Nyanga is at the center of controversy as Never Mhlanga, a prominent businessman and corporate strategist, has been arrested and is set to appear in court to face fraud charges linked to the $5 million sale of the Montclair Hotel and Casino in Juliasdale.
The hotel was sold to the Rainbow Tourism Group (RTG), and the transaction has sparked significant debate. The dispute arises from RTG’s acquisition of the hotel in November 2024, which involved payments to several shareholders, including Ludham Investments (Pvt) Ltd.
Ludham was originally established under the now-defunct National Discount House (NDH), where Mhlanga once held a senior position. NDH collapsed in 2004 due to financial turmoil and subsequently went into liquidation.
While its subsidiaries were sold off or restructured, Ludham’s stake in Montclair remained intact and later became part of the RTG transaction. Former NDH executives have accused Mhlanga of fraudulently facilitating the Montclair sale, despite not being a Ludham director at the time of the transaction.
They argue that changes in ownership and directorship following NDH’s collapse stripped him of any authority. Nonetheless, he allegedly led the $5 million deal, prompting police intervention. Mhlanga was taken into custody in Harare yesterday and now faces serious fraud charges related to this contentious transaction.
A University of Zimbabwe-trained chartered accountant, Mhlanga is recognized as one of Zimbabwe’s most experienced corporate turnaround specialists. Over a career spanning more than 30 years, he has played pivotal roles in major restructuring projects, including the privatization of Dairibord Holdings, the management buyout of David Whitehead Textiles, and the merger that formed NicozDiamond Insurance.
His advisory roles have also included significant financial institutions, such as the merger of Trust, Royal, and Barbican banks into the Zimbabwe Amalgamated Banking Group, and CBZ Holdings’ acquisition of Beverley Building Society.
In addition to his corporate achievements, Mhlanga has served on several boards, including both listed and private firms, and has contributed to quasi-governmental bodies as well as charitable and religious organizations
Despite his esteemed reputation in business circles, the Montclair case has raised serious questions about Mhlanga’s legacy. His court appearance today marks the beginning of what could evolve into a lengthy legal battle, and the outcome will be closely watched by both the business community and the public.
