A BANK has sanctioned the former Chief Executive Officer (CEO) of Telecommunications giant Netone Reward Kangai, after tagging him a politically exposed person.
Earlier on today 31 Mar 2021 Reward Kangai twitted the following ”When overwhelming evidence of corruption & fraud abounds & no arrests are made & in the unlikely event of an arrest, which is followed by acquittal without trial, know that the persons involved, are part of the grand cartel that has bled to near death, our once great country. pic.twitter.com/ghXlFWv…”
The former telecoms boss, an engineer of high pedigree would not divulge which bank nevertheless investigations by TechnoMag led to First Capital Bank formerly Barclay’s Bank of Zimbabwe now Malawian run as some officials confirmed knowledge of the transactions.
This follows monies that haven’t been released by Portraz and Metbank.The story as told by Mr Kangayi is laid bare for everyone that former ICT Minister Supa Mandiwanzira , then Netone Chairman Alex Marufu and the whole bunch recruited from Metbank were investigated and it must be noted that the former Minister of ICT Mandiwanzira was acquitted.
2. Following the legal action that Netone had started against MetBank to
recover debt, I was unexpectedly summoned to the Minister’s office,
who by then, was Hon. supa Mandiwanzira, who had been appointed in
mid-December 2014. when I got into his office, I found Mr ozias Bvute, a
director of MetBank in the office, sitting next to the Minister, Mr Bvute
started explaining that due to liquidity challenges, Metbank owed several
parastatals but with the assistance at the Reserve Bank, they had made
arrangements for payment over a period at 3 years but were having
difficulties with this parastatal Netone, with his fingers pointing at me.
The Acting Permanent secretary, Mr cosmas chigwama was also present
at that meeting. It was then agreed that a meeting be held between
Netone and Metbank to agree on a payment plan. As we left the
Ministers office with Mr chigwamba, he wondered why Mr ozias Bvute
was brazenly arrogant, when his Bank owed Netone monies. I later read
the NSSA Forensic Audit report and noted that Metbank executives met
with the newly appointed Labour and Public Services Minister, Mrs
Prisca Mupfumira on 17 Dec 2014, getting her to apply pressure on NSSA
management to issue a loan of US$10 million to Metbank, yet NSSA Risk
department had a negative risk assessment of MetBank. The matter has
since resulted in her being charged for corruption tor allegedly receiving
a payment of usd 40 000 from Metaank, yet the MetBank
executives, who would have made the alleged bribery payment, are still
to be charged, almost 2 years later.
3. I went back to the office and requested the Netone legal staff to put on
hold the lawsuit against Metbank and convene a meeting with them to
resolve the matter but for more than 3 weeks, Metbank officials were not
forthcoming despite concerted efforts by our legal staff to arrange for a
meeting, so I gave the green light to continue with the legal route, which
culminated in April 2015 with Metbank signing a need at settlement
wherein they agreed to pay the debt within 5 months time, starting in
Mary 2015, which would have meant that by end of November 2015, …”
To date Kangai has not seen justice no wonder his tweets out of frustration.He was appointed Managing Director at the founding of NetOne when the former Posts and Telecommunications Corporation of Zimbabwe (PTC) was disbanded to create TelOne, NetOne and Zimpost. In March 2016, Kangai was suspended for three months from his role as CEO following allegations of corruption at the company.
In December 2017 Engineer Kangai wrote a report to President Emmerson Mnangagwa alleging that Supa Mandiwanzira had captured NetOne and POTRAZ.The Zimbabwe Anti-Corruption Commission commissioner Goodson Nguni announced in January 2018 that Mandiwanzira had been cleared by the ZACC investigations and that instead, they wanted to arrest Kangai himself. Kangai was subsequently arrested on 10 January 2018.Since then he has been on a quest for justice seeking to be cleared and in so doing Netone have NOT released money he is supposed to be paid.
Denying him monies he is owed from Netone on the basis he is a Politically Exposed Person or (PEP) is high-risk clients with more opportunities than ordinary nationals to gain assets through illegal means like bribe-taking and money laundering. The PEP definition of a politically exposed person (PEP) is charged with an important public function. Pep status meaning has been entrusted with a prominent public function.
Classifying a potential client as a PEP doesn’t mean that a corporation can’t work with them at all, of course, they also have PEP bank accounts. Discovering a client is a PEP is just a part of the process allowing DNFBPs (Designated Non-Financial Businesses and Professions) and financial institutions to make a whole risk evaluation. With a PEP check it is vital to be aware of the red flags. Sometimes matching just one of these politically exposed person indicators might be linked with financial abuse
The PEP definition according to FATF: Senior government official: executive bodies, diplomatic roles, legislative bodies, judiciary bodies Close family members: are individuals who are related to a PEP either directly (consanguinity) or through marriage or similar (civil) forms of partnership. Organizations and Institutions: a senior executive of a government-owned commercial enterprise. Close associates: are individuals who are closely connected to a PEP, either socially or professionally. A senior: official of a major political party.
Sanctioning Kangai, tagging him a politically exposed person(pep) may not be in the best interest of either party considering it is now over 5 years since he was relieved of his duties as Netone boss.