Zinara boss caught in Air Zimbabwe insurance saga - Zimbabwe Situation

Zinara boss caught in Air Zimbabwe insurance saga

via Zinara boss caught in Air Zimbabwe insurance saga February 19, 2014 By Paidamoyo Muzulu NewsDay

THE Ministry of Transport and Infrastructure Development was at the core of the rot at Air Zimbabwe as it emerges that Frank Chitukutuku, the Zimbabwe National Roads Administration (Zinara) chief executive, is among the owners of the airline’s insurance brokers, Champions Insurance.

Champions Insurance took over the lucrative and controversial Air Zimbabwe insurance portfolio without going to tender last year. The change of insurance brokers at the airline took place soon after former minister Nicholas Goche had appointed the Ozias Bvute-led board which was unceremoniously dismissed last week.

Investigations by NewsDay have revealed that Champions Insurance is owned by three shelf companies: Drycode Enterprises (20%), Hotspike Investments (40%), and Fremus Business Consultancy (40%).

Chitukutuku and his wife Nyasha are the directors of Hotspike. Its business address is Chitutukutu’s Plot No 82 Belmont Farm, Goromonzi.

According to records at the Companies Registry, Hotspike (7044/2000) was initially registered in 2000 with Collate Chitsiga and Kennedy Chitsiga as the founding directors.

Chitukutuku and his wife took over the company in 2011 when all the other directors resigned. The other directors who resigned in 2011 include Sebastian Chitukutuku, Tendai Hukuimwe, Fungai Hukuimwe and Nyasha Masungo.

Fremus Business Consultants (7192/2005) is owned by Freddy and Musline Chimbari, who are business associates to the Goches. They also own Fremus Executor Services which offers secretarial services to both Hotspike and Drycode Enterprises.

Drycode Investments (8543/2007) is owned by Inos and Cynthia Magumi of 152A Rhodesville Road, Greendale.

NewsDay further established that Goche’s children are senior executives at Champions Insurance whose managing director Nathan Chikono was until last week chairman of the AirZim board finance committee.

Nicholas Goche Jnr, a former fund manager at First Mutual Life, now works at Champions Insurance. It could not be ascertained what role he plays and he is not publicly listed among the executives at Champions Insurance.

Champions Insurance established a countrywide presence and it is found at most ZimPost Office halls across the country. ZimPost was under the Ministry of Transport headed by Goche when the deal was brokered.

NewDay further discovered that Champions Insurance had intimate business links with MetBank, Premier Service Medical Aid Society (PSMAS) and EasyGo (Pvt) Ltd owned by the Central Equipment Mechanical Department (CMED), a department in the Ministry of Transport.

EasyGo is a care hire business operated by CMED.

MetBank Group chief executive Bvute chaired the AirZim board on which Chikono was a member. Metbank offered Champions Insurance services in its banking halls.
The insurance company had a contract to insure all EasyGo cars.

It also offered travel insurance to PSMAS which is currently embroiled in its own boardroom sagas and scandalous payment of outrageous salaries to its executives.

The network of companies and personalities in these unravelling issues show the intertwining of government and business by senior politicians and civil servants.

 

COMMENTS

WORDPRESS: 19
  • comment-avatar
    Agog 4 years

    And to think this is the tip of the proverbial iceberg. Eye-watering and shameless self interest. Who needs sanctions? Just a convenient smokescreen.
    Years ago, someone spoke of accepting majority rule if it was “responsible”. No need to say anymore.

  • comment-avatar
    Jake 4 years

    Here we go…..again!

  • comment-avatar
    mutongi gava 4 years

    Goche!goche! inga anogocha

  • comment-avatar

    Nw i believe Sanctions were hurting the Economy,

    • comment-avatar
      Mukanya 4 years

      Zindoga are you being sarcastic? “That sanctions were/are hurting the economy”

      • comment-avatar
        succuba 4 years

        Which sanction would this be Mukanya? please tell us here.

