Phelekezela Mphoko & Welshman Ncube clash over Choppies deal

ZIMBABWE’S former majority shareholders in Botswana-based multinational grocery and general merchandiser, Choppies Enterprises, are suing politician and lawyer Welshman Ncube, for allegedly withholding cash they received when a shareholding dispute was settled.
When Choppies Enterprises, which is chaired by former Botswana president Festus Mogae, expanded into Zimbabwe in 2013, it partnered with Nanavac Investments, which is owned by former Zimbabwe second vice-president Phelekezela Mphoko and his son, Siqokoqela.
In line with Zimbabwe’s indigenisation law, Nanavac became a 51 percent shareholder in 32 outlets across the country. Choppies operates in eight countries: Botswana, South Africa, Zimbabwe, Zambia, Kenya, Tanzania, Mozambique and Namibia.
The Mphokos hired Ncube, who is vice-president of the MDC Alliance, to intervene in their dispute with Mogae over the shareholding. Mogae insisted that the Mphoko family was given seven percent shareholding free of charge, but the family denied this and showed evidence that Nanavac borrowed $20 million (R297,4 million) from Choppies, which would be repaid through “revenue from trading activity” for a period of six months.
— City Press