Africa-Press – Zimbabwe. Suckson Makwasha Muskwe, the former managing director at the State -controlled Infrastructure Development Bank of Zimbabwe (IDBZ), Suckson Makwasha Muskwe has denied allegations that he has gone into hiding after allegedly siphoning US8$ million from the financial institution.
Speaking through his lawyer Tungamirai Chakurira following media reports that he is on the run, Muskwe said he formally left Zimbabwe in February to pursue other business interests outside the country, adding he will soon be coming back to clear his name.
and has no reason to run away from authorities.
Muskwe says he left his job at IDBZ amicably in December last year, and sees no reason in running away from the authorities.
He claims the fraud allegations were likely being raised by people who failed to do their projects properly.
The former top banker is being accused of siphoning more than US$8 million from the bank in connivance with contractors on the bank’s flagship Bulawayo students accommodation project.
Muskwe told NewsDay Live that he was shocked by recent media reports alleging that he went into hiding after being interrogated was alongside other IDBZ executives in August this year.
He said contrary to the claims, he has not spoken to anyone from the police or the bank after leaving his employ in December 2024, and was last in Zimbabwe on February 3 this year.
“I was never interrogated and never contacted. Unless there is another Muskwe they are talking of. I left Zimbabwe on the 3rd February and until now I have not returned home,” Muskwe said through his lawyer.
“I categorically deny every allegations. If someone claiming that can present proof of a written transaction, that would help, otherwise, anyone can say anything against someone.
“If these allegations are true, why was the complainant silent for months or years? Issues should have been reported as they occurred. There are many channels for reporting, such as police, Zimbabwe Anti-Corruption Commission (ZACC), IDBZ, and even government offices. Tangible evidence is necessary, not a false claim meant to tarnish my reputation.
“I suspect these are individuals who failed the project and were either fired or removed from the site,” Muskwe said.
Muskwe said the appointment of suppliers was not solely responsibility of the managing director but the process involved consultants and contractors.
“lt was a collective effort, not a one-person task. My role as managing director was to approve contracts, recommend to the board for price adjustments, and authorisation of payments.
“The process of engagement of service providers, agreeing on prices and payment processes, was not done at my level. The quantity surveyor was the first point (of call) after the contractor, and the last was finance, and I do not believe that all the people in the process were just ignoring or scared to reveal the happenings during the duration of five years.
“This was a supply and delivery contract awarded to Hualong and they were in charge of hiring sub-contractors and suppliers. Hualong was recieving payments and then pay subcontractors. Approval of payments was not a single person task,it was a chain, and eight-level process flow.
“There was involvement of contractor, quantity surveyor, consultant, architect/lead consultant, managing director, accounts, procurement director, and finance- Payment,” Muskwe said.
The Bulawayo Student Accommodation Complex was launched in 2019 with a US$12 million budget and commissioned by President Emmerson Mnangagwa last year.
The costs eventually ballooned to nearly US$17,5 million, officially due to design changes and inflationary pressures.
However, according to recent media reports, police suspect part of the increase was engineered to mask fraud.
Muskwe said the reasons for costs to balloon were as a result of poor planning at the initial stages over land compliance issues.
He said when they joined the project, it had a variance of US$314 000 due to poor planning. He added that the IBDZ website carries a public document clearly stating issues and challenges faced by the project.
Muskwe also laughed off allegations that he acquired over 28 properties using money stolen from his former employer.
“The claim of 28 properties is lie that must be dismissed. There is no such, when I joined the bank l was coming from United Nations where I was working in Palestine, Israel, Syria and Afghanistan. Even if you are to combine the number of rooms for all my properties including doors and windows combined , they will not reach that number,” Muskwe said.
The former banking executive said he was surprised that even the properties he bought before his employment with the bank were flagged as proceeds of crime.
“I am shocked to find out that some of my properties, which I bought in 2007, is being attached to allegations that is really unfounded and leave a lot to be desired.
“Someone needs to tell me if I have to explain all my acquisitions even before joining the then-employer,” Muskwe said.
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