Zinara boss under probe over $300k CBZ loan

Source: Zinara boss under probe over $300k CBZ loan | Newsday (News)

THE Zimbabwe National Road Administration (Zinara) is instituting investigations against chief executive officer, Nancy Masiyiwa, who is alleged to have corruptly obtained a $300 000 CBZ Bank mortgage bond using the government institution’s authority.

BY CHARLES LAITON

The letter authorising Masiyiwa to access a personal loan from the financial institution, is alleged to have been authored by Zinara board chairperson, Albert Mugabe, but has since been revoked after it emerged the road authority had nothing to do with the said loan.

This was revealed at the High Court on Tuesday this week during the trial of five Zinara top executives, who are facing allegations of criminal abuse of office involving $2 940 588, which they sourced on the parallel market through Caudless (Pvt) Ltd and Grayriver (Pvt) Ltd.

However, Masiyiwa is accused of having used former minister, Saviour Kasukuwere’s political muscle and her relationship with the latter and his brother Dickson Mafios, to have the letter written on her behalf, while purporting to have had the blessing of the parastatal.

The five accused’s lawyer, Rekai Maposa challenged Masiyiwa that the reason why she suspended the five Zinara executive employees was that she wanted “to cover up her shoddy deals” and had developed bad blood with her subordinates.

“Are you not related to Kasukuwere and Mafios, and confirm the investigating officer of this matter is also related to Kasukuwere and them being from the G40 cabal you hated the accused persons because you considered them being from Team Lacoste?” Maposa asked to which Masiyiwa responded: “Yes, I am related to them through my cousins, but I do not hate them, I have nothing to do with politics, I am a professional and was dealing with them professionally.”

Maposa further asked: “Is it not correct that you were using Kasukuwere to threaten the accused … and besides did you not build a house in Greystone Park using a loan you got from CBZ after entering into a deal with Mugabe, who drafted a letter on behalf of Zinara for you to get that loan? And that you are being investigated …why did you want Zinara to be part of your shenanigans?”

In response, Masiyiwa said she was not privy to the contents of the letter, but confirmed that the same letter had since been withdrawn by the Zinara board.

When Justice Amie Tsanga interjected and asked Maposa the relevance of her cross-examination, the lawyer said: “I want to demonstrate that there is bad blood between the witness and the accused persons. In fact, she is not clean herself and she is involved in so many shoddy deals,” adding the reason she suspended the Zinara executives was that she wanted to employ her relatives instead.

The matter continues.

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