case of under-subscription.It is clear the other shareholders did not follow their rights because they saw the merit of my claim and the future litigation that lies ahead.

CFX had floated the equity offering to raise the minimum capital requirements set by the Reserve Bank of Zimbabwe following the collapse of its equity-financing negotiations with the Finance Bank of Zambia backed by Credit Suisse.Finance Bank of Zambia and Credit Suisse pulled out after I had written to them and convinced them of my ownership claim. It is unfortunate that Interfin has decided to ignore what other bigger banks have admitted to be a legitimate ownership dispute which must be solved first before the bank can transfer ownership or assets.
Interfin Holdings splurged US$5,3 million for the unsubscribed ordinary shares and preference shares.
A few local banks once came into CFX FS and left. POSB, first, with a huge outlays of the now out-of-circulation Zim-babwe dollars, and second, Premier Banking Corporation, which raised speculation about a merger. Both left in a huff, although POSB still keeps clutching to a small parcel in CFX FS, which will now be diluted after the merger with Interfin Banking Corporation.These all left because of the ownership dispute which the CF Management has been trying to ignore and wish away.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA.

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda

Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

Rwodzi and Interfin Bank pays US$5.3 million for Muponda’s CFX disputed shares!!!!

Rwodzi and Interfin Bank pays US$5.3 million for Muponda’s CFX disputed shares!!!!

Interfin Financial Services Limited ( Interfin Bank) on 5 July 2010 sealed its reverse take-over of the disputed CFX Financial Services and traded on the Zimbabwe Stock Exchange (ZSE) for the first time around mid-morning thereby taking over the CFX ownership dispute and controversy. Interfin are now liable to my claim due to their attempt to cover up the ownership dispute by rebranding and changing CFX Bank operations. This is clear money and transaction laundering being executed by Farai Rwodzi and Interfin Bank.
The 309 million Century Bank Shares I owned through my Company ENG Capital were fraudulently transferred and converted at the time of the merger between CFX Bank and Century in 2004 and Interfin Bank proceeded to take over CFX ignoring the disputed ownership of FCFX Bank and the attendant reputational risk. I even wrote to Credit Suisse to dissuade them from taking up shareholding in CFX FS. Credit Suisse has 40% shareholding in FBZ.

The ownership dispute was triggered by the special bargain sale of 309,000,000 shares on 12 May 2004 but the total shares claimed by me and my Company is 900,000,000 the balance was transferred in peace meal fashion to avoid detection of the fraud and transaction laundering that was being perpetrated. CFX was nothing more than a forex trading shop which was used to swallow Century Bank as a cover up of the illegal seizure of the Bank. I lost Century Bank shares owned through ENG Capital after they were “fraudulently” converted into CFX Bank which took over Century Bank assets and Branch network.

My specification was part of a grand plan to dispossess him of his shares in Century Bank, held through ENG. And it appears Mr Farai Rwodzi and Interfin are trying to ignore the reality of the dispute and are attempting to launder the transaction by reverse listing Interfin whilst simulteneously destroying CFX Brand to cover their tracks of involvement in clear fraud and money and transaction laundering.

Through my lawyers Gutu and Chikowero Attorneys I clearly warned Interfin that “This transaction may expose your bank to high reputational risk as the dispute may entangle your organisation as the rightful owners of CFX/Century bank seek to reclaim their stolen shares." That warning is still in force as I seek compensation for my shares fraudulently seized from me and my Company.
In addition through my lawyers Gutu & Chikowero Attorneys-at-law wrote to CFX company secretary Patricia advising her and the Company about our intention to purse this matter till its resolved amicably.

CFX Bank has remained under the curse of an established stigma due to the fraud described above and failure of management to properly handle the matter.

CFX FS directors noted in their circular to shareholders that a perennial crisis within the banking arm had made it impossible for CFX Bank to continue operations without getting into the merger, as funds raised to recapitalize the bank were already being spent on operations because of the failure of their brand to appeal to an untrusting public.
"Despite being recapitalized through the rights offer, CFX Bank has to date been unable to mobilize sufficient business to return to profitability, resultantly failing to achieve and maintain the minimum regulatory capital level of US$12,5 million," said the directors in a circular. This is because of the public’s general awareness to the underlying ownership dispute which has now been transferred to Interfin Bank and its brand.
The CFX brand has been underperforming because all market participants in Zimbabwe are fully aware of my claim and the high reputational risk that comes with ignoring the claim.

