eBusiness Weekly
Business Writers
Heads are set to roll at National Roads Fund Administrator (Zinara) following revelations of a massive board shake-up that could also claim the scalps of executives and its long serving chairman.
Information at hand suggests Zinara board chairman Mr Albert Mugabe’s tenure, which lapsed earlier this month, will not be renewed to mark the end of his stint with the road fund administrator.
Transport and Infrastructure Development Minister Dr Joram Gumbo is currently working on the appointment of a new board which will be announced soon, a source privy to developments at the parastatal said.
“The new board is a complete departure from what is there and it will effectively change the way the organisation is run. This will affect current executives.”There has been growing interest around developments at the state enterprise which handles revenues of close to US$200 million annually.
Dr Joram Gumbo yesterday confirmed that Mr Mugabe’s tenure had lapsed although he could not be drawn to shed more light on future plans. “I would prefer to talk more about this when I have completed work around the new board. It is true that Mr Mugabe’s term has lapsed,” Minister Gumbo said.
It is also alleged Mr Mugabe has been heavily involved in the day to day running of business at Zinara, becoming a de facto executive chair, in contravention of good corporate governance.
Close sources who spoke to Business Weekly say Mr Mugabe’s contract is unlikely to be renewed as he has no support to retain his post following a series of corruption scandals under his watch and perceived mismanagement of the state entity.
Mr Mugabe presided over the Zinara board during the reign of ex-Zinara CEO Mr Chitukutuku. Mr Chitukutuku left the organisation amid allegations that he abused his office and was at the core of corruption scandals that could have prejudiced the taxpayer of millions.
Mr Mugabe together with current Zinara CEO Engineer Nancy Masiyiwa- Chamisa have been accused by other senior executives and board members of attempting to quickly replace suspended managers before conclusion of legal proceedings.
This comes amid a storm over alleged abuse of company funds running into millions by managers who were eventually dragged to court.
Zinara director Simon Mudzingwa Taranhike, finance manager Shadreck Matengabadza were suspended and taken to court charged with swindling the parastatal US$300 000.
They allegedly transferred the money into a company on the pretext they were repaying a loan to Development Bank of Southern Africa (DBSA).
It is alleged the money was later transferred into individual accounts including that of Matengabadza’s wife. The pair was released on US$500 bail each and is expected back in court early August.
Zinara administration and human resources director Precious Murove was also suspended. Attempts to get comments from Mugabe were fruitless. Questions sent on Mr Mugabe email and to Zinara yesterday afternoon were not responded to at the time of going to print.
Asked to comment on the suspensions, Minister Gumbo said these were operational issues which would follow due procedure.
