Divorce Lawsuit Reveals General Chiwengas Hidden Wealth

By Staff Reporter
|
15809
|
March 11, 2020

Vice-president Constantino Chiwenga is demanding a refund of US$245 428 paid into his estranged wife, Marry Mubaiwa’s bank account as proceeds from his hunting concessions as the fight for properties exposes the lifestyles of Zimbabwe’s rich political masters.
Chiwenga’s lawsuit shows the extent of the couple’s property holdings previously kept under wraps. The two are fighting for several properties and even small items acquired during their nine-year marriage, which has irretrievably broken down after Chiwenga accused Mubaiwa of trying to kill him while he was hospitalised in South Africa last year.

The two are also fighting over Orchid Farm in Domboshava.

Chiwenga says the property must be shared equally between the parties, with the former army commander exercising the right to buy out Mubaiwa after a valuation by an independent evaluator within 30 days of granting of a court order.

“Further, the parties purchased two large capacity events tents located and stored at Orchid Farm and the plaintiff prays that the parties get one tent each.

“Further, the plaintiff prays that the defendant be awarded all moveable household utensils located in the kitchen and the bed found in the bedroom located at 614 Nick Price drive, Borrowdale Brooke, Harare that the parties used during the subsistence of the marriage,” the papers read in part.

“Each party be allocated one large capacity events tent situated at Orchid Farm, Domboshava Road, Harare. Refund of US$245 428 paid into defendant’s bank account which she collected from plaintiff’s hunting concessions.”

In the papers, Chiwenga said he was “fit and healthy”, hence better placed to take care of the two’s minor children as he, unlike the former top model, had no drug abuse problems.

“On the other hand, the plaintiff is better poised to take better care of the minor children in that he is fit and healthy with no drug addiction problems. Plaintiff can better cater for the needs of the children as he is gainfully employed and has suitable comfortable accommodation to ensure that the lives of the children are not affected with the divorcing of the parties,” Chiwenga said in the papers.

The two were married in 2011 and Mubaiwa was given a divorce token in November last year.

“The plaintiff acquired the following assets for the defendant, namely a property called stand 591 Borrowdale, Harare, also known as Stand 137 Borrowdale Brooke measuring 3 198 square metres, Land Rover Discovery, Range Rover Sport and a Ford Ranger pick-up truck.”

Chiwenga said he was not interested in these assets, hence Mubaiwa could have them.

The divorce proceeding with Mubaiwa revealed that the two had properties in South Africa, apart from a list of luxury and expensive cars that includes the Toyota V8 Land Cruiser, Mercedes-Benz E350, among others.

Chiwenga’s divorce with his former wife Jocelyn in 2014 also exposed Chiwenga’s wealth, with companies and vast tracts of prime land in the leafy Harare suburbs. He also owned an apartment in Malaysia, to add to the many houses in the country.

Apart from possessing many posh vehicles, the retired army general was revealed to own an extensive jewellery collection.

Category:
News
Financial

Info News

Cybersecurity Threats Continue Rising as More Businesses Move Online

Cybersecurity has become one of the most important priorities for businesses, governments, and individuals in the digital age. As more organizations rely on online systems, cloud computing, and digital communication, cybercriminals are becoming increasingly sophisticated in their attacks. Data breaches, ransomware incidents, phishing scams, and identity theft cases are rising worldwide, causing billions of dollars in financial losses each year.

rnrn

Businesses of all sizes are investing heavily in cybersecurity solutions to protect customer information and maintain operational security. Firewalls, antivirus software, encryption systems, and multi-factor authentication tools are now considered essential for modern organizations. Companies are also training employees to recognize suspicious emails and avoid common online scams.

rnrn

One of the biggest cybersecurity concerns is ransomware attacks. Hackers often target businesses, hospitals, schools, and government agencies by encrypting sensitive data and demanding payment to restore access. These attacks can disrupt operations for days or even weeks, creating serious financial and reputational damage.

rnrn

Small businesses are increasingly becoming targets because many lack advanced security systems. Experts recommend regular software updates, secure password management, and cloud backup solutions to reduce cyber risks. Consumers are also encouraged to protect personal information carefully while using online banking, shopping platforms, and social media networks.

rnrn

Artificial intelligence is now playing a major role in cybersecurity defense systems. AI-powered security tools can monitor network activity, detect unusual behavior, and respond to threats faster than traditional systems. However, cybercriminals are also using advanced technology to develop more complex attacks, creating an ongoing digital security battle.

rnrn

Governments around the world are introducing stricter data privacy regulations and cybersecurity laws to protect consumers and businesses. Experts believe cybersecurity careers will remain in high demand as digital threats continue evolving across industries globally.