When the illegal transfer and conversion of my 309 million Century Bank Shares was done on or around 12 May 2004 I through my lawyers Ziweni and Company filed a high court application to block the sale of the shares. This record should still be there at the Harare High Court. As soon as we filed this application I was then specified without a hearing. This limited my ability to follow up the application. My lawyer and his firm was also specified. Leaving me without legal representation on the matter. This was all done to ensure that the 309 million shares are sold, transferred and Century/CFX Bank is snatched from my Company – ENG Capital.

Interfin Bank Zimbabwe are hoping the ownership problem will disappear by rebranding the Bank and renaming it Interfin Commercial Bank. The hope to hide the tracks of the theft and fraud by changing colours,brand and outside appearance of a stolen asset. This is the trick which CFX Bank tried when they fraudulently took over Century Bank Assets and tried to rebrand it into CFX Bank dropping the name Century from the rebranded Bank.

Interfin Bank have decided to inherit Century/CFX Bank ownership problems. By trying to swallow an illegally acquired asset Interfin is now becoming party to money and transaction laundering. And this has its own benefits ,and consequences.

The trend in Zimbabwe is that once a Bank or Asset is illegally seized there is an immediate need to rebrand it. Intermarket Bank was swallowed by ZB Bank. Beverly Building Society was rebranded to CBZ Building society. Trust, Barbican and Royal Bank were rebranded as ZABG.It is clear there is now a preferred modus operandi of seizing assets and renaming them and rebranding them. Interfin took over my Bank Century/CFX and then proceed to rename it and rebrand it as Interfin Commercial Bank since they desperately need the vast commercial Bank network and infrastructure owned by my Bank Century/CFX bank.
The company acquired a controlling stake in CFX last year after shareholders of the financially-distressed banking institution either ignored or failed to take up their rights in a $10 million equity offering underwritten by the acquirer. “IBC (Interfin Banking Corporation) will take over CFX Bank’s employees and their related liabilities,” CFX added. It appears Interfin ignored my advice


Only 1% of the company’s shareholders subscribed, making it the country’s worst equity offering on record.Technically, the underwriter commits to buy up whatever remains of an equity offering in the case of under-subscription.It is clear the other shareholders did not follow their rights because they saw the merit of my claim and the future litigation that lies ahead.

CFX had floated the equity offering to raise the minimum capital requirements set by the Reserve Bank of Zimbabwe following the collapse of its equity-financing negotiations with the Finance Bank of Zambia backed by Credit Suisse.Finance Bank of Zambia and Credit Suisse pulled out after I had written to them and convinced them of my ownership claim. It is unfortunate that Interfin has decided to ignore what other bigger banks have admitted to be a legitimate ownership dispute which must be solved first before the bank can transfer ownership or assets.
Interfin Holdings splurged US$5,3 million for the unsubscribed ordinary shares and preference shares.
A few local banks once came into CFX FS and left. POSB, first, with a huge outlays of the now out-of-circulation Zim-babwe dollars, and second, Premier Banking Corporation, which raised speculation about a merger. Both left in a huff, although POSB still keeps clutching to a small parcel in CFX FS, which will now be diluted after the merger with Interfin Banking Corporation.These all left because of the ownership dispute which the CF Management has been trying to ignore and wish away.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA.

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda

Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

Rwodzi and Interfin Bank pays US$5.3 million for Muponda’s CFX disputed shares!!!!

Interfin Financial Services Limited ( Interfin Bank) on 5 July 2010 sealed its reverse take-over of the disputed CFX Financial Services and traded on the Zimbabwe Stock Exchange (ZSE) for the first time around mid-morning thereby taking over the CFX ownership dispute and controversy. Interfin are now liable to my claim due to their attempt to cover up the ownership dispute by rebranding and changing CFX Bank operations. This is clear money and transaction laundering being executed by Farai Rwodzi and Interfin Bank.
The 309 million Century Bank Shares I owned through my Company ENG Capital were fraudulently transferred and converted at the time of the merger between CFX Bank and Century in 2004 and Interfin Bank proceeded to take over CFX ignoring the disputed ownership of FCFX Bank and the attendant reputational risk. I even wrote to Credit Suisse to dissuade them from taking up shareholding in CFX FS. Credit Suisse has 40% shareholding in FBZ.

