Minister, Noczim board in fierce battle

of Zimbabwe board are locked in a fierce battle over US$35 million that the former says has been misappropriated.
Yesterday, the minister said he would have Noczim executive directors prosecuted over the money.
However, board chairperson Mr George Chigora said there was no evidence of criminal activity.
Sources said some board members were furious that Minister Mangoma had allegedly breached tender procedures when awarding a US$6 million fuel contract to a little-known South African firm.
They said the minister’s threat of prosecution was mea-nt to frighten the board into not pursuing the tender issue further.
The row comes as Noczim has moved to retrench about 105 workers.
Minister Mangoma yesterday said he was instituting criminal charges against Noczim executive directors after a forensic audit he commissioned allegedly unearthed serious irregularities.
“Following the disappearance of the US$35 million the executive directors of Noczim should face prosecution. We have discussed retrenchment packages with some non-managerial staff, but with respect to managerial personnel there are some issues that I am not happy with,” said Minister Mangoma.
“We want to take them for prosecution over the money.”
The executive directors are acting chief executive officer Mr Tendai Mangezi, director of finance Mr Isaac Mhaka, director of procurement Mr Clever Mawodzwa, and human resources director Mrs Netsai Masiyaniswa.
However, board chair Mr Chigora said they had not seen anything warranting the prosecution of executive directors.
He said the forensic auditors had made their observations and he had since asked the directors to respond.
“Misappropriation would mean that someone used money for personal business and not for company business. But if you send your child to pay for electricity bills and he pays the water bill instead, can you say he has misappropriated money?”
He said the US$35 million had been used to pay Noczim obligations and that could not be termed misappropriation. On the retrenchment of 106 workers, Minister Mangoma said they were finalising the process.
“The retrenchment package for non-managerial staff was finalised and signed by both parties this week.
“It now needs to be registered with the Retrenchment Board for its approval,” said Minister Mangoma.
The matter is not yet before the Retrenchment Board, but it is understood workers have said they will not leave their posts until the packages are deposited in their bank accounts.
They said they feared they would not get their money if they first left.
Mr Chigora confirmed a retrenchment package had been agreed on and this would include the five directors Minister Mangoma says should not benefit.
Minister Mangoma has unbundled Noczim to form PetroTrade and the National Oil Infrastructure Company of Zimbabwe. However, his appointments of personnel to lead the entities is under scrutiny.
Further, he is accused of breaching statutory requirements by withdrawing US$6 million of debt redemption funds to pay a little-known South African company for fuel during the petroleum shortages.
Government sources have said only the Head of State and Government has the authority to use redemption funds for strategic purposes.
He authorised PetroTrade to use the money to buy five million litres of fuel from NOOA, an unknown South African entity without going to tender.

You Might Also Like

Comments