Zimdef selling property to raise capital to fund other projects

7 years agoTue, 08 Nov 2016 01:02:36 GMT
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Zimdef selling property to raise capital to fund other projects

The Zimbabwe Manpower Development Fund (Zimdef) is selling one of its top properties in Harare for $1,7 million to raise capital to fund other projects at a time senior officials in its parent ministry are under probe for allegedly fleecing the organisation of hundreds of thousands of dollars.

Insiders told The Herald that the fund has cited financial challenges among reasons why it is putting Kuwirirana House on the market. The six storey building, which once belonged to the late Dr Sikhanyiso Ndhlovu in the 1990s, is situated along George Silundika Avenue close to First Street.

Zimdef tasked Knight Frank Estate Agents to sell the property on its behalf and the estate agents have since aired adverts alerting potential buyers. No one at Zimdef was prepared to talk to The Herald yesterday over the matter. Zimdef chief executive officer Mr Fredrick Mandizvidza claimed he was in a meeting and promised to call back.

More: Herald

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