Kuda Tagwirei exposed for corruptly cashing out USD

Business mogul Kuda Tagwirei was cashing out millions of USD at bank rate when the RTGS treasury bills had not matured.

The central bank governor John Mangudya corruptly allowed Tagwirei’s company to cash out large portions of a treasury bill he held before it matured, and unlawfully convert them into tens of millions of U.S. dollars.

Documents indicate Tagwirei’s staff repeatedly used treasury bills as a source of U.S. dollars which were extremely scarce in country.

In early 2020, Tagwirei used money he was grabbing to fund the acquisition of a key mining project by his company Landela Mining Ventures (Pvt) Ltd, a subsidiary of his holding company Sotic International that was set up in Mauritius in February 2019, the same month the RTGS was launched.