The ownership dispute was triggered by the special bargain sale of 309,000,000 shares on 12 May 2004 but the total shares claimed by me and my Company is 900,000,000 the balance was transferred in peace meal fashion to avoid detection of the fraud and transaction laundering that was being perpetrated. CFX was nothing more than a forex trading shop which was used to swallow Century Bank as a cover up of the illegal seizure of the Bank. I lost Century Bank shares owned through ENG Capital after they were “fraudulently” converted into CFX Bank which took over Century Bank assets and Branch network.

My specification was part of a grand plan to dispossess him of his shares in Century Bank, held through ENG. And it appears Mr Farai Rwodzi and Interfin are trying to ignore the reality of the dispute and are attempting to launder the transaction by reverse listing Interfin whilst simulteneously destroying CFX Brand to cover their tracks of involvement in clear fraud and money and transaction laundering.

Through my lawyers Gutu and Chikowero Attorneys I clearly warned Interfin that “This transaction may expose your bank to high reputational risk as the dispute may entangle your organisation as the rightful owners of CFX/Century bank seek to reclaim their stolen shares." That warning is still in force as I seek compensation for my shares fraudulently seized from me and my Company.
In addition through my lawyers Gutu & Chikowero Attorneys-at-law wrote to CFX company secretary Patricia advising her and the Company about our intention to purse this matter till its resolved amicably.

CFX Bank has remained under the curse of an established stigma due to the fraud described above and failure of management to properly handle the matter.

CFX FS directors noted in their circular to shareholders that a perennial crisis within the banking arm had made it impossible for CFX Bank to continue operations without getting into the merger, as funds raised to recapitalize the bank were already being spent on operations because of the failure of their brand to appeal to an untrusting public.
"Despite being recapitalized through the rights offer, CFX Bank has to date been unable to mobilize sufficient business to return to profitability, resultantly failing to achieve and maintain the minimum regulatory capital level of US$12,5 million," said the directors in a circular. This is because of the public’s general awareness to the underlying ownership dispute which has now been transferred to Interfin Bank and its brand.
The CFX brand has been underperforming because all market participants in Zimbabwe are fully aware of my claim and the high reputational risk that comes with ignoring the claim.

When the illegal transfer and conversion of my 309 million Century Bank Shares was done on or around 12 May 2004 I through my lawyers Ziweni and Company filed a high court application to block the sale of the shares. This record should still be there at the Harare High Court. As soon as we filed this application I was then specified without a hearing. This limited my ability to follow up the application. My lawyer and his firm was also specified. Leaving me without legal representation on the matter. This was all done to ensure that the 309 million shares are sold, transferred and Century/CFX Bank is snatched from my Company – ENG Capital.

Interfin Bank Zimbabwe are hoping the ownership problem will disappear by rebranding the Bank and renaming it Interfin Commercial Bank. The hope to hide the tracks of the theft and fraud by changing colours,brand and outside appearance of a stolen asset. This is the trick which CFX Bank tried when they fraudulently took over Century Bank Assets and tried to rebrand it into CFX Bank dropping the name Century from the rebranded Bank.

Interfin Bank have decided to inherit Century/CFX Bank ownership problems. By trying to swallow an illegally acquired asset Interfin is now becoming party to money and transaction laundering. And this has its own benefits ,and consequences.

The trend in Zimbabwe is that once a Bank or Asset is illegally seized there is an immediate need to rebrand it. Intermarket Bank was swallowed by ZB Bank. Beverly Building Society was rebranded to CBZ Building society. Trust, Barbican and Royal Bank were rebranded as ZABG.It is clear there is now a preferred modus operandi of seizing assets and renaming them and rebranding them. Interfin took over my Bank Century/CFX and then proceed to rename it and rebrand it as Interfin Commercial Bank since they desperately need the vast commercial Bank network and infrastructure owned by my Bank Century/CFX bank.
The company acquired a controlling stake in CFX last year after shareholders of the financially-distressed banking institution either ignored or failed to take up their rights in a $10 million equity offering underwritten by the acquirer. “IBC (Interfin Banking Corporation) will take over CFX Bank’s employees and their related liabilities,” CFX added. It appears Interfin ignored my advice


Only 1% of the company’s shareholders subscribed, making it the country’s worst equity offering on record.Technically, the underwriter commits to buy up whatever remains of an equity offering in the case of under-subscription.It is clear the other shareholders did not follow their rights because they saw the merit of my claim and the future litigation that lies ahead.

