Grace Mugabe Looting Plunges Hwange Colliery into $37 Million Loss

Now Daily

Alleged looting by Grace Mugabe and her ‘partner in crime’, the British tycoon Nicholas van Hoogstraten has stripped listed firm Hwange Colliery Company of its previous shine and plunged it to a massive loss of $37 million in 2015.

Data published last week shows Hwange recorded the loss amid weak fundamentals.

According to reports, Grace Mugabe and van Hoogstraten fleeced the firm through various scams which resulted in large amounts being transferred to them through an offshore account based in Jersey.

The company also lost millions of dollars after buying which was found to be unsuitable for the conditions at Hwange.

© Now Media 2016. All Rights Reserved.


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