Controversial businessman Wicknell Chivayo is spending the weekend behind bars after a Harare magistrate yesterday postponed to tomorrow his bail hearing.
He is facing four charges of fraud, money laundering and contravening the Exchange Control Act after he allegedly corruptly received over $5 million from the Zimbabwe Power Company (ZPC).
Chivayo (39), who is being charged together with his company Intratrek Zimbabwe, pleaded not guilty to the charges when he appeared before magistrate Elisha Singano, who remanded him in custody to tomorrow for bail hearing continuation.
The complainant is ZPC represented by board member Thandiwe Mlobane.
Allegations are that sometime in 2012, ZPC resolved to expand its national grid and a feasibility study was carried out and a tender process done in August 2013 for installation of a 100-megawatt solar power plant in Gwanda.
The tender was awarded to a Chinese company, China Jiangxi, at a cost of $183 million. Chivayo also participated in the tender with a bid of $248 million, the third lowest.
The State alleges Chivayo’s alleged accomplice, former Energy minister Samuel Undenge, who is yet to be arrested in this case, interfered with tender processes and directed ZPC managing director Noah Gwariro to award the tender to Chivayo at a cost of $172 848 597.
It is alleged that on October 23, 2015, ZPC acted on the misrepresentation and signed a contract with Chivayo for implementation of the project.