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Prominent Zanu-PF financier dies

A PROMINENT Zanu-PF financier Jayan Joshi has died.

Details were still sketchy last night, but Information permanent secretary Ndavaningi Mangwana said Joshi died in London yesterday.

"We have learnt with sadness the passing on of Mr JC Joshi in London at 1515 today. The Joshi Brothers, JC and MC, both now late, formed Zidco Holdings as a joint venture with Zanu-PF. Some of its most visible investments are Catercraft and Tregers in Bulawayo. MHSRIP," he tweeted.

The Joshi family which provided financial and other support to Zanu during the liberation war was given the mandate to run the party's companies in the early 1980s.

However, in 2004 then Zidco directors Joshi, Manharlal and Dipak Pandya, fled to Britain and disposed of their assets and properties Zimbabwe after the Zanu-PF politburo set up a committee to probe companies linked to or owned by the ruling party.

The trio was suspected of misappropriating funds from Zidco Holdings and its subsidiaries, among them FBC Bank, Treger Holdings, Ottawa, Catercraft, Zidlee Enterprises and Jongwe Printing & Publishing.

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