Latest News Editor's Choice

News / National

Minister Soda Zhemu suspends entire Petrotrade Board

by Mandla Ndlovu
10 Mar 2022 at 13:52hrs | Views
The Minister of Energy and Power Development, Hon Soda Zhemu has suspended the Petrotrade board chaired by Advocate Tinomudaishe Chinyoka, deputized by Zanele Dube.

The Minister said he was suspending the board pending investigations into matters of corporate governance.

He said in a statement: While the Board of Directors for Petrotrade was appointed in terms of Section 11 of the Public Entities Corporate Governance Act, with the concurrence of His Excellency the President of the Republic of Zimbabwe, I have today, 9 March 2022 suspended the entire Board, pending investigations into matters of corporate governance. I will be appointing o team to lock into the matter, whose findings will inform the way forward.

Other board members are Simbarashe Eric Mhuriro, Gladys Mumhure, Ferida Matambo, Lilian Timveos, Getrude Marabada, Godfrey Ncube and, Dakarai Mukuku

Petrotrade had gone for five years without a governing board until the suspended board was appointed 9 months ago.

Source - Byo24News