Business / Companies
Scandal rocks Tel*One
16 May 2013 at 10:08hrs | Views
The country's fixed telecommunications network operator, Tel*One is understood to have been rocked by a scandal involving the diversion of employee benevolent funds to a microfinance institution, prejudicing employees.
Well placed sources said the benevolent fund, from which workers benefited by way of cheap loans, was moved from company and transferred to a microfinance institution where managers forced Tel*One employees to borrow at exorbitant interest rates.
The scandal is said to have been exposed after the appointment of Chipo Mtasa as Tel*One MD in January, forcing her to suspend at least 6 senior managers, including a director, who had orchestrated the transfer of the fund to the microfinance company.
Well placed sources said the benevolent fund, from which workers benefited by way of cheap loans, was moved from company and transferred to a microfinance institution where managers forced Tel*One employees to borrow at exorbitant interest rates.
The scandal is said to have been exposed after the appointment of Chipo Mtasa as Tel*One MD in January, forcing her to suspend at least 6 senior managers, including a director, who had orchestrated the transfer of the fund to the microfinance company.
Source - fingaz
