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Cottco Bosses Arrested Over Corruption Allegations

Cottco Bosses Arrested Over Corruption Allegations

The Zimbabwe Anti-Corruption Commission (ZACC) has arrested two Cotton Company of Zimbabwe (Cottco) bosses who are now facing corruption charges.

The two are, Pius Manamike (managing director ) and Maxmore Njanji (head of ginning, marketing and business development ).

NewsDay reports that they were remanded in custody until Monday when they will be expected to appear in court for bail hearing. ZACC spokesperson John Makamure told the publication:

Manamike was arrested on Tuesday.  He appeared at the Rotten Row Magistrates Court on Thursday and was remanded in custody to yesterday for bail application, whereas Njanji was arrested on Thursday and detained at Avondale Police Station until his court appearance for initial remand yesterday. Their bail bids apparently flopped.

They are accused of securing a contract for their fleet of 40 trucks to deliver inputs from Cottco’s major supplier Ferts, Seed and Grain (FSG) Private Limited.

Government is the major shareholder in Cottco with a 37% stake after its privatisation in 1994. The remaining shares are spread across a number of shareholders with the second largest two shareholders owning 10% shares each.

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6 Comments

mambo chabvonga 1 month ago

koooo kubatsira nyikaa ne transport zvakaipeyi


Billboard Of Public Opinions 1 month ago

Conflict of interest.

Sir Che Guevara 🇿🇼 1 month ago

There is a need for a compliance committe on this parastatal to make sure that there is good corporate governance. Lack of professional ethics among board members is the only disease that is behind the collapse of these corporates


Joe Buoy ❤️ 1 month ago

Ahhhhhh


chipo 1 month ago

kubira varombo....vachakwata nechamdo varipo I have no sympathy for greedy people.
When we die we leave all behind.Becontent with what you have



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