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Bank refuses Kangai’s Son Tichaomberwa tuition fees

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Kangai bemoaned how he '' made a follow-up today and spoke to your .... who advised me that the Bank's Risk Department advised that they couldn't clear me for International payments, due to outstanding Court matters.''
The telecommunications guru cited his rise as an engineer being trained by Western Universities to become who he is today further saying ''l was employed by the Posts and Telecommunications Corporation, FTC after graduating in Telecommunications Engineering, attaining Chartered Engineer status in 1987, through the UK institution of Electrical Engineering, IEE, the UK Institution of Electronics and Radio Engineers, IERE and Corporate membership of the Zimbabwe institute of Engineers, ZIE, rising through the ranks on promotion based merit in the Telecommunications Planning and Development Group of the FTC, eventually being promoted to run Netone, then a Division of the PTC as General Manager and not through any political affiliations.''

In a rather bizzare case Former Netone Chief Executive Officer Reward Kangai’s son has been denied education in Sweden following his bank’s non-compliance to releasing funds for his schooling.

In his quest to live on, former Netone boss Mr Reward Kangai has requested for clearance for international payments so that he could fund his Son’s education.

Tichaomberwa Kangai an innocent student in Sweden has had to bear with one year of no schooling as a result of the tug of war that has ensured since his father former Netone boss Reward KANGAI WAS SERVED WITH MARCHING ORDERS.
In a statement letter to the paying authorities, Reward Kangai stated that
”I submitted terms for Telegraphic Transfer payment for
Tichaomberwa Kangai’s University tuition fees In Sweden, without success,
resulting in Tichaomberwa Kangai missing his studies for a year and no reasons were given as to why the funds were not transferred.”
”More than a month ago, i
submitted another payment of the fees and when I made a follow-up
with you more than two weeks ago, she told me that the Bank
was waiting for clearance from the Bank’s Risk Department, Since I was
considered by the Bank, to be a Politically Exposed Person, PEP, I wondered why
that was so, as 5 years ago, I left NetOne Cellular (Pvt) Ltd, a 100% Government
owned company, but nonetheless, not on the US or EU sanctions list. ”
Mr Kangai bemoaned the fact that he was still considered a politically exposed person yet the company he used to work for clearly was never under any sanctions.

This certainly brings public’s attention to a relatively hidden group of people that financial institutions must keep their eyes on – the politically exposed person (PEP).

Are banks and credit unions required to monitor PEPs? The answer is “Yes” or “No,” depending on whether the PEP is foreign or domestic. The U.S. Patriot Act of 2001 requires monitoring of foreign PEPs.

There isn’t a global definition for a PEP, but the Financial Action Task Force (FATF) has issued guidelines in which the term was defined. Specific country legislation such as the USA Patriot Act or the European Union Directive use similar definitions generally.

A current or former senior official in the executive, legislative, administrative, military, or judicial branch of a foreign government (elected or not);
a senior official of a major foreign political party;
a senior executive of a foreign government owned commercial enterprise, being a corporation, business or other entity formed by or for the benefit of any such individual;
an immediate family member of such individual; meaning spouse, parents, siblings, children, and spouse’s parents or siblings; and in this case Reward Kangai’s son may qualify in this category but then not qualify to be denied access to education and his father’s clean money for his education.

Also any individual publicly known (or actually known by the relevant financial institution) to be a close personal or professional associate comes in play.Differing definitions appear in laws, regulations and guidance notes internationally. Aside from the differing definitions, there is a growing consensus among banks, governments and regulators that PEPs present heightened money-laundering risks. The bank which include performing enhanced due diligence monitoring perhaps saw Kangai’s movement of money from one account to another as a possible act of “structuring” and filed a Suspicious Activity Report (SAR).

“We need to reassure institutions they need to take a risk-based approach and identify their customers and level of due diligence they need on those customers,” said Sepideh Behram  commenting on a similar case back in 2008, when he was Senior Compliance Counsel at the American Bankers Association. “Certainly if you have a high political official you may want to take a little more time to look and scrutinize more carefully than you would your average customer.”

The bank needs to get Kangai cleared seeing he has no case to answer in local courts back home or outside so that he may indeed move on with his life in this case so his son’s education in Sweden is not stagnant.
The telecommunications guru cited his rise as an engineer being trained by Western Universities to become who he is today further saying
”l was
employed by the Posts and Telecommunications Corporation, FTC after
graduating in Telecommunications Engineering, attaining Chartered Engineer
status in 1987, through the UK institution of Electrical Engineering, IEE, the UK
Institution of Electronics and Radio Engineers, IERE and Corporate membership
of the Zimbabwe institute of Engineers, ZIE, rising through the ranks on
promotion based merit in the Telecommunications Planning and Development
Group of the FTC, eventually being promoted to run Netone, then a Division of
the PTC as General Manager and not through any political affiliations.”
Kangai has had enough of this dilly dallying which is really causing his son to lag behind and says he has a valid reason to get his son access to the monies.
”I made another fallow-up today and spoke to…who advised me that the Bank’s Risk Department advised that they couldn’t
clear me for International payments, due to outstanding Court matters.”
The outstanding court matters are a topic for another day but clearly put even the UN advocates for the right to education and seemingly the international banks are in malpractice to this effect.

Reward Kangai is the former Chief Executive Officer of NetOne Zimbabwe. 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.

The engineer former telecomms boss would not divulge which bank nevertheless investigations by TechnoMag led to first capital as some officials confirmed knowledge of the transactions.

Ross Moyo

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