Presidential Investment Advisor Paul Tungwarara has been removed from the Zim Cyber City Project after allegations that he swindled his billionaire partner,Nawab Shaji Ul Mulk, of money meant for the project.
An inside source who spoke to this publication said that Tungwarara would use funds that Mulk gave him to make the Zim Cyber City Project a reality for his own personal gain.
“Tungwarara embezzled hundreds of thousands of dollars from Mulk until he was caught and removed from the project,” said the source.
“Mulk has since appointed Tendai Mamvura as CEO, whom he trusts more than Tungwarara.”
When contacted for comment, Tungwarara denied the allegations, saying, “It’s all lies. I’m still part of the project.”
Tungwarara is no stranger to controversy. He has previously made headlines for overcharging the government on the Presidential Borehole Drilling Scheme that he is spearheading.
He has also been accused of demanding fuel in Zimbabwean dollars, despite a government directive that restricts trade in fuel to US dollars.
Meanwhile, construction of Zim Cyber City is expected to start soon, with interest from the rich and famous.
Popular cricketer Sikandar Raza has become the first resident of the opulent residence, which is expected to attract the wealthy and elite.
Speaking after purchasing an apartment last week, Raza said:
“I am thrilled to be a part of Zim Cyber City, a groundbreaking initiative that promises to redefine the future of our beloved Zimbabwe. This project represents not only a smart investment but also an opportunity to contribute to the technological and economic growth of our nation.
“As the first resident of Zim Cyber City, I look forward to witnessing its transformation and growth over the coming years. It’s not just about luxury living; it’s about creating a vibrant and innovative community right here in Zimbabwe.
“I believe in the potential of this project to elevate our country’s profile and draw attention from all corners of the world. Zim Cyber City is not just bricks and mortar; it’s a symbol of progress and the limitless possibilities that lie ahead.
“I’m excited to be a part of this journey and to see how Zim Cyber City will shape the future of our nation. Together, we can make history and bring prosperity to Zimbabwe.”
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