Alex Bell hosts a special programme about Corruption in Zimbabwe, and is joined by economic analyst Vince Musewe to discuss the controversial takeover of the ZANU PF linked Sakunda fuel group by a Dutch multinational oil trader called Trafigura. The deal, which gives Trafigura almost total control over the local fuel sector, comes on the back of a multimillion dollar loan to ZANU PF that Trafigura guaranteed. Musewe says the subsequent Sakunda takeover is an “exploitative deal” that undermines Zimbabwe’s economic recovery, because it benefits only ZANU PF elites.
The planned takeover of the ZANU PF linked Sakunda fuel group, by a controversial Dutch multinational oil trader called Trafigura, has been slammed as an “exploitative deal” that entrenches ZANU PF’s grip on power.
The takeover of Sakunda is said to be part of Trafigura’s aims at “consolidating its grip on the fuel supply and distribution in Zimbabwe,” and to cement its relationship with Robert Mugabe and ZANU PF. According to a report by Africa Confidential the deal has been done through Trafigura’s South African Subsidiary, Puma Energy Africa Holdings.