Published: 3 hours ago

A United Arab Emirates-based company has allegedly lost US$60,620 in a failed lithium deal with a local firm, prompting fraud charges against Nasha Weal Musa, director of Nasha Industries and Commodities Private Limited.

Musa appeared before Harare magistrate Ms Ruth Moyo on Monday facing allegations of duping Rudra Mani Gen Trading LLC, a UAE-registered entity that procures minerals in Zimbabwe for export to China. The accused was remanded in custody until tomorrow for a bail hearing.

The complainant is represented by Mahek Shah (39), the company's Operations Director, who told investigators that Musa misrepresented his company's capacity to supply lithium concentrate, leading to significant financial losses.

According to State prosecutor Takudzwa Jambawu, the alleged fraud began in January 2025 when Shah, seeking lithium concentrate for export, met Musa at Borrowdale's Village Walk in Harare. Musa allegedly claimed he had access to 500 metric tonnes of lithium concentrate in Kamativi, priced at US$196,000, which included facilitation of export documentation.

On January 31, the parties signed a Memorandum of Sale and Purchase Agreement, agreeing that Musa would deliver the lithium to No. 7 Faber Road, Bluffhill, where it would be collected for export. The deal specified that payment would be made only after delivery of the mineral.

However, the court heard that on February 11, Musa told Shah he was experiencing funding constraints and requested a cash advance to begin transporting the lithium. Shah then transferred US$47,000, which Musa acknowledged in writing, promising to deliver the lithium within five days.

When the deadline passed with no delivery, Musa allegedly requested more funding and received an additional US$13,620 in staggered payments.

Despite receiving the total sum of US$60,620, Musa allegedly failed to deliver any lithium, became evasive, and is accused of converting the funds to personal use. The complainant eventually reported the matter to police, leading to Musa's arrest.

The case has attracted attention as Zimbabwe continues to position itself as a major lithium supplier, with rising demand from global electric vehicle and battery manufacturers. The incident has also raised fresh concerns over fraudulent practices in the mineral trade sector.

The court will rule on Musa's bail application on Tuesday, August 6.
- The Herald

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