Plot to oust John Moxon from Meikles exposed

Dark clouds are hanging over the Meikles Group after details emerged of an alleged plot to oust Mr John Moxon from the business and replace him with a former Lornho executive by engineering a dispute between Government and the businessman over the US$35 million debt originally owed by the Reserve Bank of Zimbabwe.

It is understood that the plan, which is already underway, is expected to culminate in purported local control of a business whose investments straddle retail, agriculture, financial services, hospitality, mining and private security.

Insiders say the bid to oust Moxon is premised on creating a wedge between Government and the business over the debt issue.

Those opposed to Mr Moxon's continued tenure will use the stand-off to push the executive chairman out and pave way for appointment of former Lonhro executive Benjamin Ward to take over.

The Finance and Economic Development Ministry last month wrote to Meikles saying the latter should repay US$29 million to Government as it had been overpaid for the 1998 debt.