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Mugabe in Hot Soup Over Zinara Loan

Former Zimbabwe National Road Administration (ZINARA) board chairperson Albert Mugabe appeared before Harare Magistrates court yesterday charged with criminal abuse of office.

Mugabe who appeared before Magistrate Vongai Muchuchuti was released on $500 bail on conditions he resides at the given address, surrender travelling documents, report once every week at ZRP Highlands and not to interfere with state witnesses until the matter is finalized.

According to the state, on March 30 2017, ZINARA Human Resources Committee deliberated on a resolution for the acquisition of a mortgage loan by the Chief Executive Officer Nancy Chamisa Masiyiwa.

It is further alleged that the six member Human Resources Committee unanimously resolved to recommend to ZINARA Board for approval of Masiyiwa to secure a mortgage loan scheme not exceeding $300 000 as per ZINARA Human Resources Policy Manual.

On April 5, 2017, Mugabe wrote a letter of undertaking for mortgage loan in respect of Masiyiwa to CBZ bank advising that the ZINARA board had authorized her to enter into a housing loan scheme with the financial institution and that the parastatal undertook to pay off the mortgage facility if her contract expires with the mortgage loan still existing.

Mugabe allegedly wrote the letter despite the fact ZINARA Board had approved the loan facility.

On April 11 in the same year, Mugabe wrote another letter to CBZ advising that ZINARA Board had agreed to set off the $300 000 mortgage loan facility in the event that Masiyiwa accrued arrears and termination of her contract of employment when in actual fact the board had not authorized the setting off of her mortgage loan.

On April 20, CBZ approved a $300 000 loan facility to Masiyiwa and released the loan on the strength of the false letters doctored by Mugabe with intent to show favor to the ZINARA CEO.

Mugabe will be back in court on the 11th of April for routine remand.

Source : 263Chat

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