There is always a moment in any kind of struggle when one feels in full bloom. Vivid. Alive. One might be blown to bits in such a moment and still be at peace. Martin Luther King Jr. at the mountaintop. Gandhi dying with the name of God on his lips. Sojourner Truth baring her breasts at a women's rights convention in 1851. Harriet Tubman exposing her revolver to some of the slaves she had freed, who, fearing an unknown freedom, looked longingly backward to their captivity, thereby endangering the freedom of all. To be such a person or to witness anyone at this moment of transcendent presence is to know that what is human is linked, by a daring comparison, to what is divine. During my years of being close to people engaged in changing the world, I have seen fear turn into courage. Sorrow into joy. Funerals into celebrations. Because whatever the consequences, people, standing side by side, have expressed who they really are, and that ultimately they believe in the love of the world and each other - which is the foundation of activism.
- Alice Walker reflecting on working for peace
Thursday, March 6, 2008
Some inspiration
Let me not pray to be sheltered from dangers,
but to be fearless in facing them. Let me not beg for the stilling
of my pain, but for the heart to conquer it.
- Rabindranath Tagore
but to be fearless in facing them. Let me not beg for the stilling
of my pain, but for the heart to conquer it.
- Rabindranath Tagore
Monday, March 3, 2008
Lets Volunteer
After much prayer and fasting I have resolved to contribute in helping to resolve the challenges our beloved nation is facing. I hope 2008 will be the year God provides the divine intervention that Zimbabweans pray for .Zimbabwe is in desperate need to be delivered from the current false prophets who masquerade as turn-around experts. Because of such false prophets the suffering of Zimbabweans has been pro-longed.I am volunteering to assist the National Rescue mission under the "MAVAMBO. KUSILE. DAWN" project being led by Dr Simba Makoni.I believe Dr Makoni offers our nation an opportunity for a New Zimbabwe ,which guarantees its citizens security,prosperity and hope.Zimbabweans need to go out in their millions and vote for a New Zimbabwe
Sunday, March 2, 2008
The time is now
Cowardice asks, is it safe? Expediency asks, is it politic? Vanity asks, is it popular? But conscience asks, is it right? There comes a time when one must take the position that is neither safe nor politic nor popular, but he must do it because conscience tells him, it is right.
- Dr. Martin Luther King Jr.
- Dr. Martin Luther King Jr.
Get involved
Democracy isn’t a spectator sport. It’s government of the people and by the people – in other words, a political process that works only to the extent that we participate.
- Mary Robinson
- Mary Robinson
Brief Background
Gilbert Muponda is a Zimbabwe born entrepreneur currently living in exile.He holds a
B.Comm finance degree, Diplomas in Corporate and Structured Finance .In 2001 Gilbert
Muponda led a team of three young professionals who had a combined experience of 15 years
in the financial services industry to set up ENG Capital (PVT) LTD. The firm was set up
to serve a niche market in provision of advisory services, asset management, corporate
finance and private equity. It started as a greenfield operation financed by the founders
. He was the first victim of the Anti-graft political campaign meant to silence and
eliminate independent businesses deemed undesirable by the Government of Zimbabwe in
2003-4. ENG was closed and its assets parcelled out to politically well connected
individuals. Below is the group which Gilbert Muponda founded in Zimbabwe.
