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Broke Zim Government Buys Fuel Firm

President Emmerson Mnangagwa’s impecunious government paid an undisclosed amount to buy fuel company Trek Petroleum last week, which was recently encumbered by a $45 million tax liability, raising questions about the motives behind the transaction.

Although Energy and Power Development Minister, Simon Khaya Moyo, made the disclosure in Parliament on February 7, Trek directors refused to discuss the transaction when contacted by The Financial Gazette yesterday, adding mystery to the development.

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