[ad_1]
Vice President Constantino Chiwenga called on Hwange Colliery Company's board of directors to consider the government's calls to resign, stating that investigations into the corruption of suspended executives would be followed.
The Vice President added that the board should accept the government was determined to see the successful turnaround of the Hwange Colliery Company that was boosted by the recent commissioning of the Hwange Power Station 7 and 8 Extension by President Mnangagwa.
President Mnangagwa recently presided over the inaugural ceremony of Hwange Expansion Station Station 7 and 8. The expansion is expected to generate an additional 600 megawatts, which will allow the company to double its current average production which is about 600 megawatts.
Speaking Wednesday at a rally in Hwange, VP Chiwenga said the government had nominated its candidates for the new Hwange Colliery Company Board and this decision should be respected to pave the way for new appointments and the revival of the company.
However, the changes of the government have not been made since those who are abandoned must resign on their own in the absence of an Extraordinary General Assembly. The two directors whom the government has asked to resign are Mr. Edward Tome and Ms. Masuku. Both refused to resign despite the fact that the nominating authority, the government, is asking them to resign.
Both refuse to resign, fearing that their advice may be dissolved amidst corruption investigations involving senior executives. l & # 39; company. Vice President Chiwenga said the government is committed to ensuring that all concerns are addressed, including corruption investigations.
The Vice-President reiterated that Hwange Colliery was nearly liquidated in 2016. He assured the government to ensure that the payment of unpaid wages of employees is honored.
He pointed out that the government, working through the Minister of Mines and Mineral Development, would ensure that the problems Hwange
Hwange Colliery Company narrowly escaped liquidation in 2016 when the creditors' arrangement plan was put in place.
It is understood that the reports of the plan administrator Andy Lawson indicate that the company has managed to honor its obligations to date.
The Sunday Mail Business understands Regarding the current members of the board of directors, the government asked two of them to resign and further proposed the appointment of four additional directors, bearing the total number to six.
It is understood that the second largest shareholder of Hwange The British magnate Nicholas van Hoogstraten withdrew its directors to the board of directors three years ago and the director representing Acer Mittal, the third largest shareholder resigned in 2017.
Only government-appointed trustees remain on Hwange Colliery's board of directors. Vice President Chiwenga said at the rally last week that having officiated during the expansion of Steps 7 and 8 by the President offered Hwange Colliery tremendous opportunities to meet the needs of the community. significantly increase production and improve its viability.
9 views, no photos today
Source link
