Energy and Power Development Minister Fortune Chasi has nullified the suspension of ZESA Holdings board members by the board’s executive chairman Sydney Gata.
Gata suspended all the eight ZESA board members after Chasi last week gave the Zesa Holdings board five days to initiate investigations into allegations of corruption and mismanagement against the embattled executive chairman.
Speaking to State media on Friday, Chasi said the move by Gata was a legal nullity and vowed to end the “irrationality” prevailing at the parastatal. Said Chasi:
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Government is deeply concerned by the allegations made against him and his complete disdain for corporate governance, Governmental authority and more importantly, the importance of Zesa in the economy.
His purported firing of the board, which itself is a legal nullity, suggests simply that the wheels have come off.
The Government and the board are taking all necessary steps to ensure that the prevailing irrationality is quickly curtailed.
Gata had earlier issued a statement in which he purportedly suspended the other board members, threatening that several corruption-related arrests were looming, including of board members and senior managers.
Meanwhile, investigations against Gata started last week following allegations that he may have allocated for his personal use five ZESA vehicles over and above his official Mercedes Benz, among other misdemeanours.