War vets petition Mugabe over ‘collapsing’ Zexcom

DISGRUNTLED war veterans have petitioned President Robert Mugabe protesting the placement of their company, the Zimbabwe Ex-Combatants (Zexcom) Foundation Investment Fund, under judicial management, claiming the move had deprived them of benefits from the firm.

Source: War vets petition Mugabe over ‘collapsing’ Zexcom – NewsDay Zimbabwe February 13, 2017


In a letter dated January 2, addressed to Mugabe, Zexcom chairperson, Jonah Gumo claimed that judicial officers robbed them of over $290 million in potential earnings after the company was placed under judicial management.

“With much delight and happy (sic) to write this letter, which illustrates a few points of how High Court judges damaged our company and other companies without care or procedure. They totally hatched corruption in this country and are drivers of corruption,” the letter read.

Zexcom Investment Fund Limited was formed in 1998 after 4 388 ex-combatants pooled their resources together and formed a company.

In 2001, there were squabbles within the management, which spilled into the courts, leading to the company being placed under judicial management with Barbra Lunga appointed as the provisional judicial manager.

But, Zexcom members contend that Lunga has run down the company, stripped it of most of its assets, while denying shareholders rental benefits accrued from their properties.

On four occasions, Zexcom members went before the courts seeking a reversal of the judicial management, but they allege they are being unfairly dismissed, hence, their decision to approach Mugabe’s office.

Before approaching Mugabe, the former fighters had written to Vice-President Emmerson Mnangagwa on January 18, 2016, seeking his intervention on the matter.

In the same letter, they accused judicial officers of conniving to wrest the company from them.

Prior to that, they had also sought the intervention of Speaker of Parliament, Jacob Mudenda, asking the legislature to investigate the conduct of court officials handling the matter.

Addressing over 100 Zexcom members in Harare on Saturday, Gumo said: “We do not have a judiciary in this country.

It’s full of corrupt people, who are busy making themselves rich by engaging in corrupt activities.”

Gumo added that the war veterans would soon demonstrate at the High, Supreme and Constitutional courts to register their displeasure over the manner in which Zexcom affairs were being handled.