ZANU PF WANTS TO SELL POSB IN SECRET DEAL TO LOOT THE PEOPLE AGAIN
ZANU PF is once again trying to steal from the people of Zimbabwe. This time, they want to sell the People’s Own Savings Bank (POSB) in a shady deal that has nothing to do with helping the country. It is just another plan to loot public money and give it to a few rich people who support the government.
The deal is very suspicious. The government wants to give POSB to a company called Hebrew Investment Group (HIG). This company is not well known. No one really knows who owns it or where it came from. Yet, President Mnangagwa and Attorney-General Virginia Mabiza are trying to push the deal forward without following the law. They even sent letters to POSB management, telling them what to do.
The deal involves $100 million and promises of a fake $6 billion loan to Zimbabwe. But this is not a real loan to help the people. It is just a cover-up to steal POSB. The sale is being done in secret, without going through the proper legal steps.
As a political activist, I speak out against this kind of corruption because it destroys our country. I use my voice to fight for democracy and justice. Zimbabweans deserve better. We cannot sit back while ZANU PF sells everything we own for their own gain.
The law in Zimbabwe is clear. Public assets like POSB cannot just be sold secretly. The Public Procurement and Disposal of Public Assets Act says that sales must be open, fair, and legal. There must be a shareholders’ agreement. The board of POSB must approve the deal. And there must be open tendering so everyone can see what is happening.
None of these rules were followed. There was no shareholders’ agreement. The board did not approve anything. And the sale did not go through any tender. ZANU PF simply ignored the law, as they always do.
We have institutions like the Procurement Regulatory Authority of Zimbabwe (PRAZ) and the Special Procurement Oversight Committee to stop this kind of corruption. But those institutions are now being ignored or used by ZANU PF to cover up their crimes.
The sale of POSB is not about helping Zimbabwe. It is about making a few people rich while the rest of the country suffers. People have no jobs. Hospitals have no medicine. Roads are full of potholes. Yet Mnangagwa and his team are busy selling a public bank in secret to a company no one knows.
Why is HIG the chosen buyer? Who are they? Why did they not go through a proper process? These are important questions. But the government does not want to answer them. They want to keep the people in the dark.
This is not the first time ZANU PF has done something like this. They have a history of looting public money. From diamonds to gold, from land to fuel, they have taken everything. Now, they want our bank too.
I write this article because I believe Zimbabwe must change. We need a government that respects the law, that is honest, and that puts people first. Not a government that sells everything in secret.
Zimbabweans must say no to this deal. We must stand up and fight for our rights. If we do not speak out, they will continue to steal from us. Our silence will give them power. But our voices can stop them.
This POSB scandal shows that Mnangagwa is not a reformer. He is part of the same old ZANU PF that destroyed Zimbabwe. We cannot trust him. We must demand answers. We must demand justice. We must defend our future.
The fight for democracy continues. And I will not stop speaking out until Zimbabwe is free from the hands of thieves.
This is how corruption works ,quietly, illegally, and shamelessly. If we don’t resist now, they’ll sell every state asset and leave us with nothing.
This is just another baseless attack on the government. Every time there’s a reform effort, you label it “corruption.” Selling POSB might actually bring much-needed investment. You claim to care about Zimbabwe, yet you oppose moves that could modernise our banking sector. Not every deal is a scandal, let’s give the process a chance.
Well said. The people deserve to know who is behind Hebrew Investment Group. We can’t allow national assets to be auctioned off behind closed doors.
Why should we trust anonymous “activists” over government leaders who have access to full information? This article is pure speculation dressed as fact. Criticising Mnangagwa won’t fix the economy. Instead of complaining, offer real solutions. Change doesn’t come from noise, it comes from action and loyalty to the country.
Thank you for sounding the alarm. This deal must be stopped before it’s too late. It’s time for Zimbabweans to rise and defend what belongs to the people.