Masawara acquisition of BP assets raises eyebrows

A few weeks ago, Masawara, a London Alternative Investment Market listed company acquired the assets of BP and Shell in Zimbabwe with a deal set to go through subject to regulatory approval.

For those who don’t know, Masawara is a Jersey registered investment company focussed on acquiring interests in companies and projects based in Zimbabwe and the southern African region. Well at at least that what they say on their site.

One if the investors in this fund is TA’s Shingi Mutasa. While many people see Mr Mutasa as a straight-batter others have voiced concern over the deal.

Some who like to refer to themselves as defenders of indeginsation viz a viz the 51% control feel that this is a deal that is structured to circumvent that.

While there may be some truth to that which we cannot corroborate because we are not privy to the deal.

In the local rag a couple of local players also voiced concern over whether this deal actually served the interest of Zimbabweans.

I am not sure how this interests are defined in all fairness as it seems Masawara’s investments seem to all be primarily in Zimbabwe. Essentially it means Zimbabwe benefits.

We’ll be keeping a close eye on this one.