Former Reserve Bank of Zimbabwe Governor Dr Gideon Gono appeared as a witness this week at theHarare Magistrates’ Court, presided over byMagistrate Stanford Mambanje He testified in a fraud case involving Clark and Beverly Makoni, who are accused of fraudulently seizing control of his company, Valley Lodge, valued at ZWL172 million Dr
Gono detailed how he entrusted the Makonis with managing his family’s real estate portfolio starting in 2016, including Valley Lodge in Mutare from 2017 He alleged that the couple manipulated company documents and court processes to block him and his employees from accessing the property and misappropriated funds through unauthorized bank withdrawals disguised as salary payments He estimated his financial loss at around US$100,000 and described the situation as distressing, especially as a pensioner relying on these investments for income The case was postponed to July 11, 2025, when an investigating officer from the Zimbabwe Anti-Corruption Commission (ZACC) is expected to testify next
Here is a timeline summarizing the key events in the fraud case involving former Reserve Bank of Zimbabwe Governor Dr Gideon Gono and the accused couple Clark and Beverly Makoni:
October 30, 2009:Costick Investments (Pvt) Ltd sold all its shares in Lizack and Valley Lodge to Galwex Investments (Pvt) Ltd, owned by the Omar family 2016:Dr Gideon Gono was introduced to Clark and Beverly Makoni by his children to manage his family’s real estate portfolio
July 2017:Gono engaged the Makonis to manage Valley Lodge in Mutare and other properties The agreement was verbal with no documentary evidence 2017-2024:The Makonis allegedly forged a CR14 form to appoint themselves as directors of Valley Lodge without Gono’s or the legitimate owners’ consent They also allegedly misappropriated funds by changing bank signatories and withdrawing money disguised as salary payments, causing Gono a financial loss estimated at ZWL137 million (about US$100,000)
January 2024:Clark Makoni approached Gono to propose an out-of-court settlement of US$50,000, which Gono initially accepted but Beverly Makoni later refused to sign 2024-2025:The Makonis were arrested twice over the allegations, with investigations by the Zimbabwe Anti-Corruption Commission (ZACC) and Zimbabwe Republic Police (ZRP) Source: Gambakwe
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Source: Gambakwe
