Armed robbers wreck havoc in Zimbabwe, ZRP worried: US$52,000 stolen again as Ecobank boss speaks on US$4.4 million heist

A wave of brazen armed robberies is sweeping across Zimbabwe, leaving law enforcement scrambling to contain a surge in violent crime targeting businesses and financial institutions. The latest incident, a pre-dawn raid on a financial institution in Shurugwi, has added to growing concerns about the escalating security situation.

Early Saturday morning, four suspected robbers armed with machetes and axes stormed a financial institution in the Mumvuri area of Shurugwi, making off with US$5,010 and R23,900 after attacking a security guard and forcing their way into the premises around 2 a.m. Their spree didn’t end there. The gang also targeted a local wholesaler, stealing an additional US$1,085 from a metal box, and an agrochemical shop, where they assaulted the occupant and stole US$30 and a Huawei P30 cellphone.

National police spokesperson Commissioner Paul Nyathi confirmed the incident and issued a public appeal for information: “Anyone with information that might assist with investigations should contact the nearest police station,” he said.

This audacious robbery follows a string of similar incidents across the country, highlighting a worrying trend of escalating violence and sophisticated criminal tactics.

Just last week alone, over US$52,500 was stolen in two separate incidents. In Masvingo, a cash-in-transit vehicle belonging to a private security company was robbed of US$20,000 while en route from Beitbridge to Mutare.

The crew’s violation of security protocols – offering lifts to two unknown passengers – facilitated the theft of a metal cash box containing the money. Separately, in Bulawayo’s Belmont industrial area, seven armed robbers stormed a steel company, making off with US$32,500, R300, and several cellphones after tying up security guards and workers, injuring one who attempted to escape.

These recent incidents are just the latest in a series of high-profile cash-in-transit robberies that have plagued Zimbabwe in recent years. Police investigations frequently point towards the possibility of insider involvement, prompting authorities to repeatedly urge businesses to bolster their security measures.

The sheer scale of the robberies is alarming. The most significant incident remains the audacious heist at Ecobank’s Parkade branch in Bulawayo three weeks ago, where over US$4.4 million was stolen in a matter of just two minutes. No arrests have yet been made in what is being described as one of the largest cash heists globally in the last decade.

The Ecobank Zimbabwe Board Chairperson, Mr Emmanuel Gwatidzo, addressed the incident at the ZimTrade Exporters Awards dinner on 17 October, providing a cautious update while respecting the ongoing investigation.

He stated: “I think we owe you an update on what has happened to us as a bank lately. Unfortunately, I can’t speak as freely as investigations are still ongoing into this matter.”

He reassured customers that the bank is cooperating fully with law enforcement: “The bank is working with the law enforcement unit on the matter and continues to provide updates via formal platforms,” he said.

Mr Gwatidzo stressed the bank’s commitment to customer and staff safety, highlighting enhanced security measures.

“The security of the customers and staff remains our top priority. We have enhanced security response protocols across all our branches. We also reassure you our customers that your funds and your customer information that’s presides with us is very safe,” he added.

Ecobank Zimbabwe Limited (EZW), a registered commercial bank operating under the supervision of the Reserve Bank of Zimbabwe (RBZ), commenced operations in January 2011 and currently maintains a network of 12 branches throughout the country.