News / National
Cabs caught up in Marvo corruption scandals
25 Feb 2017 at 02:26hrs | Views
A former worker at Marvo Stationary Mbonisi Gumbo has said it is disheartening and totally unacceptable to note that even the big corporates
are involved in corruption activities, undermining the poor because of their selfishness.
He said the country is run by corrupt people and their corruption has cascaded down to the ordinary citizens and many people survive by engaging
into corruption.
"Never the less we don't expect internationally recognized institutes like Central African Building Society to allow themselves to be used by
individuals for their own selfish needs. I hope and sincerely believe that this will be investigated by the relevant authorities to ascertain whether
or not CABS management did not in any way give Marvo Stationery a total sum of US$758 000 -00 and US$189 000 -00 loan fraudulently, on corruption activities?" he said.
"During the period of Government of national unity (GNU),the government entered into an agreement with a view to fund and resuscitate distressed
companies, initially this was meant for Bulawayo companies but later on it was nationalized. Marvo Stationery which happens to be my employer also
applied and was granted the loan amounting to $US758 000 – 00, the building was initially used in the deal as collateral. When this loan was applied
for, workers had last received their full salaries during the Zimbabwe dollar era and they were owing workers thousands of dollars."
He said they hoped that since the company had just gotten the loan things were going to change, but little did they know that the directors had other
plans.
"All this money did not buy the intended raw material but went on to buy large stocks of finished stationery in South Africa. By then we were still
at work and producing stationery hoping that things will change. I was hoping to buy a stand and build a house. I was very confidant things will
work out considering the fact that Marvo had survived the Zimbabwe bearers cheque era without a loan and now it had just received close to a million
United States Dollars, this was good news," he said.
"Our hopes were put into the drain as directors namely; Mr Matt Valela the majority shareholder, his sister Tswelelo Valela (financial Director), and
Urayayi Mazengeza (managing director), decided to loot everything at Marvo conniving with Soul Mashamba who later became the MD, Clement Ndlovu, David Ndlovu and Patience Mutarah. Valela is one of the top executives at Delta beverages and he is one of the principal treasurers of the company. In the course of his duties at Delta he also deals direct with Banks and thus where my belief lyes that he used his connections to connive with CABS Management in Harare to un procedurally benefit from the scheme."
He said Matt Valela conniving together with Mazengeza and her sister corruptly entered into a deal with the other four, Soul Mashamba, Mr C
Ndlovu, Mr D Ndlovu and Ms P Muatarah in 2011.
"The deal was that the four will take over the company (MARVO STATIONERY), and this was well published as a step in the right direction and they
called it management takeover. The new directors who came in allegedly bought Marvo for $1-00 [one dollar]. These people had no money in their
pockets and still don't have it. I don't know how did they agree on all this, because they agreed that they were taking over Marvo's debt in access
of $3 Million at the time," he said.
"The old directors T Valela and Mazengeza took Browns stationery with them. They separated the two (Marvo and Browns stationery). I don't know how? The old directors Ms valela and Mazengeza continued as the signatories of Marvo for over 7 to 8 months after the takeover, in the process taking all the money that was earned by the company All Marvo vehicles were transferred to browns, during the process both parties opened shelf companies for the purposes of stealing and looting from Marvo stationery. Assets and money being the most targeted."
He said now there is Posmaston- Mash and Posmastorn P, Thundal investments among others.
"The former Directors together with Valela got away with over $3million including the Cabs Bank loans which never worked at Marvo Stationery as
intended," he said.
"Despite all this, CABS agreed to let go of all the former directors together with their loot. They unprocedurally removed the Marvo building as
Collateral and instead took Soul Mashamba's house which they used to replace the company building. Mashamba's house in Nkulumane cannot be sold for more than $20 000- 00 as compared to Marvo building that can be sold for millions of dollars . We don't know how all this happened? The same building is no longer under Marvo now but Thundal a non-existent company. To make matters worse CABS further gave the new company directors led by Soul Mashamba a further $189 000 – 00, which was also used for the same purpose of importing finished goods from South Africa and selling them under Browns stationery not Marvo. Still Cabs didn't help benefit the workers up to today."
He said surprisingly, everything that was produced during the period of 2011 to 2012 was taken by Browns Stationery probably as part of the deal
poor workers never got any cent out of it.
"As of now Marvo workers are not at work. The company is now under judicial manager Chrispen Mwete and is saying he is still looking for the investors. It's close to three years now. The workers were told that they can't call for liquidation of the company now because they will not get any cent out of it, citing Marvo has no value at the moment. The machinery inside are bonded by Cabs bank, and the building was fraudulently changed from Marvo to Thandal. There are no vehicles or anything to talk about because everything now belongs to Browns stationery," he said.
"The available option is Litigation through the courts but still the judicial manager is lamenting on unavailability of cash to pay the lawyers
to pursue litigation. I blame Cabs bank for all this, chances are high that if only they had acted differently Marvo would be running by now and we
could have been paid all our monies. Currently Cabs same applies to Marvo cannot call for liquidation because it is not guaranteed to get its money
in full, let alone NSSA, Zimra, Zesa, Bcc, to mention but a few.This has caused untold sufferings for the poor workers who don't even know when will
all this come to an end."
He said Valela is one of the few very successful individuals from this region of Matabeleland but that does not exonerate him from being
accountable of his actions.
"This country is dying because of corruption activities, greediness and selfishness, therefore we cannot allow this to continue. We also have
ambitions the same way as Valela. We choose to work hard to achieve such and we will not tolerate any stumbling block in our life time. Therefore we
urge Valela and his people to sort out their messy at Marvo because we will not keep quite, fold our hands and watch while our rights are being
infringed. No we say enough is enough," he said.
