Two Arrested in South Africa Over US$4M Ecobank Robbery

Two suspects have been arrested in South Africa over the US$4 million armed robbery at Ecobank in Bulawayo last year and now face extradition to Zimbabwe, as cross-border investigations into the high-profile heist continue.

Two suspects believed to be linked to last year’s daring US$4 million armed robbery at Ecobank in Bulawayo have been arrested in South Africa, the Zimbabwe Republic Police (ZRP) confirmed on Saturday.

The suspects were apprehended on 5 July 2025 following a cross-border investigation involving Zimbabwean and South African law enforcement agencies. Authorities say the pair are now facing extradition proceedings to Zimbabwe, where they will be formally charged in connection with the heist.

The high-profile robbery occurred on 3 October 2024, in broad daylight, when a group of armed assailants ambushed a Safeguard Security cash-in-transit vehicle that was delivering money to Ecobank’s Bulawayo branch. The incident, which unfolded just a few blocks from the Central Police Station, stunned both the public and authorities due to its brazen nature and proximity to law enforcement offices.

During the heist, heavily armed men reportedly overpowered the security team, seized bags of cash, and escaped in a getaway vehicle. The robbery prompted a nationwide manhunt and heightened calls for enhanced security protocols around financial institutions and cash delivery operations.

In a related development, a Safeguard Security guard who was initially arrested shortly after the robbery is now facing money laundering charges. Prosecutors dropped the initial robbery charge against him, citing insufficient evidence directly linking him to the armed operation. However, investigators believe the suspect may have played a role in laundering the stolen funds.

ZRP spokesperson Assistant Commissioner Paul Nyathi said the arrest of the two fugitives marks a breakthrough in the transnational investigation, but cautioned that the search for additional suspects continues. “Efforts are ongoing to apprehend the remaining individuals believed to have been involved in this sophisticated criminal operation. We are working closely with regional partners to ensure justice is served,” he said.

The robbery remains one of the largest and most audacious in recent Zimbabwean history, and has raised renewed concerns about the security of cash-handling operations and the potential involvement of insiders.

The extradition process is expected to proceed in the coming weeks, with Zimbabwean authorities confident that further arrests may follow as investigations expand across borders.