Of late the Zimbabwe Manpower Development Fund (ZIMDEF) has been caught in a storm of controversy with its Senior Official under investigation for allegedly siphoning hundreds of thousands from the organisation. In the midst of this storm, the organization has outted up one of its prime properties, Kuwirirana House, on the market for sale. The property has been put on the market for $1.7 million according to the advert put out by the local real estate agents tasked with the big sell of the building, Knight Frank.
An unamed source at the said real estate agent – Knight Frank indicated that the building was selling below it’s market value, ”the building is worth more than the price tag its been given but I cannot give you a figure.” he said. This might suggests that Zimdef is in dire need of a quick sale to source funds.
According to the Herald, the property is being sold to raise capital to fund other projects. The building is situated along George Silundika avenue in the Harares CBD. The advert by Knight Frank states that the building carries 892m² of office space, 362m² of shop space and 654m² of land area. At the time of publishing, phone lines at Zimdef’s Head office were going unanswered. Minister Jonathan Moyo, under whose ministry Zimdef falls, is under investigation for allegedly using Zimdef funds to fund personal investments. Under investigation, along with the Minister, are his deputy Dr Gandawa, Mr. Hozheri as well as Mr. Mapute who is Zimdef’s principal director of finance.