POSB SCANDAL EXPOSES ZANU PF’S NEVER-ENDING PLUNDER OF PUBLIC RESOURCES

The corrupt ZANU PF government has done it again. This time, it is the People’s Own Savings Bank (POSB) that they tried to sell in a dirty and secret deal. The planned sale of this public bank to a little-known private group called Hebrew Investment Group (HIG) is nothing but a grand theft from the people of Zimbabwe.

This scandal involves a $100 million sale of POSB to HIG, in exchange for a so-called $6 billion loan to the government. But this deal was done without following the law. President Emmerson Mnangagwa gave the order. Attorney-General Virginia Mabiza got involved. Letters were sent to POSB management. But the law was ignored completely.

Zimbabwe has clear laws that protect public assets. The Public Procurement and Disposal of Public Assets Act [Chapter 22:23] says any sale of public property must be done openly and fairly. There must be a shareholders’ agreement. The board of the company must agree. There must be a proper tender process where other buyers can bid. None of these things were done.

No shareholders’ agreement was made. The board of POSB was not even asked. The law was broken, and the deal was done in the dark. This is not just bad governance. It is a crime.

The job of the Procurement Regulatory Authority of Zimbabwe (PRAZ) is to make sure all public procurement is honest and fair. There is even a Special Procurement Oversight Committee to stop such shady deals. But all these bodies were ignored by Mnangagwa and his corrupt team. They went ahead with the deal anyway.

Selling POSB without any open tendering shows this was never about helping the country. It was about helping themselves. It was about stealing from the people to make the rich even richer. While millions of Zimbabweans are poor and hungry, Mnangagwa’s team is busy selling state assets behind closed doors.

The company they want to sell to — HIG — is a mystery. Who owns it? What work have they done before? Why were they chosen? No one knows. And that is the biggest problem. This is how ZANU PF always works — in the shadows, with lies, and with dirty money.

This deal reminds us of many other scams in the past. ZANU PF has stolen land, diamonds, gold, and now a public bank. They do not care about the law. They do not care about the people. All they care about is how to stay in power and get rich.

Mnangagwa wants people to believe he is a reformer. But this deal shows he is just like the old ZANU PF leaders before him. He says the right words in public, but behind the scenes, he is looting the country. He is not fixing Zimbabwe — he is selling it piece by piece.

The people of Zimbabwe must not stay silent. This is our money. This is our bank. This is our future. We must speak out and demand answers. Who approved this sale? Why was the law not followed? Why is everything being done in secret?

Mnangagwa and his government cannot be trusted. They have proven time and again that they only serve themselves. We cannot let them sell off our country. We must stop this heist before it is too late.

The sale of POSB is not just another scandal. It is a symbol of everything that is wrong with ZANU PF. It shows their greed, their lawlessness, and their disrespect for the people. If this deal is allowed to happen, no public asset will be safe.

The people must rise. We must demand justice. We must stop the looting. Zimbabwe belongs to us all — not to a small group of thieves in government. The future of our nation depends on what we do now.