ALLIED Timbers Zimbabwe says an audit of the company by the Auditor-General will unravel whether or not there have been financial transgressions.
BY OUR STAFF
Allied Timbers board chairperson Itai Ndudzo told NewsDay that the audit was not a witch-hunting exercise, but one that would pave the way forward for the company.
“The audit is meant to get information on what is going on and there are a lot of legacy issues and also the focus is not to do with what is in the past,” Ndudzo said.
“There are a lot of dynamics and change within Allied Timbers Zimbabwe, some positive and some negative. I want to deal with empirical facts, I believe if we missed something as a board the audit can identify.”
This comes amid reports that a $20 000 donation to Zanu PF did not reach its intended destination was reportedly signed for by axed chair Emmanuel Fundira.
Zanu PF had asked the State enterprises to bankroll its last year’s congress by buying dinner tables.
According to a letter sent to the Environment, Water and Climate ministry, former Allied Timbers Zimbabwe chief executive officer Joseph Kanyekanye said the company pledged $3 000 which was paid directly to Zanu PF for the dinner dance.
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Kanyekanye said $20 000 was handed over to axed board chairperson Emmanuel Fundira to pass it on to Environment, Water and Climate minister Saviour Kasukuwere.
Fundira was relieved of his duties recently for as yet unclear reasons after serving as board chair for only nine months. Kanyekanye left the company on mutual separation agreement.
Allied Timbers has been rocked by abuse of funds with Fundira, who was last month relieved of his duties as board chairperson, accused of allegedly withdrawing $40 000 in board oversight fees between last December to April.
The parastatal does not provide for such an allowance.
Ndudzo said he was not aware of any resolutions passed by the board committing any money for the congress.
“I am not aware of any resolution passed by our board committing any money for the (Zanu PF) congress,” he said.
“I am aware of the allegations, but the company is subject to an impending audit by the auditor general’s office.”
Ndudzo was appointed into the board in September last year and took over as board chairperson on June 8 last month.
Commenting on Fundira’s dismissal, Ndudzo said: “To be honest with you I don’t know, I am a director at the pleasure of the shareholder, any day the shareholder can remove anyone.
“My understanding, Fundira is a businessman with so many other interests.
“I don’t know if the issue of $20 000 is linked to his removal. No one has informed me as to why Fundira was dismissed.”
He added: “My appointment is the decision which will best serve the company, but as to what the reasons why my predecessor has been removed, I am not aware.”
Fundira said the audit should go ahead in order to serve all by providing answers to some of the allegations being raised against him.
“Why can’t we wait for the audit and see what it says,” Fundira said yesterday.
On the “missing” $20 000 and the $40 000 board oversight fees, Fundira said: “I have not received any formal allegations from the principal and I can’t comment from newspapers (reports).”
