Zinona Koudounaris
| Zinona (Zed) Koudounaris | |
|---|---|
| Born | Zinona Koudounaris |
| Education | Bachelor of Commerce |
| Alma mater | Rhodes University |
| Occupation |
|
| Employer | Innscor Africa Limited |
| Known for | Innscor |
Zinona Koudounaris, commonly known as Zed Koudounaris, is a Zimbabwean entrepreneur known mostly for having co-founded Innscor Africa Limited.
Education
He completed his tertiary education at Rhodes University in South Africa where he attained a Bachelor of Commerce degree, majoring in Business and Computer Sciences.
Innscor
Koudounaris has served as Non-Executive Director of innscor since April 1996. Zed is a founder shareholder of the Group and was the driving force behind the initial creation and success of the Group’s core fast food brands. Koudounaris has held a number of positions within the Group including Chief Executive Officer upon the Group’s listing in 1998.
Panama Papers
In May 2016, an investigation into the Panama Papers revealed that Koudounaris and fellow co-founder Michael Fowler, operating through lawyers and accountants, had opened four companies in the British Virgin Islands and transferred money from their salaries to the firms in 2015. This was apparently in violation of Zimbabwe's laws which prevent money earned in Zimbabwe from being transferred to offshore accounts unless approved by the central bank.[1]
Further Reading
In February 2022, more information was forthcoming: Zed started Innscor Africa Limited with his friend Michael Fowler in 1997. A chicken and chips shop has over the years grown into a diversified company with annual revenue of more than $600-million and has spun off other businesses and separately listed them. Koudounaris is at the centre of the company’s expansion drive and has been able to navigate the concerns of the Competition Commission due to his access to connections in the government. Innscor’s National Foods supplies maize and rice to army barracks. But the army also has its own farms in the southeast of the country where it grows crops including maize. Koudounaris’s go-between with government and political functionaries is Musekiwa Khumbula, a former journalist and information ministry officer who works as a consulting executive for Innscor. Reports say many government officials and ruling party types throng Khumbula’s office seeking financial favours from Koudounaris. In 2016 Koudounaris and Fowler were named in the Panama Papers as having opened four companies in the British Virgin Islands and transferring money from their salaries, against the country’s forex regulations. The two were never charged. [2]
References
- ↑ Ray Choto, Zimbabwe's Innscor Africa Directors Ensnared in Panama Papers, Voice of America - Zimbabwe, Published:9 May 2016, Retrieved: 16 May 2016
- ↑ Mnangagwa’s oligarchs: The heirs of Cecil Rhodes, Daily Maverick, Published: 7 February 2022, Retrieved: 11 February 2022
