Zimbabwean President Emmerson Mnangagwa has sparked controversy and drawn international attention by appointing Kudakwashe Tagwirei, a prominent businessman currently under sanctions by the United States and the United Kingdom, as the new Minister of Economic Development and Investment Promotion. The appointment, announced on Thursday, October 8, 2026, took immediate effect and saw the previously combined Ministry of Finance and Economic Development split into two portfolios. Finance Minister Mthuli Ncube retains the Finance Ministry.
Key Players Involved
- President Emmerson Mnangagwa: Made the controversial appointment, splitting the finance ministry.
- Kudakwashe Tagwirei: Appointed Minister of Economic Development and Investment Promotion; a tycoon sanctioned by the US and UK for alleged corruption.
- Mthuli Ncube: Retains his position as Minister of Finance.
Event Timeline
- October 8, 2026: President Mnangagwa officially announces Kudakwashe Tagwirei’s appointment as Minister of Economic Development and Investment Promotion.
- July 2026: Constitutional Amendment No. 3, which Tagwirei reportedly backed, was signed into law, extending presidential and parliamentary terms.
- 2020/2021: Tagwirei was sanctioned by the US and UK over allegations of corruption and benefiting from opaque business dealings with politically connected figures.
