Businessman stumps up $2 million for passport, freedom

BUSINESSMAN Ali Mohamad has stumped up a massive $2 million — in extra bail money and security — after his lawyers had successfully argued for the temporary release of his passport and that the harassment of foreign investors was hurting the economy.

This comes as President Emmerson Mnangagwa has reiterated that global corporations were safe in the country and Harare was moving to ensure that they thrive by enhancing legislative, and policy reforms.

“The arrest of investors destroys the goodwill made by the government (as Mohamad) is one of those convinced… to come and invest in the country,” the mining, cars and commodities tycoon’s lawyer Admire Rubaya said in a regional court application this week, adding he “needed to travel to South Africa (SA) to convince more investors to come to Zimbabwe”.

With his Hong Kong-based Ali Japan (Ali Japan) 786 outfit being the centrepiece of his investments, the Pakistan businessman has reportedly sunk US$50 million in the country and where he employs 1 000-plus people across various sectors of the economy.

Mohamad’s company also operates in six countries, including Uganda.

In SA, the Ali Japan owner is expected to meet with the representatives of Gregton Consultants – a company associated with Abantu Capital and which in turn owns various regional assets in the tourism, mining, manufacturing and other sectors.