ENG CAPITAL GROUP UNITS
- ENG CAPITAL INVESTMENTS
- ENG ASSET MANAGEMENT
- ENG REAL ESTATE
- ENG NOMINEES PVT LTD
- ENG PRIVATE EQUITY
- ENG ADVISORY SERVICES
- ENG STRUCTURED FINANCE
MAJOR ASSETS
- Century Bank Holdings ( now CFX bank)
- Leasing Company of Zimbabwe,Century Asset Managers)
- Century Discount House
- Hybri Micro-Finance Institution
- Care Insurance
- RestCel Insurance
- Amalgamated Health Services
? (Harare West Hospital )
- 15% of OK Zimbabwe Limited
- 15% of Zimplow Holdings Limited
- 20% Medtech Holdings Limited
- Hornet Re-Insurancce
- Pearl Pension Fund Management
- Real Estate including ( Belgravia House,Thaine building)
B.Comm finance degree, Diplomas in Corporate and Structured Finance .In 2001 Gilbert
Muponda led a team of three young professionals who had a combined experience of 15 years
in the financial services industry to set up ENG Capital (PVT) LTD. The firm was set up
to serve a niche market in provision of advisory services, asset management, corporate
finance and private equity. It started as a greenfield operation financed by the founders
. He was the first victim of the Anti-graft political campaign meant to silence and
eliminate independent businesses deemed undesirable by the Government of Zimbabwe in
2003-4. ENG was closed and its assets parcelled out to politically well connected
individuals. Below is the group which Gilbert Muponda founded in Zimbabwe.
ENG CAPITAL GROUP UNITS
- ENG CAPITAL INVESTMENTS
- ENG ASSET MANAGEMENT
- ENG REAL ESTATE
- ENG NOMINEES PVT LTD
- ENG PRIVATE EQUITY
- ENG ADVISORY SERVICES
- ENG STRUCTURED FINANCE
MAJOR ASSETS
- Century Bank Holdings ( now CFX bank)
- Leasing Company of Zimbabwe,Century Asset Managers)
- Century Discount House
- Hybri Micro-Finance Institution
- Care Insurance
- RestCel Insurance
- Amalgamated Health Services
? (Harare West Hospital )
- 15% of OK Zimbabwe Limited
- 15% of Zimplow Holdings Limited
- 20% Medtech Holdings Limited
- Hornet Re-Insurancce
- Pearl Pension Fund Management
- Real Estate including ( Belgravia House,Thaine building)
Fear and Differences
Let me not pray to be sheltered from dangers,
but to be fearless in facing them. Let me not beg for the stilling
of my pain, but for the heart to conquer it.
The problem is not how to wipe out all differences,
but how to unite with all differences intact.
- Rabindranath Tagore
but to be fearless in facing them. Let me not beg for the stilling
of my pain, but for the heart to conquer it.
The problem is not how to wipe out all differences,
but how to unite with all differences intact.
- Rabindranath Tagore
ACQUISTION OF CDH BY ENG
In 2002, ENG Capital applied for a banking licence. The application was quickly dismissed .Due to this failure ,in April 2003 ENG acquired Century Discount house as a strategy to enter the Banking sector. A cash consideration was paid. ENG then applied to the Registrar of Banks for the approval of change of shareholding structure. The approval was denied .
On further enquiring about the approval denial the Registrar ‘s officers mentioned that the approval will not be for the coming mainly because of ENG Directors age and unknown political background and views. They advised us to restructure our shareholding to accommodate politically acceptable individuals in addition to start being active in funding political activities that would maintain the status quo. This situation spelled a disaster for ENG as I was of the view that we should not be part of any arrangement that could compromise our reputation, image and market perceptions.
In the meantime the seller (Century Holdings) of Century Discount House was not in a position to refund ENG Capital of the purchase price paid. This forced ENG Capital to acquire a controlling stake in Century Holdings ,which was listed on the Zimbabwe Sock Exchange. This at least limited the potential loss since the purchase of Century Discount House was now an inter-company transaction. Obviously the refusal to restructure the shareholding to accommodate those politically correct and the refusal to being active in funding political activity didn’t please those who felt it was their God given right to receive support from any and all companies operating in the country. This independence was viewed as being lack of gratitude.
On further enquiring about the approval denial the Registrar ‘s officers mentioned that the approval will not be for the coming mainly because of ENG Directors age and unknown political background and views. They advised us to restructure our shareholding to accommodate politically acceptable individuals in addition to start being active in funding political activities that would maintain the status quo. This situation spelled a disaster for ENG as I was of the view that we should not be part of any arrangement that could compromise our reputation, image and market perceptions.
