By Parliament Reporter –Finance Secretary George Guvamatanga—long nicknamed “Mnangagwa’s banker” for his iron grip on Zimbabwe’s public purse—has once again dodged parliamentary scrutiny over a string of murky, high-value payments, including controversial tenders involving the Zimbabwe Electoral Commission (ZEC) and politically connected mogul Wicknell Chivayo.

Guvamatanga on Monday snubbed the Public Accounts Committee (PAC) for the second time in as many weeks, raising suspicions about a massive financial scandal involving more than US$400 million in questionable direct payments. 

Lawmakers are now threatening to issue legal summons to force his attendance.

$400 Million in the Shadows

The committee, chaired by Kuwadzana MP Charlton Hwende, is investigating unauthorised Treasury payments to companies outside the official government procurement and ministerial oversight systems, in violation of the Public Finance Management Act.

One of the largest recipients was Ren-Form CC, a South African firm controversially selected—without public tender—to print election materials for ZEC ahead of the disputed 2023 general elections.

Financial documents from South Africa reveal that Ren-Form received over R1.2 billion (approximately US$65 million) from Zimbabwean taxpayers. 

Alarmingly, investigations suggest that R800 million (US$43 million) may have been diverted to companies and accounts linked to Wicknell Chivayo, whose ostentatious displays of wealth have drawn public ire.

Sources familiar with the transactions allege that the payments were fast-tracked and approved by Guvamatanga, despite the absence of competitive bidding or Parliamentary oversight.

Guvamatanga’s ‘Final Warning’

“This is the last opportunity,” Hwende told journalists on Monday. “If Guvamatanga doesn’t appear before PAC on Friday, summons will be issued through the Clerk of Parliament. There must be accountability for how public funds are being used.”

The committee is also expected to summon Finance Minister Mthuli Ncube to determine whether the Treasury’s so-called “direct payments” system has become a tool for political patronage, circumventing accountability mechanisms.

The Expanding List of Beneficiaries

In addition to Ren-Form and Chivayo, the PAC has demanded all Treasury documentation related to direct payments made to a list of other politically connected companies and individuals, including:

• Fertilisers Seed Grain (FSG)
• Ziminya Dam Construction
• Ventures Borehole & Exploration
• Makomo Engineering
• Semwa Dam
• Nyika Kanengoni & Partners, a law firm that controversially received US$600,000 while representing ZEC.

Sources inside Parliament suggest that the scale and pattern of these disbursements point to a centralized system of financial control under Guvamatanga, enabling him to fund politically strategic contracts with minimal scrutiny or Cabinet approval.

The Chivayo Connection

Wicknell Chivayo has a long and controversial history with the Zimbabwean government. A convicted fraudster turned millionaire, Chivayo previously secured lucrative energy contracts—including the Gwanda Solar Project—worth hundreds of millions, without fulfilling basic deliverables. 

His renewed visibility in government-linked deals, particularly those tied to the 2023 elections, has reignited concerns about elite corruption and unchecked political patronage.

Insiders say Chivayo acted as a “proxy operator” for election logistics, receiving public funds funneled via foreign contractors like Ren-Form. 

This money trail, critics argue, suggests that Zimbabwe’s electoral processes have been effectively captured by shadow financiers operating under the guise of government contracts.

Lavish Lifestyle Amid Economic Collapse

Guvamatanga’s refusal to account for these payments has also turned the spotlight on his accumulated wealth, which many Zimbabweans say is grossly inconsistent with his official salary.

Investigations have linked him to several high-end properties in South Africa, including an R18 million mansion in Sandton, one of Johannesburg’s wealthiest enclaves. 

He is also suspected of purchasing luxury vehicles—such as a Mercedes-Benz G63 AMG and a Porsche Cayenne—for women linked to him, using proxies to obscure ownership.

Social media has been awash with footage of Guvamatanga hosting lavish parties, donning designer watches, and flying aboard private jets—all while civil servants in Zimbabwe face salary delays, pension shortfalls, and deteriorating working conditions.

Shielded by Mnangagwa?

Despite mounting evidence and public outrage, Guvamatanga remains untouchable, sources in Zanu PF say. 

He is reportedly part of a tight inner circle managing Mnangagwa’s campaign finances and covert election logistics, giving him enormous influence—and immunity.

Analysts warn that his case illustrates how financial control is now central to political survival in Zimbabwe, with Treasury increasingly weaponized to fund election campaigns, silence critics, and reward loyalists.

“The rot in public finance management is no longer an accident,” one analyst said. “It is by design, and Guvamatanga is at the heart of it.”