How Wicknell Chivayo Spent R800 Million Received from South African Firm for Facilitating R1.1 Billion ZEC Tender
Controversial businessman Wicknell Chivayo is once again in the spotlight; this time over shocking revelations that he received more than R800 million out of the R1.1 billion paid by Zimbabwe’s Ministry of Finance to a South African company contracted to supply election materials.
Wicknell Chivayo Received Over R800 Million From R1.1 Billion Paid to South African Firm
According to an explosive report by South Africa’s Financial Intelligence Centre (FIC), the staggering amount was quietly funneled into bank accounts belonging to Chivayo’s companies, including Intratrek Holdings and Dolintel Trading Enterprise, shortly after the payments were made by Zimbabwe’s treasury.
The financial trail was uncovered during a deep dive into Ren-Form CC’s bank accounts between April 5, 2023, and May 16, 2024. Ren-Form, the South African firm awarded the controversial election contract, received over R1.16 billion (US$61 million) from Zimbabwe, paid into its two accounts held at Standard Bank.
But what happened next raised serious red flags. The FIC flagged rapid movement of funds, with more than R800 million quickly transferred from Ren-Form to Chivayo’s companies. A further R156 million was paid directly by the Finance Ministry into another Chivayo-linked firm, Edenbreeze, supposedly for “architectural, engineering and other technical services.”
The FIC has since submitted its findings to Zimbabwe’s Financial Intelligence Unit, the South African Revenue Service, and the South African Police Service for urgent investigation, documents seen by ZimLive reveal.
How Chivayo Spent the Money Received for Facilitating Tender
The money didn’t stay in Chivayo’s company accounts for long. The report details a flurry of “significant payments” made from the accounts—many to his personal banking profile and others to a variety of businesses, luxury vendors, and service providers.
From one personal account alone, Chivayo is reported to have spent over R36 million—mostly on cars.
The list of beneficiaries reads like a who’s who of flashy spending. Asibambeki Platinum Group, linked to one Emmanuel Musanyenda, received a staggering R351 million. Others included:
- Agile Venture Capital
- Makopah Holdings
- Platinum Group
- WMC Trading
- Opened 4 All Trading & Projects
There were also payments to high-end businesses and firms such as:
- Strauss Scher Inc (R4 million) – a law firm
- Daytona (R5.4 million) – luxury car dealership
- Flight Centre South Africa (R1.6 million) – travel expenses
- NN Truck and Trailer (R5.6 million)
- Christian by Hadassah (R1 million) – Zimbabwean makeup brand
- Kumba Group (R28.8 million)
- Indo Logistics (R9.4 million)
The FIC noted the suspicious nature of the transactions, flagging numerous “round amounts”, luxury purchases, and activity that didn’t match the profile of the account holder.