CFX had floated the equity offering to raise the minimum capital requirements set by the Reserve Bank of Zimbabwe following the collapse of its equity-financing negotiations with the Finance Bank of Zambia backed by Credit Suisse.Finance Bank of Zambia and Credit Suisse pulled out after I had written to them and convinced them of my ownership claim. It is unfortunate that Interfin has decided to ignore what other bigger banks have admitted to be a legitimate ownership dispute which must be solved first before the bank can transfer ownership or assets.
Interfin Holdings splurged US$5,3 million for the unsubscribed ordinary shares and preference shares.
A few local banks once came into CFX FS and left. POSB, first, with a huge outlays of the now out-of-circulation Zim-babwe dollars, and second, Premier Banking Corporation, which raised speculation about a merger. Both left in a huff, although POSB still keeps clutching to a small parcel in CFX FS, which will now be diluted after the merger with Interfin Banking Corporation.These all left because of the ownership dispute which the CF Management has been trying to ignore and wish away.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA.

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda

Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

ZANU PF already rigging next election

In a recent newspaper article entitled “Zanu PF wants retention of old executive order” Zimbabwe’s former ruling party ZANU-PF is proposing various ideas for the new constitution. On citizenship and bill of rights, only children born in the Diaspora would be allowed dual citizenship. This immediately creates two Citizenship classes in one family. Legal family division starts and is imposed by the state. This is not progressive and is just designed to excluded exiled Zimbabweans from voting and participating in National affairs and Nation building.

Clearly Zimbabwe’s former ruling party – ZANU-PF is already trying to rig the next election by excluding all non-resident Zimbabweans from participating in the new constitution and from voting. Some statistics indicate more than 30 % of Zimbabwe’s population lives outside the country in countries such as Botswana, South Africa, UK,USA, NZ, Canada etc. This means any election which doesn’t allow non resident Zimbabweans to vote is clearly a manipulated election which does not represent the views of a majority of Zimbabweans.

There is a disturbing trend that seems to suggest that one is less of a Zimbabwean just by not being based in Zimbabwe. This idea is being promoted by politicians who feel exiled Zimbabweans may not be supportive of certain policies and ideas. Exiled Zimbabweans have played a critical role in keeping Zimbabwe from total collapse through remittance of millions of dollars every month. This is the money that keep the country going when there was not International Bank or Institution prepared to lend money to the nation. And the Diaspora is being stripped of voting rights and Citizenship as a thank you for keeping the country going?

The attempt to allow children born in the Diaspora dual Citizenship whilst forbidding their parents is a well calculated election rigging scheme by ZANU PF. Firstly the calculation is that these children born in the Diaspora are mostly still too young to vote. And secondly even if when they are old enough most of them are unlikely to be too keen to involve themselves in the politics of Zimbabwe, a country they will hardly know as most will not grow up in the Country. Thirdly these children may not have a correct perspective of Zimbabwe’s history for them to be able to take positions which their parents may see as more informed.

Zimbabwe loses nothing by allowing multiple citizenship. Multiple citizenship is a status in which a person is concurrently regarded as a citizen under the laws of more than one state. Multiple citizenships exist because different countries use different, and not necessarily mutually exclusive, citizenship requirements.
Many progressive countries consider multiple citizenship desirable because it increases opportunities for their citizens to compete and build contacts globally, and/or have taken active steps towards permitting multiple citizenship in recent years (e.g., Australia since April , 2002). India, has introduced a form of overseas citizenship

In order for the New Constitutional consultation process to be successful or at least gather pace, there is need for a UN involvement which will make funding flow much more easily as donor longer trust Harare administrators.

In some cases, multiple citizenship can create additional tax liability for the exiles. Countries that impose tax will generally use a combination of three factors when determining if a person is subject to taxation. This is an area that the New constitution must carefully considered before trying to strip Diaspora Zimbabweans of the voting and citizenship rights.

