The recent appointment of Bona Chikore, daughter of the late former President Robert Mugabe, as the Deputy Board Chairperson of EmpowerBank has ignited a fervent debate within Zimbabwe’s political and financial spheres. While seemingly a routine government appointment to a newly constituted board, led by the experienced William Chaitezvi, a deeper examination reveals a complex interplay of political rehabilitation, strategic positioning, and a calculated manoeuvre by the “New Dispensation” to bridge the chasm left by the 2017 military-assisted transition.
EmpowerBank was established with a singular, vital mandate: to provide financial support to youth-led enterprises and empowerment initiatives. This demographic, facing a significant unemployment rate of 13.99% in early 2024, represents a crucial voting bloc that the ruling ZANU-PF party is keen to win over before the next major political cycle. By reinstating a Mugabe family member into a high-profile state role, President Emmerson Mnangagwa’s administration appears to be signalling a “unity” project. This initiative aims to heal the lingering wounds of the 2017 coup and consolidate power, particularly in the rural heartlands where the Mugabe name continues to command considerable influence.
The timing of this re-emergence is particularly noteworthy. Bona Chikore has maintained a relatively low profile since her father’s passing in 2019, primarily engaged in private legal battles. Her highly publicised and acrimonious divorce from Simba Chikore, which commenced in 2023, inadvertently exposed the vast wealth accumulated by the Mugabe family. Court documents revealed a substantial portfolio, including 21 farms, over 25 upscale residential properties, and a mansion in Dubai. For the average Zimbabwean, who often struggles to secure even a modest loan from the very institution Bona now co-leads, this appointment resonates as a familiar narrative of “jobs for the elite” while the less privileged endure prolonged waiting periods.
A Board Forged in Connections
The new seven-member board, appointed by Youth Empowerment, Development and Vocational Training Minister Tino Machakaire under Statutory Instrument 132 of 2026, is tasked with guiding EmpowerBank through a period of intense public scrutiny. Alongside Bona Chikore, the board comprises individuals such as Margaret Mupfiga, an expert in IT governance, and Patience Matshe, a seasoned financial auditor boasting over 32 years of experience. While their professional qualifications are undeniable, the strategic inclusion of the Mugabe brand suggests a deliberate effort by the “New Dispensation” to leverage historical allegiances for contemporary political objectives.
William Chaitezvi, the newly appointed Chairperson, possesses extensive experience at the nexus of business and politics in Zimbabwe. His roles as chairman of the National Business Council of Zimbabwe and treasurer of the Young Entrepreneurs Network position him as a figure capable of enhancing the bank’s professional image. Nevertheless, the enduring shadow of the Mugabe legacy remains prominent. Our investigation indicates that this appointment serves as a tactical move to neutralise potential dissent from Mugabe loyalists who retain significant sway in rural provinces—regions that form the bedrock of ZANU-PF’s electoral strategy.
The Credibility Chasm
EmpowerBank faces considerable challenges in fulfilling its mandate. The institution has been consistently criticised for its “exclusionary” loan requirements, with numerous young entrepreneurs expressing frustration over unattainable collateral demands. In June 2022, youths in Masvingo staged protests, advocating for the removal of these stringent conditions, asserting their inability to raise the necessary capital.
Moreover, the bank’s internal controls have recently come under severe scrutiny. Recent reports detailed a US$160,000 fraud scandal involving Alvin Nyaradzai Mparutsa, director of Classic Superfoods. According to court records, Mparutsa allegedly misrepresented assets, including a Hino Ranger and a Volvo truck, as collateral for a loan facility that subsequently went unpaid. The State’s case underscored a critical oversight: “Upon investigation, Empowerbank discovered that these properties were registered under Classic Superfoods (Private) Limited, not Super C Group Limited,” the entity that initially applied for the loan. This resulted in an actual loss of US$160,000 for the bank, with no recovery made.
The Political “Unity” Project: A Calculated Embrace
President Mnangagwa has consistently asserted that he and his former mentor, Robert Mugabe, achieved reconciliation prior to Mugabe’s death. In early 2024, the President extended an “olive branch” to Grace Mugabe, signalling an intent to reintegrate the former First Family into the political fold. This reconciliation transcends mere personal sentiment; it represents a meticulously calculated political manoeuvre. By rehabilitating the Mugabe brand through Bona’s appointment, the current administration seeks to neutralise potential opposition from within the party’s own ranks and present a unified front.
