RBZ Shockingly Paying NOIC's US$17M Debt To Sakunda

3 years agoFri, 30 Oct 2020 10:15:40 GMT
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RBZ Shockingly Paying NOIC's US$17M Debt To Sakunda

The Reserve Bank of Zimbabwe is paying a US$17,2 million debt which National Oil and Infrastructure Company (NOIC) owes to Sakunda Holdings.  This comes amid concerns by several stakeholders including the Zimbabwe Coalition on Debt and Development (ZIMCODD) over the RBZ’s inheritance of debts which some elites owe. NOIC Zimbabwe is a government entity that transports petroleum products to Zimbabwe using the pipeline from Beira, Mozambique. Sakunda Holdings is owned by Kuda Tagwireyi who is closely linked with senior government officials in the ruling ZANU PF. Zimbabwe’s domestic and external debt has been ballooning amid claims that the country lacks a sustainable debt management plan. Watch the video below for more.



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