Debt Consolidation Loans: Reduce Your Monthly Payments and Take Control of Your Finances

Managing multiple debts can quickly become overwhelming, especially when you’re juggling high-interest credit cards, personal loans, and other financial obligations. This is where debt consolidation loans can provide a practical solution. By combining multiple debts into a single loan with one monthly payment, borrowers can simplify their finances and potentially reduce overall interest costs.

rnrn

For many individuals, debt consolidation is not just about convenience—it’s about regaining control and creating a clear path toward financial stability. Whether you’re dealing with credit card balances or other unsecured debts, understanding how consolidation works can help you make smarter financial decisions.

rnrn

What Is a Debt Consolidation Loan?

rnrn

A debt consolidation loan is a financial product that allows you to combine several debts into one loan. Instead of making multiple payments to different creditors, you make a single payment to one lender.

rnrn

These loans are typically used to pay off high-interest debts, such as credit cards, and replace them with a loan that has a lower interest rate. This can reduce your monthly payment and make it easier to manage your finances.

rnrn

Borrowers often search for best debt consolidation loans to find options that offer competitive rates and favorable terms.

rnrn

How Debt Consolidation Works

rnrn

The process begins by applying for a loan that covers the total amount of your existing debts. Once approved, the funds are used to pay off those debts, leaving you with one loan to repay.

rnrn

This new loan usually comes with a fixed interest rate and a set repayment term, making it easier to budget. Instead of dealing with multiple due dates and varying interest rates, you have a single, predictable payment.

rnrn

Benefits of Debt Consolidation Loans

rnrn

One of the biggest advantages of debt consolidation is simplified payments. Managing one monthly payment is much easier than keeping track of several accounts.

rnrn

Another key benefit is the potential for lower interest rates. If you qualify for a loan with a lower rate than your existing debts, you can save money over time. This is especially helpful for individuals with high-interest credit card balances.

rnrn

Debt consolidation can also improve your credit score over time. By paying off existing debts and maintaining consistent payments on your new loan, you demonstrate responsible financial behavior.

rnrn

When Debt Consolidation Makes Sense

rnrn

Debt consolidation is most effective when you have multiple high-interest debts and a steady income to support repayment. It can be a good option if you are struggling to keep up with payments or want to simplify your financial situation.

rnrn

However, it’s important to avoid accumulating new debt after consolidation. Without proper financial discipline, you may end up in a worse situation than before.

rnrn

Types of Debt Consolidation Options

rnrn

There are several ways to consolidate debt, each with its own advantages:

rnrn

1. Personal Loans

rnrn

Unsecured personal loans are a common option for debt consolidation. They offer fixed rates and predictable payments.

rnrn

2. Balance Transfer Credit Cards

rnrn

These cards allow you to transfer existing balances to a new card with a low or 0% introductory interest rate.

rnrn

3. Home Equity Loans

rnrn

Homeowners may use equity in their property to secure a loan with lower interest rates. However, this option carries the risk of losing your home if payments are not made.

rnrn

4. Debt Management Plans

rnrn

Offered by credit counseling agencies, these plans help negotiate lower interest rates and create a structured repayment plan.

rnrn

Factors to Consider Before Applying

rnrn

Before choosing a debt consolidation loan, consider the following factors:

rnrn

Interest Rate: Ensure the new rate is lower than your current debts.
rnLoan Term: Longer terms may reduce monthly payments but increase total interest paid.
rnFees: Look for origination fees, prepayment penalties, and other costs.
rnCredit Score: Your credit score will impact your eligibility and loan terms.

rnrn

Carefully evaluating these factors helps you choose the best option for your financial situation.

rnrn

Common Mistakes to Avoid

rnrn

One common mistake is consolidating debt without addressing the underlying spending habits that caused it. Without changing your financial behavior, you may accumulate new debt.

rnrn

Another mistake is choosing a loan with unfavorable terms. High fees or long repayment periods can reduce the benefits of consolidation.

rnrn

Failing to compare lenders is also a risk. Shopping around for the best rates and terms ensures you get the most value from your loan.

rnrn

How Debt Consolidation Affects Your Credit

rnrn

Debt consolidation can have both short-term and long-term effects on your credit score. Initially, applying for a loan may result in a small decrease due to a hard inquiry.

rnrn

However, over time, consolidation can improve your credit by reducing your credit utilization and establishing a consistent payment history. Making payments on time is key to achieving these benefits.

rnrn

Tips for Successful Debt Consolidation

rnrn

To make the most of debt consolidation, follow these tips:

rnrn

Create a budget to manage your finances effectively.
rnAvoid taking on new debt while repaying your loan.
rnMake payments on time to build a positive credit history.
rnConsider working with a financial advisor for guidance.

rnrn

These steps can help you stay on track and achieve long-term financial stability.

rnrn

Final Thoughts

rnrn

Debt consolidation loans offer a practical way to simplify your finances, reduce monthly payments, and work toward becoming debt-free. By understanding your options and making informed decisions, you can take control of your financial future.

rnrn

While consolidation is not a one-size-fits-all solution, it can be a powerful tool when used responsibly. With the right approach, you can reduce financial stress and build a stronger foundation for long-term success.

rnrn

Financial experts recommend working with licensed lenders, certified credit counselors, and reputable financial advisors when considering debt consolidation. Professional guidance ensures better loan terms and long-term financial health.