  • comment-avatar
    Saddened 4 years

    This article shows why it is imperative to probe all quasi government and parastatals to expose the web of deceit that has overtaken our country. This is likely to lead to the many links they have with companies in the private sector. This cancer has to be rooted out of our society with the culprits facing the full force of the law. I am glad to see that our print media has finally realised that investigative journalism is what they should be doing. Long may it continue!

  • comment-avatar
    Ndini 4 years

    We have ourselves to blame in many cases. Some characters I see involved in these scandals wawoo are people I kno personally and its a shame. Shhhhhhaaaaaam. Ndanyara fani nevenhu wari mu Champions umu. God help us live a clean and blameless life. God of Israel rescue us from looters. Zimbabwe could be a better place to stay with plenty of business, employment and production opportunities.

  • comment-avatar
    Tjingababili 4 years

    GO AHEAD NEW MAKHIWAS, MAKE OUR DAY! INVOLUNTARY, INHERENT THIEVING CULTURE IS WHAT YOU ALL HAVE AS A PEOPLE! I MEAN AS AN ETHNIC GROUP! MOKWIBA, MUMBAVA DZEMAHELO!

  • comment-avatar
    Zvarwadza 4 years

    “Is the recent Presidential Amnesty meant to create space in our prisons for these rats?” just wondering

  • comment-avatar
    Charles Chamunorwa 4 years

    Sure, Mugabe must act. If this is the Zimbabwe we are in,therefor we are doomed as a nation. Zanu must resign as a government and call for fresh elections for this country to move on.

  • comment-avatar
    Nyoni 4 years

    The beginning of the end of the salarygate saga. Aluta continua the stealing until next time.

  • comment-avatar

    The problem we have as Zimbabweans/Africans is this hypocritical protest about corruption simply because you and i are further removed from the honey pot.Given half the chance you and i will do no better than cashbert,happison,chitukutuku..etc…etc.These indignant protests from you and me ,dear brothers and sisters,about corruption,are like the howls of wolves that also want,nay,DEMAND,to join in the feasting of thieves.I know you my thieving brothers and sisters…l know you,you hypocrites.

    • comment-avatar
      Mutorwa 4 years

      Mascara, you are right. Until the African understands what it means to be a productive human race, until political leaders go into politics to prove that their private business success was no fluke, this will remain come what may.

      HEY, LOOK NOW WHAT THE RULING CLASS DO WHEN WE ARE ASLEEP!!! NDIVOZVE AVA VANOMIRA PAMBERI PEDU VACHITI VANECHIDO CHEZIMBABWE FIRST BEFORE ANYTHING ELSE. Ko Gushung Ho tichainzwa rini? Ndiko kune yese nyaya manje uko. NXAAAAAAAAAAAAAAAAAAAA!

  • comment-avatar

    hapana chavanomboitwa vana goche ava. vanoziva maths dzamugabe, mujuru et al saka hapana. this is a lootocracy that you voted in.

  • comment-avatar
    John Thomas 4 years

    Find one that is not stealing and abusing. That will be news

  • comment-avatar
    Africanson 4 years

    Imi musafunga kuti mahurumende ndoo mbavha chete. MuInsurance makazara makororo nr corruption vazhambe chaivo. Its a zim sickness. I worked for one insurance company that had corruption from employment procedures up to claims. MD akarova fradulant claim in my eyes. I saw people assigned to conceal evidence in my eyes. Zim is full of corruption in all sectors of the economy. MD iyeye aindinyima mari because i was not related to him and also that my eyes were too open. Today he is still heading another insurance company. We have a corrupt country

  • comment-avatar
    tophaevy 4 years

    Someone says Mugabe must act.

  • comment-avatar
    tophaevy 4 years

    Someone says Mugabe must act. Which is more important, replenishing himself with new blood or worrying about someone who stole somebody else’s money and not his ( Mugabe’s) Eish, he is in too much in pain to even comprehend what’s going on, no wonder nothing is being done about the corruption. And someone says he has a small house in Singapore, which is more taxing sleeping through out a meeting or trying to satisfy a young demanding ( in bed of course )Asian girl? This one is obviously out.