Residency - a country may tax the income of anyone who lives there, regardless of citizenship or whether the income was earned in that country or abroad
Source - a country may tax any income generated there, regardless of whether the earner is a citizen, resident, or non-resident; or
Citizenship - a country may tax the worldwide income of their citizens, regardless of whether they reside in that country or not.

Investment – The Diaspora has been investing seriously in Zimbabwe’s real estate by buying investment and rental properties. Zimbabwe is desperate need for investment and it is not progressive or wise to seek to strip voting and citizenship rights from people who have shown so much commitment to their country.

Even for the elections, there is need to involve more accountable and respected Institutions such as the United Nations in the confirmation of the electoral roll, constituency boundaries and the actual monitoring of voting.

The 2008 election only showed that Zimbabwe can be Democratic and the people’s will can be and will be respected. One thing is for sure the toothpaste that cannot be squeezed back into the tube. There is a general trend for Zimbabweans to move with the times and not be divided by ethnicity or social class. The current attempts to grant different citizenship class between parents and children born in the diaspora must be exposed then resisted at all costs. This is not Nation building but rather a self serving scheme for politicians to exclude anyone who they feel may not subscribe to their policies.

Of late Zimbabwe’s history is one of persecution and forced migration, and as such the only thing that you can be sure to bring with you up when you're forced out of your home or country is your brain, effort to be recognized and power to network and work as a group with a common purpose. This is what Zimbabwe’s Diaspora desperately needs to work on and avoid being excluded from National affairs under various excuses.

This article appears as courtesy of GMRI Capital ( www.gmricapital.com) prepared for 3MG MEDIA

Gilbert Muponda is a Co-Founder of 3MG Media . He can be reached at;

Email: gilbert@3mgmedia.ca . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

New Constitution process must involve Diaspora Zimbabweans

The Constitution drafts circulated in 2000 were both written by a few individuals, and members of the public only got involved when they were asked to vote for or against the government's version. This is the period when Professor Jonathan Moyo performed one of his most dramatic chameleon shifts morphing from arch Mugabe critic to become the spokesman of the Government backed Constitution draft.The 2000 Constitution process was driven by few wise men and the same format is being followed with the Diaspora input being ignored. There is no visible effort to involve Zimbabweans abroad despite a misdirected effort in attempting to tax Diaspora Zimbabweans.

The 2000 Constitution making process was reduced to no or yes vote when it was clear the process leading up to that constitution was marred by irregularities .The same path is being followed now. One wonders what is the wisdom of expecting to reach a different destination when you use the same road.

The Constitution Parliamentary Committee (COPAC) intends to use extracts from various existing drafts and somehow end up with a modern and progressive Constitution. A constitution must take into account the nation’s vision and aspirations.

The Constitutional process is part of a delicate nation building process. As such Zimbabweans across the world must be consulted and their views and aspirations taken into account when drafting a new constitution. It is mischievous to task a Zimbabwean who has never been based in the Diaspora to draft a new constitution on rights of Zimbabweans based abroad without consulting those Zimbabweans. There is a clear need to involve the Zimbabweans abroad in the constitution making process.

Out reach teams need to reach out to the Diaspora. Clearly there is need for Diaspora based Constitutional Commission members who can clarify the needs and views of foreign based ZImbabweans. The current format is based on system of Thematic committees that will present questions to members of the public, and their answers will be gathered into the talking points, which will then be debated. These committees must find their way to consult Zimbabweans based in UK,USA,NZ, Australia, South Africa, Canada and many other countries where significant numbers of Zimbabweans live.

Individuals in thousands of meetings across the country will be able to draw their suggestions from any document they choose - including the Constitutional Commission draft rejected in 2000, the alternative draft put forward at that time by the NCA, or the Kariba draft drawn up by the negotiating teams that produced the Global Political Agreement that brought a bitter post-election struggle to a close in September 2008. Zimbabwe’s Economy is currently in a very weak state mostly due to various policy shifts, laws and regulations which were devised to serve interests of a few individuals. The new constitution must focus a creating various institutional checks and balances that make it difficult if not impossible for those in power to manipulate laws which results in Economic chaos due to a hostile environment created by abusing the laws.


An individual should be allowed two presidential terms of four years each. Limited to 2 terms of 4 years each for the President for each individual. This must be clearly spelt out in the constitution. This will ensure that the country will not be stuck for another 3 decades under the grip of one “wiseman” .Even the wisest of men deserve to reset and give others a chance.

