Zimbabwe Vice President Emmerson Mnangagwa Auctions Neck Tie for $30,500 to Investment Bank Boss George Manyere

In what appears to be a stampede by the business community to buy into Zanu PF patronage, Vice president Emmerson Mnangagwa’s necktie was auctioned at an astronomical figure of US$30 500 at a fundraising function by the Zimbabwe Youth Council (ZYC).



Mnangagwa necktie sold for $30 500

ZYC chairperson Acie Lumumba said the function was meant to raise funds for the construction of a youth information centre.

“We want to build first state of the art youth Centre in Harare. The centre is designed to offer youths access to information and resources,” Lumumba said.

“We raiseD $207 000, 00 and the necktie was sold to George Manyere CEO of Brainworks. A youth himself who has built the top investment bank in this country.”

Manyere is the Managing Director, Chief Investment Officer and founder of Brainworks Capital Management, a private firm which stole the limelight in parliament in 2013 after its illegal indigenisation deals.

Parliament then grilled the then indigenisation minister Savior Kasukuwere, over allegedly involving Brainworks Capital, a private firm which stitched deals on behalf of government without going to tender.

BrainworkS was recruited by the National Indigenisation and Economic Empowerment Board (Nieeb) and the Indigenisation ministry as financial consultant for several indigenisation deals including a $971 million deal with Zimbabwe Platinum Mines Limited (Zimplats).

Following the ouster of the former vice president Joice Mujuru on allegations of plotting to topple president Robert Mugabe, companies that were allegedly aligned to her are also being victimised with the latest being Telecel and Croco Motors.

Government sources said the Zanu PF government is cracking down on leading multi-franchised companies over their real or perceived links to Mujuru and her late husband, retired army commander General Solomon Mujuru, by cancelling contracts, refusing to settle their dues and unleashing tax authorities on them in a bid to run them down for political reasons as Zanu PF factional fights escalate.

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