Hwange Colliery boss suspended

HWANGE Colliery Company yesterday suspended its managing director, Thomas Makore, on allegations of corruption.

BY XOLISANI NCUBE

Acting board chairperson, Juliana Muskwe, in a statement yesterday said the measure was taken following reports of disharmony within the company’s top management.

“Hwange Colliery Company wishes to advise shareholders and members of the public that it has become aware of allegations of impropriety that have emerged following a dispute of two senior company officials. As such, the company advises that it has instituted formal investigations into those allegations and shareholders and members of the public shall be advised of the outcome in due course,” the statement read in part.

Makore, who recently had a nasty public spat with company secretary Allen Masiya, confirmed his suspension, but could not divulge the circumstances and reasons.

“It’s, true I have been suspended,” he said.

Makore took over the levers of power at the colliery company in 2014 and since then, the company’s fortunes have been on the decline, with analysts blaming his management of running down the country’s leading coal producer.

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Government holds 37% shareholding in the struggling coal miner.

Hwange’s balance sheet has been deteriorating in recent years from a positive shareholders’ equity of $37,2 million in 2014 to a negative $167,7 million in 2016.

Its liabilities outstripped assets by $168 million.

In 2017, the company registered a loss of $43,84 million, while corruption and underhand deals topped its activities.

Its workers have gone for months without salaries and, at some point, the company planned to sell its properties to sustain operations.

HCC spends $1,8 million on salaries for its 2 045 workers every month, but needs only about 1 000.

The company also faced challenges in dealing with legacy debts, frequent breakdown of equipment, and high production costs which were causing the company to fail to break even.

For more than 100 days, wives of Hwange Colliery workers have been demonstrating at the company’s premises, demanding that their husbands be paid.

They have also been calling for Makore’s sacking, whom they accused of corruption, inept and not sensitive to their plight.

President Emmerson Mnangagwa had to dispatch Home Affairs minister Obert Mpofu to address the demonstrating women, but they could not take his word, as they accused Makore and his executive of corruption.

5 Comments

  1. Mwemba Villager

    Good riddance this man was very corrupt and the most inefficient CEO ever to run the colliery. If the management is sincere the colliery management need to be fired as well coz they take the mine as their personal property.
    Nothing is operational at the mine.

    1. So you think this government and the previous one were not aware of the MD’s shortcomings since 2014!!!!

    2. Listoling Regacy Malawi Zim VP

      Tribal considerations, instead of competency in appointing the leadership of the Colliery have been its curse. Can you even imagine that this is a company in Matland and yet throughout its history since its founding has never been led by a person from Matland. It was first led by Whites and after independence its been Shona all the way and all of them appointed corruptly on tribal grounds. The most successful Black Manager the Company has ever had since the 1980s, Brighton Ncube who basically sustained the Colliery through the time he was the Opencast Manager was hounded out by the Masvingo ZANU PF clique of Rugare Gumbo, Winston Chitando, Bwerinofa, Claudius Wabatagore, Fred Moyo etc. Today he is thriving in South Africa, benefiting the economy of another country; after being rejected by his own on tribal grounds. Zimbabwe is a curse. This ZANU will never chang; no matter how much they pretend. Its all lies – with or without Mugabe as President!

  2. It’s the culture whenever government runs these big institutions…
    The give themselves hefty salary packages every month and corruption is their game in town…
    time has come to loot for the last time because come September we shall hear no more of this game in town…
    Very selfish rulers we have in this country… even these directors and MDs are rulers of their own world.. Mumabasa umu ummm zvakaoma tichinevachena vehudzvanyiriri chaivo

  3. Us Zimbabweans must scale down corruptions by 98% and build our ECONOMY, YES investors may come,to support us to revive our Economy,THE MOMENT they realize that we are too corrupt they will pull out. We need to change our attitudes and forge ahead in building our Country. We have a vital role to play if we have our country at heart. Zimbabweans ,Zimbabweans, Zimbabweans,Zimbabweans,Zimbabweans, Zimbabweans, Zimbabweans, We have a BLESSED COUNTRY, WITH GREAT PEOPLE, WHO CAN DRIVE THE COUNTRY TO INFINITE HIGHTS OF DEVELOPMENT.

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