HARARE – Petrol-head millionaire businessman Frank Buyanga is a man who really knows how to make an entrance – even to a place as mundane as the Munhumutapa Building, which houses the Office of the President.

Buyanga had government wonks looking out through the windows as the unmistakable roar of the Ferrari F12 Berlinetta announced his arrival for a meeting with President Emmerson Mnangagwa .

The South Africa-based property tycoon was pictured arriving for a private meeting with the Zimbabwean leader on November 9, the purpose of which was not disclosed.

It is believed, however, that Buyanga was frustrated by the Reserve Bank of Zimbabwe’s slow response to an offer by his African Medallion Group (AMG) to “assist in the procurement and delivery of fuel, pharmaceuticals, cement, cooking oil and other commodities deemed necessary by the government and people of Zimbabwe through a bonded infrastructure.”

The offer was made in an October 29 letter to the apex bank, which says there are not enough foreign currency reserves to sufficiently support critical imports.

Following his meeting with Mnangagwa, it was announced on November 12 that the RBZ had welcomed AMG’s intervention.

“The bank appreciates your desire to contribute to the solution to the challenges facing the country and wishes to advise that you directly approach the importers of the proposed commodities. This is due to the fact that the buyers will be using their free funds to pay for the imports,” Mangudya said in his letter.

Estee Mamman, the chair of AMG, said they would immediately proceed to contact the relevant authorities in Zimbabwe to obtain the necessary approval, import permits and other documentation deemed necessary for the procurement and delivery of fuel, pharmaceuticals, cement, cooking oil and other commodities through a bonded infrastructure.

She added: “African Medallion Group will avail a ZAR500 million (US$34.8 million) facility to the African Medallion (Pvt) Ltd Zimbabwe entity for the inward procurement of all commodities. The facility will be redeemable in free funds.”

Mamman said in line with their transparency policy, they were inviting RBZ agents to supervise AMG in all its endeavours and practices.

“This is a non-profit making initiative. The benefit is mainly for the government and people of Zimbabwe.”