"We demand our money now and we also urge Cabs Bank to put their house in order on the Marvo issue and not to hold other creditors at ransom."
are involved in corruption activities, undermining the poor because of their selfishness.
He said the country is run by corrupt people and their corruption has cascaded down to the ordinary citizens and many people survive by engaging
into corruption.
"Never the less we don't expect internationally recognized institutes like Central African Building Society to allow themselves to be used by
individuals for their own selfish needs. I hope and sincerely believe that this will be investigated by the relevant authorities to ascertain whether
or not CABS management did not in any way give Marvo Stationery a total sum of US$758 000 -00 and US$189 000 -00 loan fraudulently, on corruption activities?" he said.
"During the period of Government of national unity (GNU),the government entered into an agreement with a view to fund and resuscitate distressed
companies, initially this was meant for Bulawayo companies but later on it was nationalized. Marvo Stationery which happens to be my employer also
applied and was granted the loan amounting to $US758 000 – 00, the building was initially used in the deal as collateral. When this loan was applied
for, workers had last received their full salaries during the Zimbabwe dollar era and they were owing workers thousands of dollars."
He said they hoped that since the company had just gotten the loan things were going to change, but little did they know that the directors had other
plans.
"All this money did not buy the intended raw material but went on to buy large stocks of finished stationery in South Africa. By then we were still
at work and producing stationery hoping that things will change. I was hoping to buy a stand and build a house. I was very confidant things will
work out considering the fact that Marvo had survived the Zimbabwe bearers cheque era without a loan and now it had just received close to a million
United States Dollars, this was good news," he said.
"Our hopes were put into the drain as directors namely; Mr Matt Valela the majority shareholder, his sister Tswelelo Valela (financial Director), and
Urayayi Mazengeza (managing director), decided to loot everything at Marvo conniving with Soul Mashamba who later became the MD, Clement Ndlovu, David Ndlovu and Patience Mutarah. Valela is one of the top executives at Delta beverages and he is one of the principal treasurers of the company. In the course of his duties at Delta he also deals direct with Banks and thus where my belief lyes that he used his connections to connive with CABS Management in Harare to un procedurally benefit from the scheme."
He said Matt Valela conniving together with Mazengeza and her sister corruptly entered into a deal with the other four, Soul Mashamba, Mr C
Ndlovu, Mr D Ndlovu and Ms P Muatarah in 2011.
"The deal was that the four will take over the company (MARVO STATIONERY), and this was well published as a step in the right direction and they
called it management takeover. The new directors who came in allegedly bought Marvo for $1-00 [one dollar]. These people had no money in their
pockets and still don't have it. I don't know how did they agree on all this, because they agreed that they were taking over Marvo's debt in access
of $3 Million at the time," he said.
"The old directors T Valela and Mazengeza took Browns stationery with them. They separated the two (Marvo and Browns stationery). I don't know how? The old directors Ms valela and Mazengeza continued as the signatories of Marvo for over 7 to 8 months after the takeover, in the process taking all the money that was earned by the company All Marvo vehicles were transferred to browns, during the process both parties opened shelf companies for the purposes of stealing and looting from Marvo stationery. Assets and money being the most targeted."
He said now there is Posmaston- Mash and Posmastorn P, Thundal investments among others.
"The former Directors together with Valela got away with over $3million including the Cabs Bank loans which never worked at Marvo Stationery as
intended," he said.
"Despite all this, CABS agreed to let go of all the former directors together with their loot. They unprocedurally removed the Marvo building as
Collateral and instead took Soul Mashamba's house which they used to replace the company building. Mashamba's house in Nkulumane cannot be sold for more than $20 000- 00 as compared to Marvo building that can be sold for millions of dollars . We don't know how all this happened? The same building is no longer under Marvo now but Thundal a non-existent company. To make matters worse CABS further gave the new company directors led by Soul Mashamba a further $189 000 – 00, which was also used for the same purpose of importing finished goods from South Africa and selling them under Browns stationery not Marvo. Still Cabs didn't help benefit the workers up to today."
He said surprisingly, everything that was produced during the period of 2011 to 2012 was taken by Browns Stationery probably as part of the deal
poor workers never got any cent out of it.
"As of now Marvo workers are not at work. The company is now under judicial manager Chrispen Mwete and is saying he is still looking for the investors. It's close to three years now. The workers were told that they can't call for liquidation of the company now because they will not get any cent out of it, citing Marvo has no value at the moment. The machinery inside are bonded by Cabs bank, and the building was fraudulently changed from Marvo to Thandal. There are no vehicles or anything to talk about because everything now belongs to Browns stationery," he said.
"The available option is Litigation through the courts but still the judicial manager is lamenting on unavailability of cash to pay the lawyers
to pursue litigation. I blame Cabs bank for all this, chances are high that if only they had acted differently Marvo would be running by now and we
could have been paid all our monies. Currently Cabs same applies to Marvo cannot call for liquidation because it is not guaranteed to get its money
in full, let alone NSSA, Zimra, Zesa, Bcc, to mention but a few.This has caused untold sufferings for the poor workers who don't even know when will
all this come to an end."
He said Valela is one of the few very successful individuals from this region of Matabeleland but that does not exonerate him from being
accountable of his actions.
"This country is dying because of corruption activities, greediness and selfishness, therefore we cannot allow this to continue. We also have
ambitions the same way as Valela. We choose to work hard to achieve such and we will not tolerate any stumbling block in our life time. Therefore we
urge Valela and his people to sort out their messy at Marvo because we will not keep quite, fold our hands and watch while our rights are being
infringed. No we say enough is enough," he said.
"We demand our money now and we also urge Cabs Bank to put their house in order on the Marvo issue and not to hold other creditors at ransom."
Source - Byo24News
