Savanhu clings to Hwange vehicle

Business
BY THEOPHILUS ANDERSONOUSTED Hwange Colliery Company Limited (HCCL) board chairman, Tendai Savanhu is reportedly clinging to a company vehicle despite efforts by management to recover the state-of-the-art all-terrain car since it remains on  the coal miner’s books.

The car, a Land cruiser VX200, was used by Savanhu to conduct company business during his ill-fated tenure as  board chairman. Savanhu,  a prominent Zanu PF official, and his entire board were ousted last month by shareholders at a stormy Annual General Meeting (AGM). He had been at the helm of the coal miner since 2006.

Sources close to latest developments said following a rescheduled AGM that was held on August 3, the newly elected board members immediately tasked colliery management, through its MD Fred Moyo, to ensure that the vehicle valued at more than US$100 000 was returned.

“The new board felt that it was unheard of for a non-executive chairman to cling to a pool vehicle despite his tenure having expired as it was bound to set a wrong precedent,” said a source familiar with the goings-on at the country’s largest coal producer.

The newly elected board members include Farai Mutamangira, Lucas Nkomo, Valentine Vera, Siphiwe Mapfuwa, Nkosilathi Jiyane, Jemmister Chininga, Ian Haruperi, Shingi Chibhanguza and Johnson Mawere.

However, efforts to have the vehicle returned appeared to have hit a brick wall as Savanhu bluntly told the colliery management that he still had some “unfinished business” with the company.

Following the ouster of the Savanhu-led board by shareholders, Mines and Mining Development minister, Obert Mpofu is reported to have challenged the new board of directors to assert their authority in representing the interests of shareholders in line with corporate governance principles.

“It seems the minister was miffed by the arrogance shown by the Savanhu-led board despite being procedurally shown the exit door,” said the source. Government and British businessman Nicholas van Hoogstraten control HCCL with over 67%.

Savanhu confirmed on Friday he had the car but referred all questions to the colliery’s Moyo. “You can get correct information from the  managing director. He is the accounting officer and he knows the rules and regulations of the company,” he said.

Moyo told Standardbusiness  that he was not “involved in those issues” and said either Savanhu or the shareholders could comment. Prince Mupazviriho, the permanent secretary in the Ministry of Mines was not available for comment.

Other than Savanhu, HCCL shareholders fired Fortune Chasi, Thabani Ndlovu, Shingirai Mutumbwa, James Nqindi, Thandiwe Mlobane, Rosemary Sibanda, Prisca Mupfumira and Alpheus Ngapo from the board.