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A 5-member Team Appointed To Probe Petrotrade Governance Issues

A 5-member Team Appointed To Probe Petrotrade Governance Issues

The Ministry of Energy and Power Development has appointed a 5-member team to probe the affairs of the government’s fuel retailer, Petrotrade.

In April, Energy minister Zhemu Soda suspended the Petrotrade board citing corporate governance weaknesses.

In a Public Notice in the Government Gazette of 25 May 2022, said the enquiry began on the 31st of March

General Notice 1185 of 2022.


Appointment of Investigators to Enquire into the Operations, Dealings, Affairs, Membership, Assets and Liabilities of Petrotrade (Private) Limited.

IT is hereby notified, in terms of section 40(4) of the Public Entities Corporate Government Act !Chapter 10:311, that the Minister of Energy and Power Development has appointed the persons specified in the Schedule as special investigators to enquire into the operations, dealings, affairs, membership, assets and liabilities of Petrotrade (Private) Limited, for a period of fifty days (50) days, with effect from 31st March, 2022.

The team is comprised of:

1. Dr. Nation Bobo.

2. Mrs. Patience Zenda.

3. Mr. Berven Andrew Murungweni.

4. Mr. Nicholas Shuva.

5. Mr. Denford Jaricha.

The state-owned oil company has been in the spotlight in recent months over allegations of bad governance.

Some of the issues that made headlines is that of the parastatal’s internal audit manager Erisha Bokoro who was last month implicated in massive corruption.

Bokoro is being accused of covering up his acting chief executive officer Godfrey Ncube’s attempts to siphon over US$300 000 of the parastatal’s funds and consenting to the construction of a filling station without contracts between Petrotrade and suppliers.

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