Source: Zinara exonerates execs in fraud case – DailyNews Live
Tendai Kamhungira 30 January 2018
HARARE – The case of five Zimbabwe National Road Administration (Zinara)
executives accused of allegedly fraudulently transferring more than $2
million into bogus companies’ accounts in a shady loan repayment deal has
taken a new twist after Zinara wrote a letter to the National Prosecuting
Authority (NPA) clearing the group of any wrong-doing.
This also comes at a time the five – Simon Mudzingwa Taranhike, Shadreck
Matengabadza, Stephen Matute, Givemore Tendai Kufa and Precious Murove,
who are represented by Rekai Maposa – denied the allegations when their
trial opened before High Court judge Emy Tsanga yesterday, claiming they
were being persecuted for supporting President Emmerson Mnangagwa.
Allegations are that in 2011, Zinara was advanced a 10-year loan facility
of $206 million by the Development Bank of Southern Africa (DBSA) for the
construction and rehabilitation of the 823km-long Plumtree-Mutare Highway.
NMB Bank was to facilitate the loan repayment.
The State alleges that due to foreign currency challenges, remittances to
NMB Bank were being made in bond notes, leaving the bank with the task of
sourcing hard currency on behalf of DBSA.
According to court papers, from May 3, to 23, 2017, the five men, acting
in connivance and without authority from Zinara, allegedly sourced foreign
currency from the parallel market through Grayriver (Private) Limited
directors, after paying them a total of $2,94 million on the pretext that
the payment was a reimbursement to DBSA on behalf of Zinara’s part payment
of loan obligation with DBSA.
The offence came to light after CBZ Bank security department received an
anonymous call that Grayriver, which had received $300 000, was a
fraudulent company, used to syphon money from Zinara.
However, during trial yesterday, Maposa produced a letter dated January 4,
2018, written to the NPA referenced: Withdrawal of Charges Against Zinara
Employees, in which the organisation said it had no case against its
workers.
According to the letter, Zinara distanced itself from the case, claiming
it was not the complainant in the matter, as the facts related to
Infralink (Private) Limited. According to the letter these are two
separate entities.
In the letter, no wrong was committed, adding that it would be a
dereliction of duty if the matters were allowed to be prosecuted.
In their defence, the five claimed their problems were being instigated by
Infralink (Private) Limited chief executive officer Nancy Masiiwa and
Albert Mugabe. “All the accused persons will submit that this was a
project by Albert, Masiiwa his cabal and other state witnesses to
exterminate the accused persons on the basis that they were believed to be
aligned to serve the interest of the current President of Zimbabwe and as
such they were labelled as team Lacoste and hence they were supposed to be
exterminated for good.
“It was actually a conspiracy to wipe the accused who could not give in to
their demands to embezzle public funds, hence these charges. Albert
indicated to them that he had instructions from the Mugabe family and
would be in for it, for failure to comply with instructions, of evading
what the Infralink (Private) Limited board had resolved,” Maposa said.
She said the loan was between Infralink and DBSA and that Infralink had
some of its monies in Zinara’s coffers, adding that whatever they did was
above board and had the blessing of the Zinara chief executive officer.
Prosecutor Chris Mutangadura yesterday called the first State witness,
Presidential Affairs permanent secretary Judith Kateera who told the court
she was a former Permanent Secretary with the Transport ministry.
Kateera said she knew Zinara had a loan agreement with DBSA, which had
accrued to $21 million by June, 2017, after attracting a 200 percent over
the initial six percent interest.
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