Rights and Accountability in Development report re Och-Ziff & Zimbabwe - 2014

In April 2014, Rights and Accountability in Development published a report, "Och-Ziff, Mugabe’s ‘Bagmen’ and the underpricing of African assets".  The report raises concerns that transactions involving companies with assets in Zimbabwe and other African countries by Och-Ziff Capital Management, Palladino Holdings and other financial firms, may have violated US and UK laws, including sanctions on Zimbabwe Government officials put in place over human rights concerns in Zimbabwe, and anti-corruption laws.

- press release [PDF], 28 Apr 2014
- summary of report [PDF], Apr 2014 - with recommendations to US Govt., UK Govt., Och-Ziff, and pension funds invested in Och-Ziff
- full report: "Och-Ziff, Mugabe’s ‘Bagmen’ and the underpricing of African assets: A New York hedge fund’s record of questionable African investments" [PDF], Apr 2014

Media coverage: “US and UK urged to probe ‘sanctions busting’ ZANU PF loan”, SW Radio Africa, 6 May 2014

Business & Human Rights Resource Centre invited Och-Ziff and Palladino to respond:

Och-Ziff has not yet responded.  We will indicate here by 4 June whether it responds.

Palladino Holdings response [DOC], 28 May 2014

Roche resigned from IPASA end of January 2014. The campaign proposed by PAE to IPASA is neither in the interest of Roche, nor of our industry in South Africa, and undermined the good relationship we have established with the South African authorities.

 

We believe that access to quality healthcare is a shared responsibility, requiring all stakeholders to work together, which requires a collaborative and inclusive approach based on mutual trust.   

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