In the meantime the seller (Century Holdings) of Century Discount House was not in a position to refund ENG Capital of the purchase price paid. This forced ENG Capital to acquire a controlling stake in Century Holdings ,which was listed on the Zimbabwe Sock Exchange. This at least limited the potential loss since the purchase of Century Discount House was now an inter-company transaction. Obviously the refusal to restructure the shareholding to accommodate those politically correct and the refusal to being active in funding political activity didn’t please those who felt it was their God given right to receive support from any and all companies operating in the country. This independence was viewed as being lack of gratitude.
Challenging Silence
At the very least, the individual can challenge the silence of assumed consensus. By breaking the silence, by refusing to collude with evil and insanity, one resists its darkness. Breaking the silence is, I think, the most significant thing we do as individuals. Sometimes even without speaking, one can challenge the silence, as did the women in Argentina during the military regime. These women, Las Madres de la Plaza, refused to be intimidated by death squads. They kept their regular vigil; their presence alone was a blatant accusation of murder and brutality. They also showed that the power of one is acted out in community, not in solitude. We sustain each other in dark times, sometimes simply by being present together. - Mary-Wynne Ashford in her essay, Staying the Course
ENG Capital capabilities
There is need to understand ENG Capital’s ability to mobilise Zimbabwe dollars. At its peak ENG was peerless and unrivalled in the Zimbabwean financial market in its ability to raise and access Zimbabwe dollars.
The ENG Capital Group treasury was made up of the following individual units Century Bank, Century Asset Management, Century Discount House, Leasing Company of Zimbabwe, ENG Asset Management and Hybri Micro-Finance Institution. ENG Capital group had a market capitalisation of US$ 75 million, just before the RBZ descended on the Institution. This made ENG the single biggest combined treasury in the Zimbabwe Financial market.
The installation of RTGS immediately allowed the Authorities to trace which Institutions were the biggest movers of money and the money market. The authorities were alarmed to learn that ENG (an unknown firm to them) and which didn’t have a political “Godfather” was allowed to control such resources. A further study was made to trace the political inclination of the shareholders and directors. ENG was not well represented in the political ladders. The belief was that any independent financial resources could be used and was being used to clandestinely support the opposition or politicians deemed undesirable. In addition business owners were supposed to show gratitude by donating and financing the political set up. Any meaningful business group was supposed to be well known and its owners be vetted by the authorities’ political process. Any business which didn’t fit that bill had to be either closed, nationalised or shareholding restructured.(by any means necessary). Dr Gono needed a high profile scapegoat and start his new career with a bang.
The ENG Capital Group treasury was made up of the following individual units Century Bank, Century Asset Management, Century Discount House, Leasing Company of Zimbabwe, ENG Asset Management and Hybri Micro-Finance Institution. ENG Capital group had a market capitalisation of US$ 75 million, just before the RBZ descended on the Institution. This made ENG the single biggest combined treasury in the Zimbabwe Financial market.
The installation of RTGS immediately allowed the Authorities to trace which Institutions were the biggest movers of money and the money market. The authorities were alarmed to learn that ENG (an unknown firm to them) and which didn’t have a political “Godfather” was allowed to control such resources. A further study was made to trace the political inclination of the shareholders and directors. ENG was not well represented in the political ladders. The belief was that any independent financial resources could be used and was being used to clandestinely support the opposition or politicians deemed undesirable. In addition business owners were supposed to show gratitude by donating and financing the political set up. Any meaningful business group was supposed to be well known and its owners be vetted by the authorities’ political process. Any business which didn’t fit that bill had to be either closed, nationalised or shareholding restructured.(by any means necessary). Dr Gono needed a high profile scapegoat and start his new career with a bang.
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