{"id":74794,"date":"2023-03-02T20:05:41","date_gmt":"2023-03-02T18:05:41","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/fresh-details-emerge-on-bancabc-boss-exit"},"modified":"2023-03-02T22:30:28","modified_gmt":"2023-03-02T20:30:28","slug":"fresh-details-emerge-on-bancabc-boss-exit","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/fresh-details-emerge-on-bancabc-boss-exit","title":{"rendered":"Fresh Details Emerge On BancABC Boss\u2019 Exit"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Former BancABC Zimbabwe managing director Lance Mambondiani, who left the bank recently, allegedly violated policies relating to the procurement of vendors where prices are said to have been inflated, reported Business Times.<\/p>\n

Mambondiani was reportedly forced to resign last week immediately after the Albert Katsande-led board engaged an independent external firm to begin \u201cmultipoint\u201d investigations into his alleged malpractices.<\/p>\n

Mambondiani is also being accused of violating the bank\u2019s policies and procedures including those related to governance breaches and management delinquency, among other allegations.<\/p>\n

The BancABC Zimbabwe board is said to have engaged an independent outside investigating firm to investigate Mambondiani\u2019s conduct relating to alleged malpractices.<\/p>\n

Business Times reported sources as saying Mambondiani resigned on 22 February, two days after he was placed on forced leave. Said a source:<\/p>\n

Contrary to the narrative in the market that points to the managing director (Lance Mambondiani) and other members of executive management, resigning because of an impending disposal of BancABC Zimbabwe, the MD was sent on forced leave and resigned two days after an external firm was engaged to conduct an investigation into his malpractices which were brought to the attention of the board by whistleblowers.<\/p>\n

These (accusations being investigated) include violating the bank\u2019s policies and procedures those related to the procurement of service providers who were engaged without following proper procedures for his (Mambondiani)\u2019s interests, abuse of the bank\u2019s holiday homes and lodges at resorts centres in Kariba and Nyanga, banking facilities and abuse of the bank\u2019s assets including vehicles, governance breaches and management delinquency, among a number of improper personal actions.<\/p>\n

Vander Mutenga, who was the substantive finance director, was appointed as acting managing director.<\/p>\n

Mambondiani told Business Times that he would not comment on the matter.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Former BancABC Zimbabwe managing director Lance Mambondiani, who left the bank recently, allegedly violated policies relating to the procurement of vendors where prices are said to have been inflated, reported Business Times. Mambondiani was reportedly forced to resign last week immediately after the Albert Katsande-led board engaged an independent external firm to […]<\/p>\n","protected":false},"author":84,"featured_media":74792,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[1493,2189,6777,7261,7262,19],"class_list":{"0":"post-74794","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-policy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-bancabc","12":"tag-bancabc-zimbabwe","13":"tag-lance-mambondiani","14":"tag-zimbabwe"},"yoast_head":"\nFresh Details Emerge On BancABC Boss\u2019 Exit - zimbabwe<\/title>\n<meta name=\"description\" content=\"Former BancABC Zimbabwe managing director Lance Mambondiani, who left the bank recently, allegedly violated policies rel ...\" \/>\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\/fresh-details-emerge-on-bancabc-boss-exit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fresh Details Emerge On BancABC Boss\u2019 Exit\" \/>\n<meta property=\"og:description\" content=\"Former BancABC Zimbabwe managing director Lance Mambondiani, who left the bank recently, allegedly violated policies rel ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/fresh-details-emerge-on-bancabc-boss-exit\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-02T18:05:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-02T20:30:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/03\/postQueueImg_1677774954.09.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\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=\"2 minutes\" \/>\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\/fresh-details-emerge-on-bancabc-boss-exit\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/fresh-details-emerge-on-bancabc-boss-exit\",\"name\":\"Fresh Details Emerge On BancABC Boss\u2019 Exit - 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