Government investigates favoured tycoon Davy for shady forex deals

By Tererai Karimakwenda
21 April 2006

The business tycoon and father of Prince of Harry’s girlfriend, Charles Davy, is reported to be under investigation for allegedly dealing in large amounts of foreign currency illegally. Davy is one of the few white businessmen that had been spared by Mugabe as the government seized white-owned businesses. HHK Safaris, his game hunting and safari business in Zimbabwe, has made him a fortune and is considered one of the largest ventures in Southern Africa. It had continued to prosper due to his well-known ties to officials in the ruling party. But now he seems to have fallen out of favour with the Mugabe regime. The allegations are believed to have been triggered by a disgruntled black employee who alleged that Davy was channelling much of the company’s forex earnings outside Zimbabwe.

Journalist Basildon Peta of The Independent newspaper group told us there is a network of corrupt ZANU PF officials who benefit from their ties to some of the remaining white businessmen and farmers. Davy’s links to cabinet minister Webster Shamu are no secret. Peta said there are other officials involved with Davy but he could not reveal their names yet for legal reasons. He believes Davy must have fallen out of favour with his connections somehow, and is believed to be out of the country at the moment.

It is possible Davy may be trying to avoid being detained for a long time while the investigation is underway. Legislation pushed through parliament by ZANU-PF allows a suspect to be held for up to 21 days without bail. But other officials like former finance minister Christopher Kuruneri were held illegally for more than a year. Peta said people like Davy are shrewd and expedient businessmen. They target a few officials whom they keep happy in order to survive.

Peta pointed out British tycoon Nicholas Van Hoogstraten as another example. Van Hoogstraten has a large diverse business empire in Zimbabwe and has publicly acknowledged his support of Mugabe and the ruling party. Peta said this is the only way for him to survive. An official from HHK is reported to have claimed this week that Davy no longer had shares in the business. Peta believes this is Davy’s attempt to distance himself as the investigation continues.

We were unable to reach Charles Davy for a comment. He is believed to be in Mozambique or South Africa where he has other businesses.

http://www.swradioafrica.com/news210406/davy210406.htm