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April 14, 2010
Russian billionaire denies Mugabe links despite CBZ shares
SW Radio Africa News
Investigations by Newsreel show that Prokhorov, through his Renaissance Capital investment bank, snapped up a significant shareholding in the government owned Commercial Bank of Zimbabwe Holdings in 2007. The shares were bought from South Africa’s ABSA. The following year in 2008 they purchased a further 15 percent stake in CBZ, buying shares from the Libyan Arab Bank. Analysts at the time said Renaissance Capital was consolidating its shareholding in CBZ through block share purchasing.
The saving grace for Prokhorov, as exiled investment banker Gilbert Muponda explains, is that CBZ Holdings is not on the US targeted sanctions list.
Posted by eric at April 14, 2010 10:29 AM