A HARARE businesswoman allegedly lost US$500,000 in a sophisticated scam where fraudsters impersonated Kuvimba Mining House (KMH) executives.
The businesswoman, Precious Mabuza, said she was deceived by impersonators in a botched deal to collaborate on a chrome and minerals project on the Great Dyke.
Mabuza, who trades in chrome, told The Standard she was initially contacted by individuals claiming to be KMH executives.
“I received a message from individuals pretending to be executives from Kuvimba Mining House,” she said.
“They claimed they were looking to collaborate with me on a report mandated by the Minister of Mines regarding chrome on the Great Dyke.
"Since we trade in chrome, I was excited as I thought it was a great opportunity.
“The scammers presented themselves as important figures from a reputable company, which made me trust them, and I introduced them to my team, believing they were legitimate.”
Feeling confident in their credentials, she agreed to meet and discuss business terms.
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The fraudsters, after establishing credibility, arranged a meeting to discuss the collaboration.
As discussions progressed, they pivoted to a request for a routine business payment, asking Mabuza to facilitate a payment in South Africa for chrome deliveries.
"They said they knew I was buying chrome and provided bank details for the deposit,” she said.
“Since this is part of my regular business dealings, I didn’t think twice.”
After agreeing on the payment, Mabuza processed the US$500,000 transfer and provided proof of payment.
However, when she attempted to follow up, the scammers went silent.
"I tried to call them, but they didn’t answer,” she said.
“That’s when I started to suspect something was off.”
The fraudsters allegedly later began sending AI-generated voice messages to maintain the guise of legitimacy.
"I received these strange messages that confirmed to me this was all a scam," she said.
Mabuza has since shared these voice messages with the media and authorities as part of an ongoing investigation. The KMH has since issued a public disclaimer regarding such fraudulent activities.
“Certain unscrupulous individuals may attempt to mimic or impersonate company executives in negotiating non-existent transactions purportedly on behalf of Kuvimba Mining House, such actions are fraudulent, illegal, and not sanctioned by our company in any form,” the statement read,
“As a reputable and professional organisation, Kuvimba Mining House conducts all business transactions through official channels and in accordance with our internal corporate governance protocols.”
The company said that its executives and authorised representatives will only engage in negotiations and agreements using verified company communication platforms and documented procedures.
“Kuvimba Mining House will not be held responsible for any losses, damages, or liabilities arising from transactions entered into with unauthorised persons or outside our established procedures,” the statement said.
