In a significant development, South African authorities have launched an investigation into Zimbabwean businessman Wicknel Chivhayo, following allegations of financial misconduct linked to a recent multi-billion dollar transaction involving the Zimbabwean government.
Reports indicate that Chivhayo’s bank accounts in South Africa have been frozen pending further inquiries into the legitimacy of his financial dealings.
The investigation began after Zimbabwe transferred a staggering $1.1 billion to a South African company (Ren-form CC), prompting concerns over the subsequent transfer of $800 million to Chivhayo.
This transfer raised red flags among South African financial regulators, who acted swiftly to freeze Chivhayo’s accounts.
Chivhayo allegedly used the funds for personal expenditures, including luxury items such as high-end makeup, lavish flights, and expensive vehicles.
According to We Dug Up South Africa has reached out to the FBI, alerting them to the situation and seeking assistance in probing the intricate web of transactions involving Chivhayo.
Chivhayo, known for his prominent presence in Zimbabwe’s business landscape, has not yet publicly responded to the allegations.
