Finance Secretary Guvamatanga Explains Source Of Wealth After Private Jet Pictures Emerged

The Permanent Secretary in the Ministry of Finance and Economic Development, George Guvamatanga, has said he got most of his wealth from the private sector where he worked for over 30 years.

He speaks after some Zimbabweans have expressed anger on social media when it emerged that Guvamatanga had hired a South African private jet to take his family to Victoria Falls to celebrate overcoming coronavirus.

Some recalled reports that he had authorised a government deal with Drax International that prejudiced the state of over US$60 million insinuating that the paymaster was abusing state funds. In a statement issued Monday, Guvamatanga said:

I spent 30 years with Barclays Bank of which 23 of those was as senior executive and 10 years as the chief executive officer. It is known in the market that when I left I was paid a package running into millions of United States dollars.

It is also important to note that I left after having successfully put together and led a consortium of managers (at Barclays Bank Zimbabwe) that wanted to acquire the bank and had secured funding for that, although Barclays Plc opted for another buyer.

The public had expressed concern over his lavish lifestyle when the country is willowing in poverty with workers constantly embarking on industrial action over poor salaries and working conditions.

More: The Herald