‘Luv dat cabal’, Innscor in bed with Mujuru

via ‘Luv dat cabal’, Innscor in bed with Mujuru | The Herald April 14, 2015

INNSCOR Africa Limited has created a slush fund which is channelled through businessman and former zanu-pf Mashonaland East provincial chairperson Ray Kaukonde to fund the activities of the Mujuru putschist cabal that is angling to go by the name Zanu-People First.Kaukonde is a close associate of ousted former Vice President Joice Mujuru and was the financial fulcrum of the faction.

The elaborate Innscor Africa scheme has seen Innscor move $2 million into the Mujuru-owned Africa Consolidated Resources in addition to paying Kaukonde a monthly princely sum of $34 500 which is neither a salary since he is not employed by Innscor Africa Limited nor a dividend.

Sources close to the developments believe the money paid to Kaukonde might have begun as part of a protection fee for Dr Mujuru who is accused of extorting shareholding from various companies in addition to demanding 10 percent bribes as facilitation fees.

Documents show that Kaukonde has been regularly receiving the $35 000 monthly through one of his companies Scotia Steel through a Stanbic Bank Account 022077012401.

He was also recently paid $2 million by ACR ostensibly to settle an Interfin Bank account.

Interestingly, Interfin Bank shut down about three years ago, raising questions as to what the $2 million paid to Kaukonde was for.

The Herald is also reliably informed that Innscor bought $2 million worth of shares in ACR recently in a deal that was brokered by Innscor Africa Limited non executive chairman Mr Bexley Chinake, who also represented ACR.

This happening when a storm is brewing within Innscor over the company’s decision to hire expatriates at the expense of locals qualified for the job.

Among the expatriates imported from other countries by Innscor are its chief executive officer Mr Antonio Fourie, Louis Carstens, Tony Orgoman and Andrew Stott.

In a written response to The Herald, Mr Chinake confirmed payments made by Innscor Africa to Scotia saying Kaukonde was a shareholder though it could not be established if all other shareholders are on such monthly payments.

“Mr Kaukonde is a shareholder of IAL. Certain companies associated with him, namely Scotia Steel and Accelerated Investments receive a total of USD30 000 per month plus VAT of $4 500 in respect of services rendered to IAL. Mr Kaukonde does not receive any money in his personal capacity as alleged,” said Mr Chinake.

“Payment is not a salary as Mr Kaukonde is not employed by IAL nor does he receive any money in that capacity from IAL.”

On the $2 million that was paid to Cde Kaukonde presumably to settle the Interfin Bank Account, Mr Chinake said: “IAL did not have a debt with Interfin Bank, and therefore did not settle any such debt. A company called Federated Properties owned by certain IAL shareholders may have had dealings with Interfin Bank and or through Mr Kaukonde. IAL understands but cannot say for certain that this company may have owed Interfin the amount of USD $2 million, which it repaid a while ago via funds held on its behalf. IA has never been a debtor to Interfin.

Though Mr Chinake denied Innscor bought $2 million worth of shares in ACR, a source close to developments confirmed the movement of the cash.

Repeated efforts to get a comment from Cde Kaukonde were fruitless as calls to his mobile phone were unanswered.

Mr Fourie was said to be in South Africa when The Herald sought comment from his office in the capital.

When tracked to his Johannesburg office, Mr Fourie’s personal assistant said her boss had knocked off for the day.

“Leave your details so that we can ask him to call you,” said the personal assistant who answered the office telephone.

Mr Fourie had not returned our call by the time of going to Press.


  • comment-avatar
    Mukanya 8 years ago

    The article coined by the Zanu PF mouth piece is worthy reading at all.I was misled by ‘Luv dat cabal’,

  • comment-avatar
    R Judd 8 years ago

    Come on brave, courageous Herald, tell us about Uncle Bob, Grace and Munangawa who pull these same moves, but with extra zeros. What? The cat got your tongue?