GOVERNMENT has pulled the rug from under the feet of the Julian Muskwe-led Hwange Colliery board, by placing the company under reconstruction.
BY BLESSED MHLANGA
Through general notice 937 of 2018 in an extraordinary gazette, Justice minister Ziyambi Ziyambi ended Muskwe’s rein and appointed Bekithemba Moyo as the administrator of Hwange.
Moyo will be assisted by Mutsa Remba and Munashe Shava to run Hwange Colliery.
“In terms of section 4 of the Reconstruction of State Indebted Insolvent Companies Act, issues an order in relation to Hwange Colliery Company Limited, appoints Moyo, the co-founder and director of DBF Capital Partners, to be administrator of the company under reconstruction, together with the following assistant administrators under his control and direction,” he said.
Mines permanent secretary Onisimo Moyo immediately wrote to the Hwange company secretary, informing him that the board was no longer empowered to run the company.
“Find attached a self-explanatory Government Gazette for your information,” the brief letter read.
Muskwe and her team had been canvassing with shareholders after effecting a massive shake-up at Hwange, suspending the entire top management.
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The gazette effectively suspends powers of the shareholders and dumps the entire board, which had refused to resign at the request of Mines minister Winston Chitando.
“Any person managing or controlling the companies affairs in any capacity other than simply the member of the referred above shall continue in the office subject to the control and direction of and answerable to the administrator and confers upon the administrator the power subject to rights of the creditors if the company to raise money in anyway without the authority of shareholders for the reconstruction of the companies,” the gazette read.
Last week, Parliamentary Portfolio Committee on Mines chairperson Temba Mliswa claimed a shadowy Kwekwe-based character abducted Hwange Company internal auditor, identified as Mudenda, over fights into a forensic audit of the coal miner.
