AddiSensi

To whom it may concern!

RETWEET THIS FOR THE WORLD TO SEE This is an official support letter from the Zimbabwean Ministry of Finance, dated 24 March 2025, addressed to the Managing Director of Ecobank Zimbabwe. It is signed by George Guvamatanga, who is the Permanent Secretary for Finance and the heart of the corruption engine under Mnangagwa’s corrupt regime. The letter confirms that the Ministry of Finance has recorded a legacy debt of US$191,578,835 million owed by Valley Seeds (Private) Limited which is run by President Emmerson Mnangagwa’s nephew, Temba Nkatazo. Ecobank Zimbabwe has agreed to discount up to US$20 million of this amount under a 12 month term loan facility. The Ministry guaranteed the repayment and undertook to reduce the legacy debt by US$5 million monthly through Valley Seeds’ account. In the event of any payment delays, Ecobank is authorised to directly debit up to US$5 million from a Ministry of Finance account held at the bank. These are public funds that are being used to pay a debt owed by a private company. This letter places a public guarantee on a private company’s debt, committing government resources (i.e. public funds) to back a commercial loan facility for Valley Seeds. This is highly controversial in public finance terms because it tied state funds to a private company without clear public accountability, which is an undeniable act of corruption and cronyism, especially considering the large figures involved and the government’s economic struggles. This also raises serious concerns about transparency, as there is no explanation at all of how Valley Seeds was selected, what public benefit the deal serves, all know is that it is run by Mnangagwa’s nephew and that it was used to loot public funds during Command Agriculture days. This is an act of cronyism and state capture, particularly because the company has political ties. The structure put in place by Guvamatanga bypasses parliamentary oversight and violates public finance principles by committing future government revenues to a private debt servicing at a rate of US$5 million per month. In a country facing a catastrophic healthcare crisis, underpaid civil servants, and failing infrastructure, such a public finance financial burden is reckless, corrupt and unsustainable. It also undermines the integrity of the banking system by encouraging politically motivated lending and shielding private entities from accountability, making this a glaring example of the misuse of public funds for private gain. This letter is written by a man who used to be CEO of Barclays Bank, it is staggering! He is doing this for the President’s cronies because they are accountable to nobody except the corruption mafia Godfather himself, Emmerson Mnangagwa. Now why Valley Seeds? We know that Temba Nkatazo is the CEO of this company and that he is Mnangagwa’s nephew. Valley Seeds, under Nkatazo’s leadership, was a huge player in the corrupt Command Agriculture program which was driven by Mnangagwa. It has many allegations of mismanagement and corruption, billions were looted through it. Former Finance Minister Tendai Biti highlighted that companies like Valley Seeds invoiced the government without providing proof of seed deliveries. A 2023 parliamentary probe found no credible evidence to justify the debts claimed by such companies. Biti questioned how the government ended up owing nearly US$200 million to Valley Seeds, suggesting that the debts might not be genuine and pointing to a pattern of financial impropriety in the programme. Nkatazo was also listed among the beneficiaries of the Reserve Bank of Zimbabwe’s Farm Mechanisation Scheme, receiving a loan of US$323,329. This was published in a report by the later Dr Alex Magaisa which exposed how the bank was looted by ZANUPF. If Valley Seeds doesn’t pay this money, it is YOU the taxpayer who will pay it! More to come!