{"id":24831,"date":"2020-07-02T19:49:50","date_gmt":"2020-07-02T17:49:50","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=24831"},"modified":"2020-07-02T19:49:50","modified_gmt":"2020-07-02T17:49:50","slug":"rbz-governor-in-conflict-of-interest-storm-involving-zamco","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/rbz-governor-in-conflict-of-interest-storm-involving-zamco","title":{"rendered":"RBZ Governor In Conflict Of Interest Storm Involving ZAMCO"},"content":{"rendered":"<p class=\"js-tweet-text tweet-text txt-size-variable--18 margin-b--10 with-linebreaks padding-t--10\" lang=\"en\">Former Chief of Staff in the late former Prime Minister Tsvangirai\u2019s office, Alex Magaisa has suggested that the Reserve Bank of Zimbabwe governor, John Mangudya might have breached corporate governance principles.<\/p>\n<p class=\"js-tweet-text tweet-text txt-size-variable--18 margin-b--10 with-linebreaks padding-t--10\" lang=\"en\">Below is Magaisa\u2019s Twitter thread.<\/p>\n<blockquote>\n<p class=\"js-tweet-text tweet-text txt-size-variable--18 margin-b--10 with-linebreaks padding-t--10\" lang=\"en\">ZAMCO-Mangundya-AfreximBank 1. Last week I did a thread on the RBZ-ZAMCO-CBZ axis of corruption &amp; showed how the bank formerly headed by RBZ Governor Mangundya was the principal beneficiary of the ZAMCO scheme that he set up upon taking office. Today, it\u2019s about\u00a0<a class=\"link-complex\" href=\"https:\/\/twitter.com\/afreximbank\/\" target=\"_blank\" rel=\"noopener user noreferrer\" data-user-name=\"afreximbank\">@<span class=\"link-complex-target\">afreximbank<\/span><\/a><\/p>\n<\/blockquote>\n<div class=\"Q65Pjhi5\">\n<p>2. One of the banks that sold non-performing loans is AfreximBank, the only non-Zimbabwean financial institution in the list. @afreximbank is based in Cairo. It has a regional office in Harare. I was surprised to see it on the list of banks from whom NPLs were bought by ZAMCO.<br \/>\n3. AfreximBank doesn\u2019t just give loans to the likes of Tom, Dick &amp; Harry. Whoever got these loans &amp; failed to repay is no small person. @afreximbank made reckless lending decisions. Didn\u2019t it ask for collateral? Why should the Zim taxpayer pick the cost of their recklessness?<\/p>\n<p>4. This is why it\u2019s important to know who is on the list of borrowers who got loans from @afreximbank but failed, refused or neglected to pay them back. It is because of that failure that they became NPLs &amp; now the Zimbabwean taxpayer is carrying the cost #ZAMCOlist<br \/>\n5. RBZ Governor John Mangundya is a board member of @afreximbank and has been for a long time. This places Mangundya at the centre of 2 relationships with ZAMCO, 1st as CBZ CEO, which sold US$698 million NPLs &amp; 2nd as AfreximBank Director which sold US$42,7 million NPLs.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former Chief of Staff in the late former Prime Minister Tsvangirai\u2019s office, Alex Magaisa has suggested that the Reserve Bank of Zimbabwe governor, John Mangudya might have breached corporate governance principles. Below is Magaisa\u2019s Twitter thread. ZAMCO-Mangundya-AfreximBank 1. Last week I did a thread on the RBZ-ZAMCO-CBZ axis of corruption &amp; showed how the bank [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":8598,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[450,393],"class_list":{"0":"post-24831","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-policy","9":"tag-mangudya","10":"tag-tsvangirai"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBZ Governor In Conflict Of Interest Storm Involving ZAMCO - zimbabwe<\/title>\n<meta name=\"description\" content=\"Former Chief of Staff in the late former Prime Minister Tsvangirai\u2019s office, Alex Magaisa has suggested that the Reserve Bank of Zimbabwe governor\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-governor-in-conflict-of-interest-storm-involving-zamco\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ Governor In Conflict Of Interest Storm Involving ZAMCO\" \/>\n<meta property=\"og:description\" content=\"Former Chief of Staff in the late former Prime Minister Tsvangirai\u2019s office, Alex Magaisa has suggested that the Reserve Bank of Zimbabwe governor\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-governor-in-conflict-of-interest-storm-involving-zamco\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-02T17:49:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/2019\/05\/John-Mangudya-1280x720.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-governor-in-conflict-of-interest-storm-involving-zamco\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-governor-in-conflict-of-interest-storm-involving-zamco\",\"name\":\"RBZ Governor In Conflict Of Interest Storm Involving ZAMCO - 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