Chivayo under-fire over US$5m …as shareholders seek to remove him

By Daniel Chigundu

INTRATEK Zimbabwe shareholders are reportedly trying to figure out what Wicknell Chivayo did with the US$5million paid to the company by ZPC as part payment for the 100MW Gwanda solar project.

The company was awarded a tender for the Gwanda project in 2015 and was given some payments for the work to commence but nothing tangible has been done on the ground raising questions of misappropriation of funds.

Efforts to investigate the whereabouts of the money have been met with resistance by Chivayo who is famed for his lavish shopping and display of opulence on social media.

Appearing before a Parliamentary Committee on Mines and Energy, Bruce Tokwe who is a lawyer for the other shareholders said they have tried to engage Chivayo but he is not cooperating.

“There is need to restructure the board and management of Intratek Zimbabwe Private Limited to make sure there is progress on these projects of national importance.

“We have tried to engage Mr Chivayo here to get some documents, in fact, we have asked the same questions that you are asking in this august house as to what could have happened to the monies etc and even the shareholders themselves are none the wiser.

“We have even approached ZPC and have written several correspondences saying can you please assist us with these things so that we can get this project on track because the people who were the principal funders in the first place need to come in and make sure that there is progress and of course we have not registered any luck that side,” he said.

Chivayo who has an unquenchable thirst for lavish shows has been parading himself as the shareholder of Intratek Zimbabwe yet he ceded his shareholding in 2014 after he reportedly borrowed some money in exchange.

According to Tokwe they have been trying to deal with Chivayo from the time of former President Robert Mugabe but have been failing and now hope that they can take advantage of the new dispensation to get a grip on the company operations.

“If I show you my file, we have literary been working on this and this alone to try and address that. You see it’s only now that the shareholders have decided that they can have some traction in terms of restructuring management and the board of Intratek Zimbabwe private limited.

“It is also because the dynamics have changed and it is true that the dynamics have changed now and you see the shareholders that we are talking about here are business people with several mandates, in different areas of business and they normally shy away from fights that then escalate out of the boardroom.

“But we feel that now we can enjoy some traction because of obviously the new dispensation so to speak,” he said.

The self-styled businessman has reportedly been hiding behind high ranking Zanu PF officials including the former First-family and would post pictures of him with them to show how connected he is.

 

 

 

 

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