Media Independence must be protected and the abuse of state broadcasting and media infrastructure must be stopped and clearly outlined .The current set up where a ruling party can privatize state media resources is a national threat as politicians monopolize the service and abuse state media .State media should not be a propaganda tool for any ruling party. It must remain objective and serve to inform, entertain and educate the nation without bias towards any political party. These are guidelines which must be clearly spelt out in the new constitution to ensure that the next election is held under an even political field.

Issues such as black empowerment and localization of the economy must be address during the Constitution making process. It is important that such sensitive and important issues be covered under this process to avoid the current situation whereby a law appears to be meant to aid and abet a political patronage network rather than further national goals and vision


Dual Citizenship possibility must be clearly addressed and be part of the Constitution. Zimbabwe stand to lose a significant amount of skilled and experienced personnel if the rules are not changed to encourage Zimbabweans to retain their Citizenship and linkages to the Country. The Constitution must allow dual citizenship as this will act as an incentive for foreign based Zimbabweans to remain engaged in the development of the country. Most progressive nations allow dual citizenship and this is a critical area which requires direct input from Zimbabweans in the Diaspora.

Political Party funding must be proportional based on the number of actual votes gained and not on the number of seats won. This will serve to encourage participation by more political players allowing a more vibrant democracy not hindered or manipulated by lack or availability of resources. The current situation of basing Political Funding on the number of seats won has created a situation which eliminates other hopeful political players to join as they are disqualified fro funding. As an example Mavambo managed to get approximately 10% of the vote. This means Mavambo should at least have qualified for a proportionate funding from the state similar to what MDC-M,MDC-T and ZANU-PF got.

This article appears as courtesy of GMRI Capital ( www.gmricapital.com) prepared for 3MG MEDIA

Gilbert Muponda is a Co-Founder of 3MG Media . He can be reached at;

Email: gilbert@3mgmedia.ca . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

Nestle Company Closure Drama Affects Investor Confidence

The recent forced closure of the Nestle Milk Factory in Zimbabwe clearly shows that Zimbabwe’s ruling elite operate a mafia like protection racket aimed at independent businesses and business people. This trend has negatively affects investor confidence and will hinder Economic recovery effort as investors become jittery

There is clear evidence of abuse of political power to gain a business advantage and intimidate investors to make decisions they would otherwise not have made were it not for the presence of a mafia like protection racket being run from the highest office. Reports indicate that the Company has now been offered protection and its staff members safety has been guaranteed.

In a statement late last week (http://allafrica.com/stories/200912250004.html) , Zimbabwe’s Industry and Commerce Minister Professor Welshman Ncube said he had held consultations with Nestlé Zimbabwe, Gushungo Dairies and other "key stakeholders in the dairy sector".Gushungo Diaries is a Business owned and controlled by Zimbabwe’s First family. These negotiations come after Nestle had been forced to close down its operations and endangering several thousand jobs.

The company said, in its statement through AFP, that on Saturday the factory was visited by Zimbabwean "officials" and police, and forced to accept a tanker of non-contracted milk. In a normal country a client can never be forced to take delivery from a non contracted supplier. The contracts are normally there for a purpose including to enforce hygienic standards and avoid ruining the concerned Firm’s reputation by doing business with entities that may have questionable standing.

Reports show that Two Nestle managers were questioned by police but were released without charge after questioning the same day. The “questioning “of managers is clearly an intimidatory tactic employed by corrupt Governments to squeeze favors and bribes from business. This makes Zimbabwe a high risk investment destination. At a time when the country is trying to attract additional Foreign Direct Investment (FDI) this is ill advised for a Company owned by Zimbabwe’s President and his wife to be harassing a foreign investor. What message is this sending to the investing community?

The statement by Minister Ncube continues "As a result of those consultations, the parties have collectively reached an understanding to work together in ensuring that milk produced at Gushungo Dairies is absorbed by the local dairy processors.

"For its part, Government has given its assurance on the safety of staff and management at both Nestlé Zimbabwe and Gushungo Dairies," said the statement.

The latest drama comes a few months after Reserve Bank of Zimbabwe Governor Gideon Gono had temporarily frozen Nestlé’s Bank accounts (http://allafrica.com/stories/200910090831.html). The account freezing incident last for a few weeks to allow “investigations”. An investigation report was never made public as to the findings of this seemingly dubious investigation.

