Chivhayo Obatwa Achiba US$1.2million YeNyikaPolitical Reporter- Controversial businessman Wicknell Chivhayo has been implicated in defrauding the Zimbabwean state of US$1.2 million by charging exorbitant prices for an HP server that retails for approximately US$4,000.
Chivhayo, operating through his South African-based company, billed the Zimbabwe Electoral Commission (ZEC) over US$1.2 million for an HP server that costs about US$4,000.This revelation comes amid a fallout between Chivhayo and his business partners, Moses Mpofu and Mike Chimombe.
Reports indicate that Chivhayo secured contracts worth up to US$40 million with ZEC ahead of the August 2023 general elections.
These contracts were for the provision of tents, electronic devices, biometric hardware and software, ink, and training, among other essentials.
Mpofu and Chimombe, who are demanding US$10 million in lost earnings from Chivhayo, have released incriminating information against him.
This includes details of a deal involving the South African firm, Ren-Form. According to The NewsHawks, ZEC initiated a procurement process in February 2023 and specifically selected Chivhayo and his partners to supply critical electoral materials.
Chivhayo, in collaboration with Chimombe and Mpofu, used Better Brands Security (Pvt) Ltd, owned by Scott Sakupwanya, to enter an agreement with Ren-Form CC on February 13, 2023, for participation in Zimbabwe’s election tenders.
It is alleged that Chivhayo, conspiring with Ren-Form officials, later altered the agreement to exclude his business partners, thus securing 66% of the payments for himself.
The agreed procedure was for Ren-Form to invoice and receive payments from ZEC, then transfer Better Brands’ share into a South African bank account.
This arrangement left Chimombe and Mpofu enraged.
Leaked documents and invoices reveal that the South African company provided ZEC with an HP Proliant DL380 Gen 10 server, invoiced at US$1,264,865.
However, the same server is priced at $4,695 on Amazon, indicating that Chivhayo overcharged ZEC by more than US$1,260,000.
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A home equity loan gives you a lump sum of money with a fixed interest rate and fixed monthly payments. This can be useful for one-time expenses such as home renovations, medical bills, debt consolidation, or major repairs.
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A HELOC works more like a credit card. You get access to a credit line and can borrow as needed during the draw period. HELOCs often have variable interest rates, which means your payment can change over time.
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The best choice depends on your needs. If you know exactly how much money you need and want predictable payments, a home equity loan may be better. If you want flexibility and do not need all the money at once, a HELOC may be a better fit.
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Both options use your home as collateral. This means if you cannot repay the loan, your home could be at risk. That is why you should borrow carefully.
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Home equity financing may be used for home improvements, which can increase property value. However, using home equity for vacations, luxury purchases, or short-term spending can be risky.
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Before applying, compare interest rates, fees, repayment terms, minimum payments, and closing costs. Also ask whether the rate is fixed or variable.
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Your credit score, income, debt, home value, and available equity will affect approval.
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A home equity loan and HELOC can both be powerful financial tools, but they should be used responsibly. The right choice depends on whether you need stability, flexibility, or a combination of both.
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Brain injuries may happen in car crashes, falls, workplace accidents, sports injuries, assaults, or truck accidents.
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Symptoms may not appear immediately. Headaches, dizziness, confusion, nausea, light sensitivity, and mood changes should be taken seriously.
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These cases require strong medical evidence. Doctors, neurologists, therapists, and life-care experts may help explain the injury’s impact.
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