#MondayBlues: Kangai Openly Fights Mandiwanzira.

 

The usually soft spoken and diplomatic executive has probably learnt a new way to handle his three month suspension after firing his first ever public spate against his former boss, the minister of ICT Postal and Courier Services, Hon Supa Mandiwanzira, MondayBlues has learnt. 

The Suspended NetOne CEO Mr Reward kangai who is now in his third month of suspension will likely not wait for the forensic audit outcome but has already escalated his moves to lobby the highest office for attention over his suspension.

While we may have broken the news that kangai was already courting the the president of Zimbabwe, HE Cde Robert Mugabe over the matter. The daily news announced of a 55 page dossier that has been sent to cabinet secretary Misheck Sibanda to which Kangai is using to stop the suspension.

Kangai is arguing that the “decisions to undertake a forensic audit (at) NetOne and for him to be put on forced leave were not board decisions, but directives from the minister and the board chairman after resistance to make unprocedural payments to a bogus entity named Megawatt Energy (Megawatt), Kangai said in an April 21 letter to Cabinet secretary.

Even, though, the local forensic audit was being done by the reputable PriceWaterhouseCoopers, Kangai made an impassioned plea for an independent commission of inquiry to be set up suggesting that, It will be clear from the chronology of events that the two (minister and Marufu the board chairman) have literally ganged together to push their hidden agenda .

Kangai defended that NetOne grew significant market share, which has been disproportionate to its capital investment $400 million versus $2 billion by Econet to-date and yet market share is about 30,7 percent or 3,8 million subscribers for NetOne against 53,9 percent for Econet,

The dossier went on to allege that the new Reserve Bank regime was out to clear the entire team from his era, a process superintended by new chief financial officer Sibusisiwe Ndlovu while it also suggests that Mr Marufu was initially against the $600 million China Exim Bank loan facility for network expansion signed in August 2014, yet he is now taking credit for it.

The Hon minister has maintained that he had nothing personal against Kangai and the company is only going though a forensic audit as a standard procedure after the CFO has highlighted some serious grey areas which linked to potential fraud.

Speaking in Bulawayo over the same matter, Hon Mandiwanzira said that the government will wait for the outcome of the audit to decide how it handles the matter, and t would have been ill advised for him to ignore the request by the board to have an audit over many queries raised.

Speaking to TechnoMag on a side note of the same address, the minister said that Kangai did not need to lobby anyone at all from the political corridors but wait for the outcome of the audit if there was nothing really to hide, then sanity must prevail, he however hinted that arrests will be made if Kangai found guilty 

The minister was also greatly concerned about how NetOne continued to make losses while on market share it had 30% of the chunk against a profit making competitor in the same industry which was really a red flag.

 

 

 

Steward Bank Made A $ 5.4mil Profit After Tax.

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