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Sikhulekelani Moyo, Business Reporter

ENERGY and Power Development Minister Soda Zhemu has suspended the board of directors for Petrotrade, pending investigations into corporate governance issues.

In a press statement yesterday, the Minister said he will appoint a team to investigate the matter whose findings will determine the way forward.

“While the board of directors for Petrotrade was appointed in terms of Section 11 of the Public Entities Corporate Governance Act, with the concurrence of His Excellency the President of the Republic of Zimbabwe, I have today, March 9 2022 suspend the entire board,” reads part of the statement.

Petrotrade board is led by chairperson, Advocate Tinomudaishe Chinyoka who is deputised by Mrs Zanele Dube. Other members include Mrs Gladys Mumhure, Mr Simbarashe Eric Mhuriro, Mrs Ferida Matambo, Ms Lilian Timveous, Ms Getrude Marabada, Mr Godfrey Ncube and Mr Dakarai Mukuku.

The above board was appointed last year in June after Petrotrade had gone for five years operating without one. -@SikhulekelaniM1