in Southern AfricaZimbabwe

Zimbabwe’s Kingpin former Trafigura partner added to the U.K’s sanctions list

The United Kingdom  Foreign, Commonwealth and Development Office (FCDO) on Thursday 22 July, released a list of sanctioned individuals ranging from Zimbabwe, Iraq and Equatorial Guinea. 

Teodoro Obiang Mangue the son of the Vice President of Equatorial Guinea was sanctioned for misappropriating millions of dollars which according to the FCDO were spent on luxury mansions, private jets and a $275,000 glove that Michael Jackson wore during the “Bad” tour. 

Zimbabwean national Kudakwashe Regimond Tagwirei was sanctioned for what the U.K. government accused him of profiting from misappropriation of property when his company, Sakunda Holdings, redeemed Government of Zimbabwe Treasury Bills at up to ten times their official value. His actions accelerated the deflation of Zimbabwe’s currency, increasing the price of essentials, such as food, for Zimbabwean citizens.

Foreign Secretary Dominic Raab said: The action we have taken today targets individuals who have lined their own pockets at the expense of their citizens. The UK is committed to fighting the blight of corruption and holding those responsible for its corrosive effect to account. Corruption drains the wealth of poorer nations, keeps their people trapped in poverty and poisons the well of democracy.

Britain sanctioned three other individuals;  Alex Nain Saab Morán and Alvaro Enrique Pulido Vargas from Venezuela and Nawfal Hammadi Al-Sultan from Iraq.

(Reported and Written By Brian Lunga Edited Bensen Thomas)

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