Tsvangirai asks where did Obert Mpofu get money?


Prime Minister Morgan Tsvangirai today asked where Mines Minister Obert Mpofu got money to buy a bank when he previously had nothing. Mpofu bought ZABG Bank last year after injecting $22,8 million into the institution. Addressing residents of Bulawayo as part of his nationwide campaign to get people to vote for the new constitution on Saturday, Tsvangirai said: “Ask Obert Mpofu how he managed to buy a bank when yesterday he had nothing. I hear he has bought almost half of Bulawayo.”The bank is reported to be struggling and is one of the seven that failed to meet the deadline of 31 December to increase their minimum capital to $25 million.


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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.


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