Jane Mutasa is Zimbabwean businesswoman and investor known for founding Indigenous Business Women's Organisation (IBWO) in 1994 and for being involved in a fight with James Makamba for Empowerment Corporation shareholding.

Dr
Jane Mutasa
Jane Mutasa
Born Jane Mutasa
Nationality Zimbabwe
Occupation
  • Businesswoman
  • Investor
Organization Indigenous Business Women's Organisation
Known for Telecel Zimbabwe Shareholding via Empowerment Corporation

Contents

Entreprenuership

In the 1980's Mutasa founded and ran a clothing business. By 1994, Mutasa had set up Indigenous Business Women's Organisation (IBWO). The organisation's objective was to help women to start and own businesses as well as offering advice to existing ones.[1][2]

IBWO and Empowerment Corporation

In 1996, IBWO was part of 9 organisations put together by local entrepreneur James Makamba, to create a consortium of empowerment based groups under the banner of an organisation called Empowerment Corporation (EC). IBWO along with the other empowerment groups, had 9% shareholding in EC. Makamba's investment company, Kestrel, had 15% shareholding. Leo Mugabe's Integrated Engineering Group had 10%.

Positions Held

Telecel Zimbabwe

Theft

Mutasa was arrested in 2010 together with her other two accomplices for the theft of airtime recharge vouchers valued at around US$1,7 million. The trial of the two however failed to take over after the prosecutor general argued that their was not enough evidence to incriminate Mutasa and company.[4] Although the company tried to institute a private prosecution on Mutasa over the alleged theft, the move did not materialise after the prosecutor general failed to give a Certificate for private prosecution.[4]

Shareholding

There has been a lot of controversy surrounding Jane Mutasa's shareholding in Telecel Zimbabwe. The company was at one point arguing that Jane Mutasa was no longer a shareholder after she had misappropriated company funds from the sale of recharge cards.[5] With the proposal by Brainworks Capital to buy Telecel shares, Jane Mutasa was said to have been against the move arguing that there were several inconsistencies chief among them being that James Makamba had stolen Empowerment Corporation (EC) shares.[6] Mutasa shareholding is also contested by the likes of Leo Mugabe who argue that she also stole shares by transferring them into her own company.[6]

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Controversies

Robbery

In 2009 it was reported that Jane Mutasa had been a victim of an armed robbery and she had lost her Mercedes Benz and cash amounting to US$20 000.[10]

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References

  1. Trouble multiplies for Jane Mutasa, 'Zimbabwe Situation', Published:14 Mar 2010, Retrieved: 16 May 2014
  2. Support empowerment initiatives — IBWO, 'Herald', Published: 7 Mar 2011, Retrieved: 16 May 2014
  3. Employment History, Retrieved: 16 May 2014
  4. 4.0 4.1 Jane Mutasa faces prosecution over US$1,7m airtime fraud, The Herald, Published: January 29, 2014, Retrieved: January 29, 2015
  5. Tendai Kamhungira Mutasa is not our shareholder — Telecel, Daily News, Published: July 15, 2014, Retrieved: January 29, 2015
  6. 6.0 6.1 LSM Kabweza Selling Telecel won’t sail smooth. Mutasa opposes it. Shareholding one big mess, TechZim, Published: January 29, 2015, Retrieved: January 29, 2015
  7. Daniel Nemukuyu, JANE MUTASA ARRESTED OVER TELECEL SCAM, 'Nehanda Radio', Published: 9 Mar 2010, Retrieved: 16 May 2014
  8. Telecel suspends Mutasa over fraud, 'Neq Zimbabwe, Published: 20 Mar 2010, Retrieved: 16 May 2014
  9. Fidelis Munyoro, Jane Mutasa faces prosecution over US$1,7m airtime fraud, 'Herald', Published: 29 Jan 2014, Retrieved: 16 May 2014
  10. Zimbabwe: Four Arrested Over Jane Mutasa Robbery, The Herald, Published: April 29, 2009, Retrieved: January 29, 2015