An unnamed source within the ZANU-PF youth league described the appointment as a “masterstroke of inclusivity,” designed to demonstrate that the party has moved beyond the divisions of 2017. However, critics contend that this is merely a re-allocation of power among existing elite circles. For the youth, who are frequently reminded that “leadership is earned, not given,” the sight of a Mugabe daughter ascending to a prominent banking position without a discernible track record in the financial sector is perceived as a bitter irony.
The Surname as a Qualification
In Zimbabwe, one’s surname frequently serves as a powerful qualification. Bona Chikore’s return to the public sphere via a state-linked bank suggests that the Mugabe name is being strategically re-employed as a symbol of stability and continuity. While EmpowerBank’s stated mission is to empower the youth, the reality for many remains one of navigating bureaucratic hurdles and confronting political favouritism.
Despite the “New Dispensation’s” pledges to depart from past cronyism, the intricate connections between the new board and the corridors of power suggest a perpetuation of established patterns. As Bona assumes her role as Deputy Chairperson, she inherits a bank grappling with the challenge of proving its relevance to the very demographic it was created to serve. Whether this appointment genuinely fosters empowerment or merely functions as a footnote in a broader political rehabilitation project remains to be seen.
For the Zimbabwean youth, the message is unambiguous: the avenues to power are accessible, but primarily to those possessing the appropriate keys. In the intricate landscape of Zimbabwean politics, these keys are often forged in the crucible of historical legacies. The “Mugabe Return” transcends a mere job appointment; it underscores the enduring power of a dynasty and the strategic imperatives of a government perpetually focused on the forthcoming electoral cycle.
A History of Unfulfilled Promises
The struggle for youth empowerment in Zimbabwe is a protracted narrative. Since the early 2000s, numerous funds and banks have been established with the promise of transforming the lives of young, unemployed citizens. Yet, these initiatives have been repeatedly marred by allegations of widespread corruption and political favouritism. The Youth Development Fund, a precursor to current programmes, was infamously characterised by human rights organisations as a “looting machine” for individuals with political connections.
The current administration’s “New Dispensation” branding was intended to signify a definitive break from these practices. However, Bona Chikore’s appointment evokes memories of an era where the First Family’s interests were inextricably linked with those of the state. During her father’s presidency, Bona was often perceived as the more reserved of the Mugabe children, yet she was consistently close to the centres of power, having served on the board of the Censorship Board and actively participating in the family’s extensive business empire, Gushungo Holdings.
The Stark Economic Reality
While the political elite engage in strategic re-alignments, the economic reality for the average young Zimbabwean remains stark. Persistent inflation continues to erode the value of the local currency, and the cost of living has escalated dramatically. For a young entrepreneur in a high-density suburb such as Mbare or a remote rural outpost in Binga, the prospect of securing a loan from EmpowerBank often remains an elusive dream.
The requirements for a “Youth Business Starter Pack” typically include opening a business savings account, providing proof of residence, and, crucially, offering collateral that the majority of young people simply do not possess. As one young trader in Harare candidly observed, “They tell us to be entrepreneurs, but then they ask for a house as security for a $1,000 loan. Who among us has a house?”.
Conclusion: A Strategic Pivot with Enduring Questions
Bona Chikore’s appointment as Deputy Chairperson of EmpowerBank represents a strategic pivot by the Mnangagwa administration, addressing multiple political objectives. It serves to neutralise a potentially disruptive Mugabe loyalist faction, projects an image of national unity, and attempts to re-engage a youth demographic increasingly disaffected with the prevailing political landscape.
However, the factual performance of the bank—characterised by recent fraud scandals and exclusionary policies—threatens to undermine this carefully constructed narrative. For EmpowerBank to genuinely fulfil its stated mission, it must transcend its role as a tool for political rehabilitation and begin delivering tangible results for the millions of young Zimbabweans who currently find themselves marginalised.
Ultimately, the “Mugabe Return” may be less about the future prospects of Zimbabwe’s youth and more about the perpetuation of its political elite. As the 2028 election cycle draws nearer, every move on the political chessboard is meticulously calculated for maximum impact. And for the foreseeable future, the Mugabe name remains a significant piece in play.
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