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Full List Of Allegations Laid Against NetOne Boss

   
2 comments

NetOne’s suspended CEO recently won a case against the NetOne board with the court ruling that the CEO’s suspension was null since it resulted from an improperly constituted meeting.

The full list of allegations against the NetOne boss has now come to light with The Independent reporting on the numerous alleged abuses of office by Muchenje.

The charge sheet against the CEO cited the following issues as the reason behind his suspension:

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  • Muchenje’s domestic workers and security guards were on the NetOne payroll which wasn’t agreed in his contract;
  • The executive leased himself a house in Borrowdale for a fraction of its market value;
  • Awarded himself “a disproportionate bonus” of ZW$510 000 in December 2019;
  • In November of the same year, Muchenje is said to have awarded himself and his wife ZW$895 000 as a holiday allowance – Muchenje is reportedly eligible for two holidays but his wife isn’t covered;
  • Muchenje and Chief Finance Officer at NetOne Tinashe Severa (who was also suspended alongside Muchenje) are accused of prejudicing the MNO of US$2.24m after unlawfully signing an interconnect contract with Bankai International Pvt Ltd – “In terms of this agreement Bankai purchased nine million minutes for US$1 million contrary to the company‚Äôs ruling rate of 36 cents per minute. Further, the agreement contravened schedule five of SI (Statutory Instrument) 163 of 2008 (Postal and Telecommunications (international Termination rates) Amendment Regulations 2008. As a result, the company was prejudiced US$2 240 000”;
  • On two occasions in June & August, Muchenje is said to have approved purchase of fuel worth ZW$7.6m and ZW$1.2m without seeking board approval. The purchase was also made from a company that wasn’t ZERA approved and ended up buying the fuel at a much higher price than the pump price at the time;
  • Muchenje also allegedly leased company property for ZW$1 000/month when its actual value was US$2 500-$3 500/month depending on whether or not the property was furnished;
  • Muchenje allegedly bought household goods and appliances worth ZW$623 587 without board approval;
  • Muchenje is also said to have allowed Severa to buy 12 pre-owned vehicles which were over the 5-year limit in the company’s policy;
  • The suspended CEO is also accused of having bought a Nissan Navara and Mazda 3 and hiring a Toyota Fortuner despite agreeing to provide his own vehicle for the fulfilment of his duties;
  • Lastly, Muchenje is accused of refusing to hand over documents to auditors during the audit period.


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Comments 2

blackjecha
12 months ago

ummmm

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mukanya
12 months ago

A quick scan of all public entities CEOs abuses will reveal a modern day “Soddom and Gommorah” acts by the sitting incumbents.

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