Cottco acting MD in court on corruption, money lau...

Cottco acting MD in court on corruption, money laundering charges

Patience Muchemwa

Zim Now Reporter

Cottco Zimbabwe's Acting Managing Director, Munyaradzi Chikasha (46), faces corruption and money laundering accusations after appearing before the Harare Magistrates' Court. The Zimbabwe Anti-Corruption Commission (ZACC) arrested Chikasha.

Prosecutors allege that in 2021, while serving as Cottco's Chiredzi depot business manager, Chikasha devised a scheme to enrich himself. He reportedly purchased two trucks, registering them under his nephew's name. Chikasha allegedly instructed his nephew to open a bank account specifically to receive payments for transporting Cottco goods.

A questionable contract for transportation services was then established between Chikasha's nephew and the Chiredzi depot. These trucks, allegedly assigned routes on well-maintained roads, were subsequently used to transport cotton on multiple occasions.

The National Prosecuting Authority (NPA) claims Chikasha prioritized payments for his own trucks, ensuring they were settled promptly, even while other transporters with a longer service history for Cottco remained unpaid. This alleged act highlights potential favoritism towards his own interests.

Money laundering charges further complicate Chikasha's situation. The NPA alleges he used the ill-gotten gains – money obtained from the transportation scheme – to finance the purchase of two additional trucks and the construction of his house.

Chikasha was granted bail of US$100 and will return to court on June 12, 2024