By TellZim Reporter
Chiredzi – The Acting Managing Director of Cotton Company of Zimbabwe Limited (Cottco), Munyaradzi Chikasha (46), appeared before a Harare Magistrate facing charges of corruption and money laundering and was remanded out of custody to June 12.
He was granted USD100 bail and part of his bail conditions was not to interfere with witnesses, surrender his passport and report weekly to the police.
Chikasha is accused of concealing a personal interest in financial transactions related to his employer’s operations and was arrested by the Zimbabwe Anti-Corruption Commission.
Circumstances are that, Chikasha, formerly employed as the Business Manager at Cottco’s Chiredzi depot, allegedly planned a scheme in 2021 to financially benefit from Cottco’s transportation contracts without disclosing his vested interests.
He purportedly purchased two trucks which were registered under his nephew’s name, instructing the nephew to open a bank account to receive payments for transportation services rendered to Cottco.
Under this arrangement, contracts for transportation were executed directly with Chikasha’s nephew through the Cottco Chiredzi Depot.
Chikasha’s trucks reportedly consistently received assignments on well-maintained routes, and payments for their services were settled, even while other transporters were allegedly left unpaid.
The money laundering charges cascade from allegations that Chikasha used proceeds from these transportation services to acquire additional trucks and finance the construction of his residence.
