Categories: Stories

Does Bona Mugabe’s pad in Hong Kong belong to the Zimbabwe government?

This will be the question that will be decided when the dispute over ownership of the $5million villa at JC Castle estate in Hong Kong goes to court on 6 March next year.

According to the South China Morning Post lawyers for the Zimbabwe government and Taiwan-born South African businessman Hsieh Ping Sung met Judge Godfrey Lam Ho-wan today to discuss arrangements for the trial.

Hsieh argues that the HK$40 million Hong Kong villa is his.

Records show that his company Cross Global bought the villa for HK$40 million in 2008.

Former President Robert Mugabe claimed that the villa belonged to the government of Zimbabwe.

His daughter Bona was “borrowing “it when she lived there while studying at City University.

Hsieh says it belonged to him all along.

Mugabe said Hsieh and his company Cross Global were merely holding the villa on trust.

(451 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Reserve Bank of Zimbabwe expects more foreign currency sellers to join the interbank market

The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…

December 4, 2024

Zimbabwe 2025 citizens’ budget

Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…

November 28, 2024

To go or not to go- Mnangagwa in a quandary

Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…

November 25, 2024

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024