‘Africa Man of Gold’ Scott Sakupwanya to turn Zimbabwe into Africa’s Dubai?
By Kwedu News
Zimbabwean Businessman and gold dealer, Scott Sakupwanya, is planning to turn Zimbabwe into a gold hub, or ‘Africa’s Dubai’, with plans to build a gold refinery in Bulawayo and take advantage of the proximity of the Victoria Falls forex stock exchange market.
Sakupwanya, who is into gold mining and buying, is building the refinery through his company Better Brands and is expected to be complete by year end, 2023, if all goes well.
From Mabvuku to becoming Zimbabwe’s biggest gold dealer, Sakupwanya’s journey into the gold business began as a gardener for one of Zimbabwe’s biggest White gold dealers, then, Ewan Macmillan, and later a gold buyer under him, where he noted a gap in the gold buying business.
Realising the amount of gold Zimbabwe was losing through smuggling, Sakupwanya approached government, through the Reserve Bank of Zimbabwe, for a license to buy the precious mineral and channel it through the formal system.
The move saw a massive improvement in gold submissions to government through Fidelity which, in the process, also made him a fortune.
“Scott got into gold by being a buyer under McMillan, however, when he realized how much gold Zimbabwe was losing to smuggling, leading to Zimbabwe being removed from the LBMA/London Fix or London Bullion Market Association, he went to ask (Gideon) Gono (then RBZ Governor) for a license.
“Gono believed in Scott, and since getting his license, the submissions of gold to Fidelity, have risen by 600% to 35.38 tons, from 4 tons in 2008, which broke all records last year.
“Now, he says Zimbabwe will hit 40 tons this year, before his refinery is up and running,” Zimbabwean Anti-Sanctions activist, and a marketer by profession, Rutendo Matinyarare says.
“…Scott hasn’t started making real money as he is currently in the process of building a gold refinery in Bulawayo, to refine gold from all across Africa in Zimbabwe, so that the country can export finished gold products like Dubai is currently doing in its $70 billion gold industry.
“The reason for all the frenzy around Zimbabwe’s gold, is not only the gold coins or the #goldrush, but it is the fact that equipment for Scott’s refinery is currently on the sea coming to Zimbabwe, to make Zimbabwe, through the Victoria Falls financial hub, Africa’s Dubai,” added Matinyarare.
He says Due to his achievements, when he goes to Dubai, the Sheiks introduce him as the “African man of gold”.