Reserve Bank of Zimbabwe freezes major fuel company’s accounts


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The Reserve Bank of Zimbabwe has frozen all bank accounts of four companies including that of Sakunda which is one of the major fuel companies in the country.

A statement issued by the bank’s financial intelligence unit ordered the freezing of all transactions of Sakunda, Access Finance, Spartan Security, Croco Motors and related entities.

The statement said banks should not process any withdrawals from the accounts but should allow deposits and other flows into the accounts.

It also said banks should report any deposits or flows into the accounts as well as any attempted withdrawals.

Sakunda is owned by Kudakwashe Tagwirei who some media reports say is an ally of President Emmerson Mnangagwa.

Some reports, however, say he was close to the late former President Robert Mugabe but got closer to Vice-President Constantino Chiwenga following the demise of Mugabe.

(206 VIEWS)

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The Insider

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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