The corrupt ZANU PF regime has once again exposed its rotten core by attempting to sell the People’s Own Savings Bank to a mysterious and suspicious outfit called Hebrew Investment Group. This is not just another scandal. It is a full-blown heist orchestrated from the very top, with President Emmerson Mnangagwa himself issuing directives and Attorney-General Virginia Mabiza playing an equally dubious role in pushing this illegitimate deal. Letters were sent to POSB management to initiate the process. Laws were ignored. Institutions were bypassed. The people of Zimbabwe were betrayed.
This is about much more than just a $100 million transaction. It is the deliberate handover of a vital state-owned financial institution to shadowy interests in exchange for a so-called $6 billion loan. But behind that fancy figure lies a dangerous pattern. A public asset is being sacrificed on the altar of greed. This was never about development or reform. It was about looting. And once again, it is the poor Zimbabwean who pays the price.
There are clear laws in Zimbabwe that govern the sale of public assets. The Public Procurement and Disposal of Public Assets Act is there for a reason. It demands transparency. It requires oversight. It insists on fairness. That means any deal of this nature must go through a proper tendering process. It must be backed by a shareholders’ agreement and approved by the board. None of this happened. None. This entire transaction was cooked in the shadows and forced down the throats of POSB officials by the highest offices in the land.
The law is not optional. The Procurement Regulatory Authority of Zimbabwe exists to make sure public procurement is honest and cost-effective. There is even a Special Procurement Oversight Committee tasked with preventing exactly this kind of abuse. But Mnangagwa and his cartel bulldozed through every safeguard, proving once again that they believe they are above the law.
No one can pretend this was a legitimate business deal. It was a classic ZANU PF looting operation. There was no open bidding. No public consultation. No economic justification. Just a group of connected elites trying to siphon off a public institution under the guise of investment. Meanwhile, Zimbabweans are queuing for bread. Clinics have no medicine. Schools are falling apart. But these criminals think selling a people’s bank is fair game.
And who exactly is Hebrew Investment Group? What is their history? What do they know about banking? What guarantees are they offering to protect depositors? Zimbabweans are being kept in the dark because this deal was never meant to be public. It was meant to be done in silence, behind closed doors, with fat bribes and forged papers. Just like all the other scams ZANU PF has cooked up over the years.
This scandal shows once and for all that Mnangagwa is not a reformer. He is not a new dawn. He is a liar leading a mafia government that feeds on public resources and spits out poverty. There is no rule of law. No justice. Only theft wrapped in official letters and presidential directives. Zimbabwe deserves better.
The people must rise. We cannot allow this daylight robbery to continue unchecked. We must speak out. We must demand answers. We must say no to the criminal sale of POSB. We must demand that those responsible be brought to justice. Enough is enough. If we stay silent, they will sell everything until there is nothing left to call our own. Our future depends on what we do now. The time to act is now.
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