Mphoko No Longer Choppies Shareholder

The Mphokos’ lawyer, Professor Welshman Ncube,  last night confirmed to The Chronicle that his clients former Vice-President Phelekezela Mphoko and his son, Siqokoqela are no longer shareholders of Botswana-based Nanavac Investments, trading as Choppies Supermarkets Zimbabwe.

The Mphokos agreed to be bought out of the company to end a protracted ownership wrangle. Ncube said he has since released a joint statement with Choppies Enterprises lawyer Mr Munyaradzi Nzarayapenga notifying the public about the latest development. The statement reads:

We have been instructed by our clients Choppies Enterprise, Phelekezela Mphoko and Siqokoqela Mphoko, to advise the public and all staff of Nanavac Investments trading as Choppies Zimbabwe that on 9 January 2019 the shareholders and directors amicably resolved and settled all issues, matters, cases and disputes between and among themselves so that there are no longer any outstanding between our respective clients, who further advise that the Mphokos have disinvested from Choppies Zimbabwe and have no further interests in the company and its business. Our respective clients wish each other well in their present and future endeavours.

In an interview, Ncube said his clients would be paid for 51 percent shareholding, but could not state the amounts of money involved.


More: Herald

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