News / National
Former TIMB boss cleared
24 Aug 2024 at 12:59hrs | Views
Charges of criminal abuse of office involving over US$2 million against former Tobacco Industry and Marketing Board (TIMB) chief executive Meanwell Gudu and two accomplices have been withdrawn before plea.
This development clears Gudu, along with his co-accused, Stuart Shanyika, TIMB's former head of special services, and Dr. Andrew Matibiri, a retired TIMB chief executive, of all suspicions.
The trio was initially arrested by the Zimbabwe Anti-Corruption Commission (ZACC) on September 6, 2022, and made their first court appearance two days later.
The allegations stemmed from a Reserve Bank of Zimbabwe (RBZ) initiative during the 2017-2018 farming seasons, which aimed to support small-scale tobacco farmers by providing them with farming inputs and working capital.
A memorandum of agreement was signed on September 10, 2018, between RBZ as the fund provider, AFC Commercial Bank as the agent, and TIMB as the borrower.
Under this agreement, TIMB was responsible for procuring inputs, funding capital expenditures, and distributing these inputs to small-scale farmers.
The State accused Gudu, Shanyika, and Matibiri of violating the terms of this agreement by entering into private deals with select tobacco contractors. It was alleged that these agreements were corruptly arranged to benefit certain firms with inputs sourced from the TIMB loan, rather than the intended small-scale farmers. As a result, the RBZ was allegedly prejudiced of US$2 million, with no recovery of the funds.
After nearly two years since their arrest, the case was brought before the Harare Magistrate Court on Thursday, where it was withdrawn before plea. This decision effectively exonerates the accused parties.
Gudu, who had been with TIMB since 2008 and was appointed CEO in April 2021, following Dr. Matibiri's retirement, is now cleared of all charges.
This development clears Gudu, along with his co-accused, Stuart Shanyika, TIMB's former head of special services, and Dr. Andrew Matibiri, a retired TIMB chief executive, of all suspicions.
The trio was initially arrested by the Zimbabwe Anti-Corruption Commission (ZACC) on September 6, 2022, and made their first court appearance two days later.
The allegations stemmed from a Reserve Bank of Zimbabwe (RBZ) initiative during the 2017-2018 farming seasons, which aimed to support small-scale tobacco farmers by providing them with farming inputs and working capital.
A memorandum of agreement was signed on September 10, 2018, between RBZ as the fund provider, AFC Commercial Bank as the agent, and TIMB as the borrower.
Under this agreement, TIMB was responsible for procuring inputs, funding capital expenditures, and distributing these inputs to small-scale farmers.
The State accused Gudu, Shanyika, and Matibiri of violating the terms of this agreement by entering into private deals with select tobacco contractors. It was alleged that these agreements were corruptly arranged to benefit certain firms with inputs sourced from the TIMB loan, rather than the intended small-scale farmers. As a result, the RBZ was allegedly prejudiced of US$2 million, with no recovery of the funds.
After nearly two years since their arrest, the case was brought before the Harare Magistrate Court on Thursday, where it was withdrawn before plea. This decision effectively exonerates the accused parties.
Gudu, who had been with TIMB since 2008 and was appointed CEO in April 2021, following Dr. Matibiri's retirement, is now cleared of all charges.
Source - The Herald
