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WATCH: General SB Moyo cornered over Tagwirei's buses

by Mandla Ndlovu
18 Jul 2020 at 11:50hrs | Views
Minister of Foreign Affairs and International Trade Rt Major General Sibusiso Busi Moyo was cornered by a DW reporter recently and put to task over the S$54 million from the bus deal that involved controversial businessman Kuda Tagwirei of Sakunda Holdings.

During the interview the host asked Moyo why the state has not investigated the buses which were procured by Tagwirei's Landela Investments and resold to government.

The Minister was seemingly caught off guard and he stammered saying, "I cant hear you…"

Eventually he responded that the transcation was above board and negotiated through the local representative of the Chinese company.

Watch the video below:

According to reports, through his company Landela Investments, Tagwirei will import 500 additional buses for mass public transportation at a unit price of US$58 900 from Xiamen Golden Dragon Bus Company in China. He will then sell each bus to the government for US$212 962.

The landing cost of each bus, including transportation, duty, tax and clearing, will be US$104 147, meaning the company will make a profit exceeding 100%, at US$108 815 per bus.

In total, Landela will rake in a profit of US$54 million from the bus deal. The government will pay Tagwirei's company a total of US$106,4 million.

Source - Byo24News