War Veterans’ Company Faces Closure

In an interview, the Zexcom coordinator, Shelter Muchechesi Mpofu, confirmed that the meeting will be held on Saturday.

“We are going to update our shareholders, the members, concerning the liquidation application by three of our members. What has been happening is that most of the membership did not get a chance to be updated on the issue of liquidation besides what they saw in the newspapers.

“We had asked our liquidator, Victor Muzenda, to organise this meeting but he has been reluctant. If there will be any resolutions made, we know where we will take them to because we have been requested by our authorities to call for this meeting,” he said.

A row erupted in Zexcom with some shareholders calling for the dissolution of the firm that faces collapse owing to alleged mismanagement.

Some ex-combatants led by Andrew Ndlovu, Robert Mlalazi and John Ngwenya successfully applied at the Bulawayo High Court last year to have the company placed under liquidation and Victor Muzenda was appointed provisional liquidator.

However, the other group represented by the coordinator Mpofu, accused the judge Justice Lawrence Kamocha of bias in the list of complaints, copied to President Robert Mugabe, Justice and Legal Affairs minister Patrick Chinamasa, Attorney-General Johannes Tomana and the Law Society of Zimbabwe.

Zexcom is a war veterans’ company with 5 370 shareholders drawn from across the country and property with an estimated total value of $6 084 000.

The freedom fighters came together under the leadership of the late national hero Chenjerai Hunzvi and pooled their resources together after getting Z$50 000 gratuity each from Government.

ZEXCOM coordinator, Mpofu said members will meet to discuss the impending liquidation of the company that might be the end of the firm.

Mpofu said the general membership of the company was opposed to the liquidation as it will mean that, “there will no longer be ZEXCOM ever”.

“That is the truth of the matter. That is what they applied for, they want to destroy ZEXCOM. We are expecting members to attend from all over Zimbabwe. We expect them too to attend.

“ If they are shareholders, they should attend; but I think they will be scared because if the matter is put to vote, they will lose. They did what they did without consulting shareholders in a proper AGM,” he said.

Contacted for comment on the AGM, Ndlovu said those who have called for it did so outside the law.

“These people who are talking about an AGM are just mad. How can they call for a meeting for a company whose property is being sold?

“Whatever they are doing is illegal. You can’t call an AGM for a company under liquidation, a company whose properties are being advertised,” he said.