Ex-President allegedly looted $1bn, acquired car worth more than Zimbabwe's economy

dimeji akinloye

November 23, 2017 8:16 PM

Mugabe, who tendered his resignation letter on Tuesday following a military coup, was said to have agreed step down in exchange for immunity.

Former Zimbabwean President,

Mugabe, who tendered his resignation letter on Tuesday, November 21, following a military coup last week, was said to have agreed step down in exchange for immunity.

The 93-year-old was said to have accumulated significant wealth during his 37-year rule.

According to local media, a small part of his fortune was reaped from Zimbabwe's diamond deposits.

Mugabe owns the Zimbabwe Consolidated Diamond Co.

He was repeatedly accused of stealing from the country's coffers, while he also allegedly acquired 15 acres of land during land seizures in 2000.

A 2001 US diplomatic cable, which was later released by the whistle-blowing organisation WikiLeaks, said that Mugabe has about $1.75 billion worth of assets, mostly invested outside Zimbabwe.

According to the report, Mugabe's assets "include everything from secret accounts in Switzerland, the Channel Islands and the Bahamas to castles in Scotland."

Opposition politicians have claimed that the Mugabe family own 14 farms in the bankrupt country, which would be in contravention of the constitution, which limits land holdings.

The best known is the Omega Dairy farm, one of the largest dairy farms in southern Africa.

Mugabe reportedly purchased a $5.2 million mansion in Hong Kong in 2013 and also owns Hamilton Palace in Sussex, UK, which was estimated to be worth about $40 million before it became a construction site.

The hated Zimbabwean leader is also said to own a custom-built Mercedes Benz s600L that is able to withstand AK-47 bullets, landmines and grenades.

It also features a CD and DVD player, internet access and anti-bugging devices.

A report by The Citizen claimed that Mugabe also owns a Rolls-Royce Phantom IV - a colonial-era British luxury car so exclusive, only 18 were ever manufactured.

The vintage black car is estimated to be worth more than Zimbabwe's entire GDP.

dimeji akinloye