Connect with us

Uncategorized

StanChart Zimbabwe starts probe after reports CEO suspended

Published

on

BY GODFREY MARAWANYIKA

Standard Chartered Plc said it’s investigating allegations of misconduct involving senior management in Zimbabwe more than three weeks after a media organisation reported that the chief executive officer of the unit in that country had been suspended amid a corruption scandal.

Advertisement

In two separate reports in January NewZimbabwe.com said Ralph Watungwa had been suspended and tied him to alleged abuse of a foreign currency auction run by the central bank, as well as allegations of improperly authorized renovations at buildings owned by the bank.

The news website cited people it didn’t identify.

“We are aware of recent press reports concerning serious allegations of apparent misconduct by senior management officials within the organisation,” Lovemore Manatsa, chairman of Standard Chartered Bank Zimbabwe, said in an emailed statement on Thursday.

Advertisement

The reports and the absence of the CEO from work led the Zimbabwe Banks and Allied Workers Union to ask what the status of the executive was while the governor of the Reserve Bank of Zimbabwe  , John Mangudya, said he was waiting for the bank to advise him of what the situation was.

“Too little to late. This is an afterthought that is scarce, insincere and clearly inadequate,” Peter Mutasa, the general secretary of the Zimbabwe Banks and Allied Workers Union, said in an interview on Thursday.

“The bank rushes to announce and to take severe measures against non-managerial employees.

Advertisement

“However, when it comes to its senior executives, it tries to sweep issues under the carpet.”

The union may call for “collective action” to compel the bank to disclose what is being investigated, he said.

Watungwa declined to comment when called earlier this week and didn’t answer a call made to his mobile phone on Thursday.

Advertisement

“Any conduct which is found in letter or spirit to conflict with the principles outlined in our code of conduct and which may impair fair outcomes for colleagues, clients and the regulators will be responded to accordingly,” Manatsa said.

StanChart’s local unit is the oldest financial institution in Zimbabwe. It was founded in 1892 in a tent in Bulawayo, now the second-biggest city in the nation.

That was just two years after an expedition backed by Cecil John Rhodes set up a presence in the country initially known as Southern Rhodesia.

Advertisement

The nation became independent from the United Kingdom in 1980.

The London-based lender now has 390 employees in the country with a head office in the center of the capital, Harare, and competes with local and South African banks. – Bloomberg

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

In the community

EMA, Lupane State University step up fight against deadly Umkhawuzane in Mat North

Published

on

BY WANDILE TSHUMA

The Environmental Management Agency (EMA), in partnership with Lupane State University, has launched a community-based initiative to control and reduce the impact of the toxic plant Dichapetalum cymosum, locally known as Umkhawuzane or Gifblaar, which has caused significant livestock losses in Matabeleland North.

Advertisement

The initiative, focuses on managing the spread of the poisonous plant, which is widely recognised as one of the most dangerous threats to cattle in Southern Africa. Gifblaar is estimated to contribute to about eight percent of livestock deaths linked to toxic plants in the region. The plant contains fluoroacetate, a potent toxin that causes sudden death in animals and poses risks of secondary poisoning through the food chain.

According to EMA, the study was carried out in Ward 18 (Makhovula) in Lupane District and Ward 10 in Umguza District. It combined community sensitisation with mechanical and chemical control trials aimed at identifying effective ways to eradicate the plant.

Community engagements revealed a high level of awareness among farmers about the toxicity of Umkhawuzane. Farmers reported losing an average of three to four animals per household during the winter season, when forage is scarce and the plant remains green, increasing the risk of livestock consumption.

Advertisement

Results from the trials showed that mechanical removal of the plant produced promising outcomes. No regeneration was observed in areas where roots were excavated to depths of between one and 1.5 metres. However, chemical control using glyphosate only led to temporary suppression of the plant and did not achieve complete eradication, while also affecting surrounding vegetation.

EMA said the findings highlight the need for integrated and site-specific management approaches. These include effective mechanical removal, cautious use of chemicals, and continuous community education to prevent further losses.

The agency, together with Lupane State University, reaffirmed its commitment to working closely with local communities to protect livestock, improve rangeland management and reduce the economic losses caused by Umkhawuzane in Matabeleland North.

Advertisement

Continue Reading

National

Zimbabwe fast-tracks approval of long-acting HIV prevention drug Lenacapavir

Published

on

BY WANDILE TSHUMA

Zimbabwe has taken a major step in the fight against HIV following the rapid approval of Lenacapavir, a groundbreaking long-acting injectable for HIV pre-exposure prophylaxis (PrEP). The Medicines Control Authority of Zimbabwe (MCAZ) authorised the drug in just 23 days, marking one of the fastest regulatory approvals in the country’s history.

Advertisement

The application, submitted by pharmaceutical company Gilead Sciences in October, underwent an expedited review because of its public health importance. MCAZ says the fast-tracked process did not compromise scientific scrutiny, with the product subjected to a rigorous assessment of its safety, efficacy and quality.

Lenacapavir is designed for adults and adolescents weighing at least 35kg who are HIV-negative but at substantial risk of infection. Unlike traditional daily oral PrEP, the medicine is administered as a six-monthly injection, following an initiation phase that includes one injection and oral tablets on Days 1 and 2. Health authorities say this long-acting formulation could dramatically improve adherence and expand prevention options, particularly for communities where daily pill-taking is difficult.

MCAZ Director-General  Richard T. Rukwata described the approval as a landmark moment in Zimbabwe’s HIV response.

Advertisement

“The rapid approval of Lenacapavir reflects MCAZ’s dedication to accelerating access to trusted, high-quality health products. This milestone brings new hope for HIV prevention and reinforces our commitment to safeguarding public health,” he said.

To fast-track the process, the Authority applied a regulatory reliance approach, drawing on scientific assessments from the World Health Organization’s Prequalification Programme (WHO PQ). This allowed evaluators to build on internationally recognised review processes while ensuring Zimbabwe’s own standards were met.

The introduction of Lenacapavir comes as Zimbabwe continues efforts to reduce new HIV infections, particularly among young people and key populations who face barriers to consistent PrEP use. Public health experts say the drug’s twice-yearly dosing could be a game changer in improving uptake and protection.

Advertisement

MCAZ says it remains committed to ensuring Zimbabweans have access to safe, effective and good-quality medical products, in line with its mandate under the Medicines and Allied Substances Control Act.

Advertisement
Continue Reading

Slider

ZimParks to host first-ever International Wildlife Conservation symposium

Published

on

BY NOKUTHABA DLAMINI

The Zimbabwe Parks and Wildlife Management Authority (ZimParks) will hold its inaugural International Wildlife Conservation Symposium under the theme “Wildlife Conservation and Sustainable Development.”

Advertisement

The two-day event, scheduled for October 22 to 23, next week, will take place at the Management Training Bureau in Msasa, Harare. It will bring together conservationists, researchers, policymakers, and students to discuss key issues around wildlife protection and sustainable development.

The symposium will focus on eight sub-themes, namely Wildlife Conservation and Transboundary Management, Freshwater, Fisheries and Aquatic Management, Sustainable Tourism and Socio-Economic Development, Human-Wildlife Interactions, Environmental Health and Safety, Climate Change Adaptation and Mitigation, Community-Based Natural Resource Management, and Natural Resource Policy and Governance.

ZimParks says the symposium will provide a platform to exchange ideas and deepen understanding of the link between wildlife conservation and sustainable development. Members of the public, students, and professionals are encouraged to attend.

Advertisement

 

Advertisement
Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage