Nevanji Munyaradzi Chiondegwa
The dictionary definition of lunatic fringe is members of a usually political or social movement espousing extreme, eccentric, or fanatical views.
This means they actually use their minds but use their minds in a socially unacceptable way.
Their actions are contra bonos mores, which is Latin for “acting against good morals.”
The above phrase can be used to describe media houses in Zimbabwe including Alpha Media Holdings, who publish Newsday.
We will get to their depravity later, but there is a man I feel sorry for.
Not because he is pitiable socially or economically but rather I think emotionally.
It is already a tough job being a rich black man. You will either be accused of having conducted rituals ( kuromba ), a thief, corrupt or a front for some political figures or white people.
You cannot be wealthy and black and not be accused of having sacrificed a relative.
It must be hard being a black and rich man but the hardest is being Kudakwashe Raymond Tagwirei.
The man has been accused of being a front then of owning the politicians, then of State Capture, of being Queen Bee and a host of other accusations.
He has been made to appear like a Collossus bestriding the nation.
This is another case of white people using black people to hate other black people.
I have seen articles in different publications ascribing a lot of assets, businesses, mines, organisations to Kudakwashe Tagwirei.
I have seen articles related to the firing of certain Ministers and individuals to Kudakwashe Tagwirei.
It is really strange that people think the man is capable of what they say he is capable and yet they get away with making wild accusations against him daily.
If I were Tagwirei, having so much power, as is of course ascribed to him, I do not think certain newspapers would still be publishing.
It really must be a tough and lonely place that Tagwirei finds himself in.
For all his loyalty and love for the country, he is described as public enemy number one, a looter, corrupt and even has sanctions slapped on him.
Now, this is where the gullibility of Zimbabweans come into.
The United States of America slapped Kudakwashe Raymond Tagwirei with sanctions.
This then means that whatever organisations is related to Tagwirei is under sanctions. Funds linked to him are tied up under sanctions.
Furthermore more, if anyone deals with him, then they too are at default of OFAC and therefore liable to punishment and fines.
Then we get to CBZ Holdings Zimbabwe, which holding company owns Commercial Bank of Zimbabwe which bank has an American as is its Chairman.
The same bank had been fined by The USA for supposedly violating OFAC – the penalty was later scrapped.
That is not where the story is. The story is on its link with the much maligned Kudakwashe Tagwirei.
NewsDay Zimbabwe and its surrogate online publications would like us to think that Kudakwashe Tagwirei, whom they call an ED ( President Mnangagwa) ally owns CBZ Holdings including CBZ, the bank.
Balderdash, if that word is in English and if my editor allows it!
ED ally clinches e-paasport deal screamed NewsDay Zimbabwe.
A formerly respectable newspaper, the NewsDay Zimbabwe has now reduced itself to an extremely cheap tabloid, not even worth the paper it is printed on.
It is shameful that they not only gave space to such utter hogwash, but even gave it front-page coverage.
The claim that Kudakwashe Tagwirei owns CBZ Holdings or the commercial bank is nothing but a composition of fallacies!
I am an investor on the Zimbabwe Stock Exchange, an investor analyst and financial advisor.
CBZ Holdings is a listed company, I personally own 2000 shares in it.
Nothing to brag about for there are others of course that owns hundreds of thousands and some millions even.
The point is; CBZ is not owned by Tagwirei but by over a thousand shareholders. Its shares are publicly traded and anyone can buy them.
Currently the majority shareholder in CBZ Holdings is Government of Zimbabwe with its shareholding split this way;
Government of Zimbabwe owns 21.05%
NSSA – NPS owns 17.18%
NSSA – WCF owns 0.97%
Public Service Commision owns 4.93%
Local Authorities Pension Fund owns 0.88%
This therefore gives Government of Zimbabwe directly and indirectly controls 45.01% shareholding in CBZ Holdings.
Unless if as gullible as we are, we are saying Tagwirei is Government of Zimbabwe, he is NSSA, the local authorities and Public Service Commission, he can’t possibly own a majority holding in CBZ.
A simple perusal on the said organisation’s website would have yielded this information of course but then, that would have killed the intent of The NewsDay Zimbabwe!
The paper ran the story for a specific purpose: to surly the newly launched e-Passport by President Mnangagwa!
The Government of Zimbabwe owns part of CBZ, banks with CBZ and has had direct links with CBZ since 1980.
It is strange indeed that today, when it requests that passport fees be banked direct to its CBZ account, which ensures fees directly go where they are supposed to and curbs corruption, someone has to fault-find.
Ministry of Information, Publicity and Broadcasting Services Permanent Secretary, writing on microblog Twitter nicely and aptly summed it up this way;
“So Govt banks with the @CBZHoldings and has done so from time immemorial. It now says those who want to pay for the passport please do so at our bank. But some gutter tabloid screams, “ED ALLY CLINCHES PASSPORT DEAL” for that! Surely, Critical Thinking doesn’t live here anymore.”
Why it is wrong for CBZ Holdings which schools, colleges and universities have been banking with for so long and students have been depositing fees directly there should not get passport fees is strange.
Government departments have always held accounts and banked with CBZ but now that passports fees are being paid there directly it`s a problem?
Should we not be celebrating the fact that this move by Government curbs corruption, ensures safety of the public at passport application centres, avoids pilferage of monies and ensures that no bribery occurs? This is simply a resistance to change by some people!
Why would Government not give itself business if it is the majority shareholder of CBZ?
Kudakwashe Tagwirei has no shareholding in CBZ Holdings and the share register is evidence enough.
CBZ is the largest bank in Zimbabwe and has the biggest deposits and loan book in.
When you do business with CBZ you know your money is safe as a client. The CBZ executive is competent is competent to the extent that they had the largest Profit After Tax in their half year results declaring the largest dividend of all banks. This means stability.
Perhaps a bit of free wisdom, there is wisdom in buying shares in CBZ, it is among the top 10 counters on the Zimbabwe Stock Exchange.
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