He had entered the country on Monday with the money in US Dollars and tried to leave the next day after failing to deposit it at a local bank.
The police seized the money and applied for a court order to keep it while they investigate its origin and purpose. They suspect that the money is linked to illegal activities, money laundering or terrorism financing.
The police also believe that Masiya has local accomplices who are involved in his business dealings. Masiya, who is said to be a prominent businessman in Zimbabwe, was aggressive and uncooperative when the police questioned him about the cash.
He claimed that the money came from his company, Bopela Eswatini, but the police found out that the company was registered as a taxpayer in 2020 and never filed any returns.
The police are continuing their investigations to trace the source and destination of the money.