Companies keep their secrets too


A former director of a Bulawayo-based company who allegedly misappropriated more than $1 million and now runs his own business in the same city is apparently running around scot-free because the company decided not to press charges against him but instead reached a gentleman’s agreement that he pays back the money.

The businessman is therefore running his own business but the books are being taken care of by his previous company and they will continue to do so until they have recovered all their money.

Sources say this is not likely to take long because the business is thriving. Clients are pouring in not knowing that the owner is in such a fracas. So much for a gentleman’s agreement, or is it merely protecting kith-and-kin?

One wonders what would have happened if a black manager or director had been involved.

Our sources say it was actually black managers who discovered the alleged misappropriation but somehow they are keeping their mouths shut.


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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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