Businessman Maphosa’s e-money transfer deal collapses, relationship with Mnangagwa gets frosty

SOUTH AFRICA based businessman Justice Maphosa is reportedly in a nasty fall out with President Emmerson Mnangagwa, resulting in the tumbling of his proposed electronic money (e-money) transfer deal said to have been at an advanced stage.

The Big Time Holdings founder was at advanced stages of introducing an e-money transfer platform to replace Paynet.

His e-money platform had already conducted a test-run and was said to be at the brink of rolling out operations before the latest interventions.

“After the withdrawal of Paynet, players like John Mushayakavanhu wanted to come in but Maphosa was the frontrunner, reportedly on account of his cordial relations with the President. He was, however, elbowed out after his fall out with Mnangagwa following accusations he was now aligned to Vice President (Constantino) Chiwenga,” an impeccable source told Zim Morning Post.

Maphosa is famed for sheltering Mnangagwa when he fled the country to South Africa in 2017 in the run up to the military takeover which saw the late President Robert Mugabe ejected from power.

Mnangagwa stayed at Maphosa’s house in South Africa for two weeks as he plotted his next move.

While on the run in 2017, Mnangagwa went to South Africa through Mozambique while in the company of his nephew, Tarirai Mnangagwa.

This was after his supposed friend, Zunaid Moti, developed cold feet on offering him a  jet that would fly him to South Africa as he wanted to protect his interests in Zimbabwe, in which he also had a partnership with Kudakwashe Tagwirei at Amalgamated Chrome Fields.

Mnangagwa and Moti: Pic credit: Business Times

Maphosa, speaking through his spokesperson, Alson Dakarai, could neither confirm nor deny the development.

“Well, we will not comment on that matter; we refer you back to your source,” Dakarai said after consultations with his principal.