EXPOSED: Why High Court Froze Tycoon Chivayo’s 3 Bank Accounts Months Before His Death

Details have emerged on why High Court ordered Wicknell Chivayo’s three bank accounts to be frozen months before his death.

The South African High Court placed restrictions on Chivayo’s accounts held at FNB, Absa and Standard Bank as authorities continued examining his financial activities.The court order was part of a wider inquiry into millions of dollars allegedly moved through firms associated with the businessman.

Investigators were examining more than US$48.56 million, equivalent to about KSh6.3 billion, which was reportedly transferred to companies linked to Chivayo.

The funds were connected to a Zimbabwean government deal involving the supply of election materials.

The contract involved Johannesburg-based printing firm Ren Form CC.

Zimbabwe’s Ministry of Finance reportedly released more than R1.1 billion, approximately KSh8.56 billion, to the company for election materials supplied to the Zimbabwe Electoral Commission.

Authorities later raised concerns over the movement of more than US$48.56 million into accounts connected to companies associated with Chivayo.Leaked audio recordings and WhatsApp conversations also reportedly contained allegations of payments involving senior government officials.

The cost of some election equipment also came under scrutiny.

Documents reportedly indicated that a central server was charged US$1.3 million, around KSh168.7 million, despite having an estimated market value of about US$5,577, or approximately KSh724,000.

Chivayo consistently rejected allegations of wrongdoing.

In December 2025, Zimbabwe’s Anti-Corruption Commission said it had found no direct evidence linking him to the election contract.

However, South African authorities continued with their financial investigation.

In April 2026, the High Court froze his three accounts and prevented his private jet from leaving the country while the inquiry continued.

The restrictions were still in effect when Chivayo died in a helicopter crash on September 30, 2026, together with his wife, Lucy Lulu Muteke. He was 43.

ProfAmor [email protected]