This is a disturbing trend of how Zimbabwe’s leading politicians are poisoning the business environment by grabbing all business opportunities whilst scaring potential investors. Only a few weeks I was highlighting how Vice President Joice Mujuru and her Husband are using their investment front Interfin Merchant Bank to take over my disputed Bank – CFX/Century using brute political force. The take over of CFX /Century Bank by the Mujuru’s through their Bank Interfin despite my protestations show the level of unrestrained self enrichment spree which must be documented and stopped. And if the Nestle /Gushungo Diaries drama is added to the picture it clearly confirms that Zimbabwe’s ruling elite will stop at nothing to control all businesses despite their proven lack of experience in such businesses.

Whilst the protests on Gushungo Diaries and Nestle were based on the fact that the First Family did not pay a fair price for the Gushungo farm and its previous owner was haunted off the farm and forced to accept a token price it matches into the Mujurus’ modus operandi of buying a disputed CFX Bank despite clear evidence that the Bank was looted and unjustly taken from its previous owners. The common denominator being the reliance of political muscle to protect such ill gotten wealth.

If Zimbabwe is to attract fresh and meaningful investment this way of doing business must end. The use and abuse of political office to grab businesses or launder ill gotten wealth must be exposed and discouraged.

This article appears as courtesy of GMRI Capital ( www.gmricapital.com) prepared for 3MG MEDIA – www.3mgmedia.ca

Gilbert Muponda is a Co-Founder of 3MG Media . He can be reached at;

Email: gilbert@3mgmedia.ca . Skype ID: gilbert.Muponda

www.facebook.com/muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

Interfin Bank Zimbabwe true owners exposed

Interfin Bank are trying to take over my Bank Century/CFX Bank using political muscle and connections. This must be documented and stopped.

At this time its important to pierce the Corporate veil and expose the true beneficial owners of Interfin Bank Zimbabwe. Information obtained last week shows that Interfin Bank Zimbabwe is a ZANU - PF Bank disguised as a commercial venture.

The beneficial owners of Interfin Bank Zimbabwe are a Group of ZANU PF Politicians led by Vice President Mujuru, Her Husband General Solomon Mujuru, Former Governor Raymond Kaukonde, Empowerment Minister Saviour Kasukuwere and Former ZANU PF Finance Minister Simba Makoni.These are the real owners of Interfin owning the Bank on behalf of ZANU PF .

Interfin Bank Zimbabwe are trying to buy Century/CFX Bank which was illegally seized from me hoping the ownership problem will disappear by rebranding the Bank and renaming it Interfin Commercial Bank. The hope to hide the tracks of the theft and fraud by changing colours,brand and outside appearance of a stolen asset. This is the trick which CFX Bank tried when they fraudulently took over Century Bank Assets and tried to rebrand it into CFX Bank dropping the name Century from the rebranded Bank.

It appears Interfin Bank have decided to inherit Century/CFX Bank ownership problems. By trying to swallow an illegally acquired asset Interfin is now becoming party to money and transaction laundering. And this has its own benefits ,and consequences.

The trend in Zimbabwe is that once a Bank or Asset is illegally seized there is an immediate need to rebrand it.Intermarket Bank was swallowed by ZB Bank. Beverly Building Society was rebranded to CBZ Building society. Trust, Barbican and Royal Bank were rebranded as ZABG.It is clear there is now a preferred modus operandi of seizing assets and renaming them and rebranding them.

It is clear Interfin are trying to take over my Bank Century/CFX and then proceed to rename it and rebrand it as Interfin Commercial Bank since they desperately need the vast commercial Bank network and infrastructure owned by my Bank Century/CFX bank. This must be documented.

When the illegal sale of my 309 million Century Bank Shares was done on or around 12 May 2004 I through my lawyers Ziweni and Company filed a high court application to block the sale of the shares. This record should still be there at the Harare High Court. As soon as we filed this application I was then specified without a hearing.

This limited my ability to follow up the application. My lawyer and his firm was also specified. Leaving me without legal representation on the matter. This was all done to ensure that the 309 million shares are sold, transferred and Century/CFX Bank is snatched from my Company – ENG Capital.

I have created a website to document Interfin's attempt to legitimize an illegal transction.The website is http://interfinbank.blogspot.com/