Tagwirei must be stopped, says Biti

Published: 20 hours ago

Former Finance Minister Tendai Biti has launched a scathing attack on controversial businessman Kudakwashe Tagwirei, accusing him of plundering Zimbabwe's economy and warning that his presidential ambitions must be firmly rejected.

In a blistering interview with 263Chat on Monday, Biti described Tagwirei as a "criminal" responsible for the collapse of Zimbabwe's local currency in 2019 and said his influence within Zanu-PF is a dangerous threat to the country's future.

"It is crazy to think that this criminal actually has ambitions to be the next President of the Republic of Zimbabwe," Biti said. "It can't happen and should not happen. It should not be allowed to happen."

Biti's remarks follow recent developments within the ruling party, where Tagwirei's controversial co-option into the Zanu-PF Central Committee was blocked. Party spokesperson Christopher Mutsvangwa publicly vowed to resist Tagwirei's ascent, accusing him of using wealth to buy influence.

Echoing those sentiments, Biti claimed that Tagwirei has corrupted the political process and destabilised the economy. He singled out the issuance of US$360 million in treasury bills to Tagwirei in 2019, alleging that the businessman released massive amounts of RTGS currency into the market, triggering a crash of Zimbabwe's monetary system.

"Tagwirei single-handedly collapsed our local currency," Biti charged. "He took treasury bills, flooded the market, and destroyed any remaining confidence in the RTGS. That was economic sabotage."

In 2019, President Emmerson Mnangagwa had declared the RTGS as the region's strongest currency. However, a dramatic devaluation later followed, and in April this year, the government introduced a new currency – the Zimbabwe Gold (ZiG) – in a fresh attempt to stabilise the monetary system.

Tagwirei, the founder of Sakunda Holdings, has long been linked to state-backed contracts and alleged illicit enrichment. His Fossil company came under fire for constructing the Harare's Trabablas Interchange at a staggering cost of US$114 million - more than double the regional average for similar infrastructure projects.

Biti also lambasted Zanu-PF for tolerating what he described as the "purchase" of loyalty and positions with expensive gifts, following reports that Tagwirei handed over luxury vehicles to Harare provincial leaders in a bid to boost his party standing.

"I feel pity for Zanu-PF. It is being reduced to a commodity that can be bought by a few trinkets. A few motor vehicles, a few GD6s - what kind of country have we become?" he asked.

He further suggested that the legacy of Zimbabwe's liberation war was being desecrated by the current trajectory of the ruling party.

"Thousands of liberation war heroes must be turning in their graves. They would never have fought had they known the party they died for would one day be hijacked by moneyed elites," Biti said.

The sharp rebuke underscores growing tensions within Zanu-PF and the broader national discourse over wealth, corruption, and political power. Tagwirei has not publicly responded to Biti's remarks.
- NewZimbabwe