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Soda Fires Petrotrade Board

The Minister of Energy and Power Development, Zhemu Soda, has fired the Petrotrade board of directors on charges of poor corporate governance.

The board was dismissed in terms of Section 16 of the Public Entities Corporate Governance Act.

Soda told a media conference in Harare on Wednesday that the board, which was appointed in May 2021, was dismissed on the recommendation of an independent investigation. He said:

However, I appreciate the position taken by some of the members to resign.

This is acceptable to the ministry and a clear indication of the professionalism and humility with which you have handled the matter.

Soda added that an interim board of directors will be announced soon. | The Sunday Mail

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