HomeLocalBotswana investors cry foul over Masvingo mine

Botswana investors cry foul over Masvingo mine

BY NQOBANI NDLOVU

A Botswana company has been ‘cheated’ of a gold mining concern by its local partners, who have allegedly politicised the issue and accused the investors of sponsoring MDC Alliance leader Nelson Chamisa.

Botswana’s Bradfix Investments denies the charges and accuses its local partners of fraud and elbowing them out from a Masvingo joint gold mining venture.

The company represented by its directors who are brothers Sarfaraz Ahmed Khan, Akbar Ali Khan, Abdur Razaaq Khan, Muneer Ahmed Khan entered into a joint venture agreement in April 2013 with their local partners Ragin Kassim and Chipo Machona.

This resulted in the birth of Bradfix Incorporated (Pvt) Ltd in April 2013. Under the agreement, Bradfix Incorporated Pvt (Ltd) was to mine and mill gold at Golden Hill mine in Ballymore farm, Mashava, Masvingo

Kassim was meant to transfer his gold claims known as Golden Hill mine registration numbers 8469, 8470, 8471, 8472 and 8473 into Bradfix Incorporated (Pvt) Ltd. In return, Bradfix Investments Pvt (Ltd) was to invest through connecting electricity and other amenities.

“This we did. Kassim transferred only 4 blocks except 8470 on which much of the investment is concentrated. We were not aware of this and Kassim now avers that we were trespassing on his claim, that which he didn’t transfer to Bradfix Incorporated as agreed, that on which most of our investment went on,” reads a letter to ZIDA dated July 16, 2021 written by Sarfaraz, one of the directors.

The Botswana investors are seeking ZIDA assistance in the renewal of the investment licence to protect   their investments.

Zida is responsible for the licensing of investors and was established in February 2020.

Bradfix says Kassim has fired all representatives of the Khan brothers from the mine to elbow out the Botswana investment firm from the mine.

“We also opine that it is within your good office (Zida) to assist the investors who would have been attracted successfully into the country. The drive is not only to attract investors but it should also be to ensure retention of the same to avoid disinvestment which will erode  all the gains made in making the country a safe and preferred investment destination.”

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