Mutumwa Mawere
Encyclopedia
Mutumwa Dziva Mawere is an African businessman with interests in mining, manufacturing and agro industries, financial services (banking and insurance), telecommunications, publishing, investment holdings, transport and logistics, and international trading, among others. He has created businesses and turned around enterprises that have become Pan African and global players, most notably Africa Resources Limited (ARL) which was one of the most powerful and influential corporations in Zimbabwe’s history.
, the United Kingdom
and the United States
, obtaining a Master of Science
(Management) and an MBA (Finance & Investments) degree. Among his first employers were the Industrial Development Corporation of Zimbabwe and the Merchant Bank of Central Africa. In 1988, he joined the World Bank
, where he rose to become a Senior Investment Officer with the International Finance Corporation
. In 1995, he became a resident of South Africa
, obtaining citizenship in 2002.
(ZANU-PF), especially in connection with government guarantees for a US$60 million loan used in the purchase of SMM. Mawere denied these claims, saying that purchase payments were guaranteed for by a deposit of shares of the mining company instead.
, but failed. Since then, by presidential decree major parts of his businesses came under government control. According to Mawere, his businesses' funds were used to repay due International Monetary Fund
bonds.
, starting with his own situation and a vindication of his past business deals. His op-eds have appeared in several online news websites that cater to Zimbabweans scattered across the world.
Background
Mawere was educated in Zimbabwe, SwazilandSwaziland
Swaziland, officially the Kingdom of Swaziland , and sometimes called Ngwane or Swatini, is a landlocked country in Southern Africa, bordered to the north, south and west by South Africa, and to the east by Mozambique...
, the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, obtaining a Master of Science
Master of Science
A Master of Science is a postgraduate academic master's degree awarded by universities in many countries. The degree is typically studied for in the sciences including the social sciences.-Brazil, Argentina and Uruguay:...
(Management) and an MBA (Finance & Investments) degree. Among his first employers were the Industrial Development Corporation of Zimbabwe and the Merchant Bank of Central Africa. In 1988, he joined the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
, where he rose to become a Senior Investment Officer with the International Finance Corporation
International Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
. In 1995, he became a resident of South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
, obtaining citizenship in 2002.
Business empire
In 1996, he acquired Zimbabwe's sole asbestos mining company Shabanie Mashaba Mines (SMM), branching out through all of Zimbabwe's economy. His rise was accompanied by allegations of improper support by politicians from the ruling Zimbabwe African National Union - Patriotic FrontZimbabwe African National Union - Patriotic Front
The Zimbabwe African National Union – Patriotic Front has been the ruling party in Zimbabwe since independence in 1980, led by Robert Mugabe, first as Prime Minister with the party simply known as ZANU, and then as President from 1988 after taking over ZAPU and retaining the name ZANU-PF...
(ZANU-PF), especially in connection with government guarantees for a US$60 million loan used in the purchase of SMM. Mawere denied these claims, saying that purchase payments were guaranteed for by a deposit of shares of the mining company instead.
Demise of business empire
In 2004, Mawere's business empire came under government scrutiny, and allegations of prejudicing the state of more than Z$300 billion were raised by the authorities. In May, Zimbabwean authorities asked for Mawere's extradition from South AfricaSouth Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
, but failed. Since then, by presidential decree major parts of his businesses came under government control. According to Mawere, his businesses' funds were used to repay due International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
bonds.
Columnist
Since his businesses were seized, Mawere has written a number of articles about the situation in ZimbabweZimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
, starting with his own situation and a vindication of his past business deals. His op-eds have appeared in several online news websites that cater to Zimbabweans scattered across the world.