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Bongani Ndlovu, Chronicle Reporter
THE Zimbabwe Ex-Combatants (Zexcom) Foundation Fund Limited has been given a date to hold an annual general meeting (AGM) following a Bulawayo High Court order last Thursday.

In 1998, nearly 4 000 ex-combatants pooled their resources together, each depositing their contributions through then Kingdom Bank to form the company, which by 2001 was valued at $15 million.

The freedom fighters came together under the leadership of the late national hero, Dr Chenjerai Hunzvi, and pooled their resources together after getting Z$50 000 gratuity each from Government.

Zexcom had invested in various sectors of the economy to enhance the future earnings of war veterans’ and their dependents.

The investments were in the form of properties and included shareholding in various local companies such as Delta, Econet and Kingdom Bank.

However, disputes at Zexcom board level arose, resulting in the company being placed under judicial management since 2001.

Zexcom was removed from provisional liquidation on June 19, 2019.

Bulawayo Judge Justice Dube-Banda ordered that the Zexcom AGM be held on October 29, 2022.

“It is ordered that the respondents shall ensure that the First Respondent holds its Annual General Meeting on 29 October 2022.

“The respondents shall issue a notice of Annual General Meeting mentioned in paragraph 1 on no later than 1 July 2022,” said Justice Dube-Banda.

He said failure to do this, the applicants can call for an AGM.

“In the event of failure by the respondents to comply with the order of the court made on the above terms, the applicants or any other shareholder shall be entitled to call for the Annual General Meeting.

There is no order as to costs,” said Justice Dube-Banda.

One of the applicants Cde Reuben Alvan Mpofu said they were elated with the order.

“We want to inform the Zexcom shareholders that the order has been given by the Bulawayo High Court.

So, the AGM has been set for 16 October 2022 and this is great news to us,” he said.

“It has been a hard and long struggle for us to get to this juncture ever since the company was put under provisional liquidation.”

Zexcom, according to Cde Mpofu, has a registered membership of 3 496 and these are expected to meet in Harare on the day of the AGM to map a way forward.

“We want to choose board members during the AGM and these board members will be drawn from the country’s 10 provinces. We want to have equal representation of all provinces’ members in the board,” said Cde Mpofu.