Controversial businessman Wicknell Chivayo’s Chinese partners on the $200 million Gwanda Solar Power Project have been banned by the African Development Bank (AfDB). The AfDB blacklisted CHINT Electric for 3 years saying the firm lied about its experience in order to qualify for contracts. Chivayo recently came under fire because of the lack of progress on the project site despite being given a US$5 million advance in irregular circumstances.
In a notice, the AfDB said,
An investigation conducted by the bank’s office of integrity and anti-corruption established that CHINT Electric engaged in a multitude of fraudulent practices: In bidding for contracts in the context of numerous bank-financed power projects, the company misrepresented its experience with similar assignments in order to meet qualification requirements.
However, Chivayo dismissed the blacklisting saying,
CHINT is a listed company. They have $12 billion annual revenue they can’t be blacklisted nezvima bank zvakaita se (low rated banks) like AfDB. That’s a false story.
More: NewsDay