HomeBusiness DigestNetOne CE suspended as firm launches forensic audit

NetOne CE suspended as firm launches forensic audit


NetOne chief executive Reward Kangai has been sent on forced leave after the company’s board sanctioned a forensic audit into the affairs of the country’s second largest mobile phone operator.

Last week, the Zimbabwe Independent reported that NetOne’s board of directors had ordered a probe into the state-owned telecoms firm amid a series of scandals rocking the company.

This followed a report done by the company’s board chairperson, Alex Marufu, saying incoming NetOne chief finance officer (CFO) Sibusisiwe Ndlovu — who is due to be engaged on a permanent basis after completing her probation amid resistance from top management led by chief executive Reward Kangai — unearthed a series of scandals at the state-run firm which have prejudiced the company millions of dollars.

The company announced on Tuesday that Kangai had been sent on leave.

“The NetOne board of directors would like to advise its valued stakeholders that it has requested the company’s chief executive officer Engineer Reward Kangai to go on leave with immediate effect for three months,” the company said in a statement.

“During his absence the chief operating officer, Brian Mutandiro will be acting CEO of the organisation. The board of directors take this opportunity to assure all stakeholders that business will continue as usual at the people’s favourite network.”

Some of the scandals include lack of suppliers’ reconciliations, payment of funds to companies that are not contracted to NetOne, over-invoicing of contracts and poor accounting methods.-Staff Writer

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