HARARE – Businessman Wicknell Chivayo has once again ignited public debate after appearing to wear what watch experts identify as the Jacob & Co. Billionaire Double Tourbillon Angel Cut, an ultra-exclusive luxury timepiece valued at approximately US$3.4 million.
The watch, reportedly limited to just 18 pieces worldwide, is among the most expensive commercially available wristwatches ever produced. Its appearance on the wrist of one of Zimbabwe’s most politically connected businessmen has intensified questions over wealth accumulation, transparency and the growing culture of conspicuous consumption among individuals linked to the country’s political establishment.
The timing has not escaped public attention.
Only days earlier, President Emmerson Mnangagwa urged Zimbabweans to safeguard the country’s natural wealth, arguing that proceeds from mining, agriculture, tourism and infrastructure should benefit future generations rather than only the present.
Speaking at the burial of national hero Retired Major General Evaristo Dzihwema, Mnangagwa declared:
“The wealth which we generate from our land, from our mines, social services, tourism, infrastructure and development, as well as other entrepreneurial endeavours, should benefit generations to come.”
Yet for many Zimbabweans struggling with high living costs, unemployment and deteriorating public services, images of multi-million-dollar luxury watches have become a powerful symbol of a widening gulf between political elites and ordinary citizens.
Portable Wealth Beyond Luxury
Financial crime specialists note that ultra-luxury watches increasingly function as more than status symbols.
Because of their exceptionally high value, portability and global resale markets, rare watches are frequently described by wealth managers as alternative stores of value. They can preserve significant wealth in a compact asset that is easier to transport than cash or other physical assets.
Experts say that while luxury watches are legitimate investment assets for many collectors, regulators around the world have also become increasingly concerned that high-value watches can be used to move or conceal wealth, prompting tighter scrutiny in several jurisdictions.
There is no public evidence suggesting that Chivayo acquired or uses his watch for any unlawful purpose.
Patronage Questions Refuse to Fade
Nevertheless, Chivayo’s extraordinary displays of wealth continue to fuel debate over Zimbabwe’s political economy.
The businessman has become synonymous with luxury gifts, expensive vehicles and high-profile spending, while simultaneously remaining associated with several controversial government-linked contracts that have attracted public scrutiny over procurement and value for money.
Opposition parties and civil society organisations argue that Zimbabwe’s growing class of politically connected millionaires reflects a system in which access to state contracts, public resources and political patronage increasingly determines economic success.
Government officials have consistently rejected allegations of systemic corruption, maintaining that legitimate entrepreneurship, investment and economic reforms are creating new wealth within the country.
A Tale of Two Zimbabwes
The controversy also highlights the stark contrast between elite affluence and everyday hardship.
While Zimbabwe possesses vast reserves of gold, platinum, lithium and other strategic minerals, many citizens continue to experience declining purchasing power, persistent unemployment, inadequate healthcare and deteriorating public infrastructure.
Economists have long warned that resource-rich countries risk falling victim to the “resource curse” when mineral wealth becomes concentrated among a narrow political and business elite instead of being channelled into productive investment, education, healthcare and industrial development.
Critics argue that Zimbabwe increasingly exhibits many of those characteristics.
Symbolism Matters
Whether or not the watch was purchased through entirely legitimate means, analysts say its symbolism is impossible to ignore.
A single timepiece reportedly worth US$3.4 million represents an amount capable of financing schools, clinics, hospitals or critical public infrastructure in communities that continue to face severe shortages of basic services.
Against that backdrop, Mnangagwa’s call for responsible stewardship of Zimbabwe’s national wealth has inevitably prompted renewed questions over whether the country’s abundant natural resources are enriching the nation as a whole or disproportionately benefiting a politically connected elite.
For many Zimbabweans, the image of a US$3.4 million watch has become more than a display of luxury—it has become a symbol of the enduring debate over inequality, patronage and the unresolved question of who truly benefits from Zimbabwe’s vast national wealth.
