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Welder

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Former BancABC Zimbabwe managing director Lance Mambondiani, who left the bank recently, allegedly violated policies relating to the procurement of vendors where prices are said to have been inflated, reported <a href="https://businesstimes.co.zw/fresh-details-on-bancabc-boss-exit/">Business Times</a>.
Mambondiani was reportedly forced to resign last week immediately after the Albert Katsande-led board engaged an independent external firm to begin “multipoint” investigations into his alleged malpractices.
Mambondiani is also being accused of violating the bank’s policies and procedures including those related to governance breaches and management delinquency, among other allegations.
The BancABC Zimbabwe board is said to have engaged an independent outside investigating firm to investigate Mambondiani’s conduct relating to alleged malpractices.
Business Times reported sources as saying Mambondiani resigned on 22 February, two days after he was placed on forced leave. Said a source:
<blockquote>
Contrary to the narrative in the market that points to the managing director (Lance Mambondiani) and other members of executive management, resigning because of an impending disposal of BancABC Zimbabwe, the MD was sent on forced leave and resigned two days after an external firm was engaged to conduct an investigation into his malpractices which were brought to the attention of the board by whistleblowers.
These (accusations being investigated) include violating the bank’s policies and procedures those related to the procurement of service providers who were engaged without following proper procedures for his (Mambondiani)’s interests, abuse of the bank’s holiday homes and lodges at resorts centres in Kariba and Nyanga, banking facilities and abuse of the bank’s assets including vehicles, governance breaches and management delinquency, among a number of improper personal actions.
</blockquote>
Vander Mutenga, who was the substantive finance director, was appointed as acting managing director.
Mambondiani told Business Times that he would not comment on the matter.
More <a href="https://zero.pindula.co.zw/">Pindula News</a>

Pindula News

Fresh Details Emerge On BancABC Boss' Exit

<div class="post_category">
President Emmerson Mnangagwa has accorded a state-assisted funeral to the late Zimbabwe Investment and Development Agency (ZIDA) Chief Executive Officer (CEO) Douglas Munatsi who died in a house fire on Monday morning.
In a statement, the Chief Secretary to the President and Cabinet, Dr Misheck Sibanda, said the Government will liaise with the family to ensure implement President Mnangagwa’s directive. Pindula News presents Sibanda’s statement:
<blockquote>
His Excellency, the President, Cde Dr E.D Mnangagwa, has directed that the late Douglas Munatsi who passed on earlier in the week be accorded a State-assisted funeral. The Office of the President and Cabinet will liaise with the bereaved Munatsi family to ensure this directive by His Excellency the President is effected.
The Office continues to stand by the bereaved Munatsi family during this very difficult time.
Dr M. J. M. Chief Secretary to the President and Cabinet 
OFFICE OF THE PRESIDENT AND CABINET
</blockquote>
</div>

<ul>
<li><a href="https://news.pindula.co.zw/2021/11/29/zida-ceo-douglas-munatsi-dies-in-house-fire-police-suspect-foul-play/">ZIDA CEO Douglas Munatsi Dies In House Fire, Police Suspect Foul Play</a></li>
<li><a href="https://news.pindula.co.zw/2021/11/29/police-investigating-fire-incident-that-killed-zida-ceo-douglas-munatsi/">Police Investigating Fire Incident ‘That Killed’ ZIDA CEO Douglas Munatsi</a></li>
<li><a href="https://news.pindula.co.zw/2021/11/29/douglas-munatsis-death-flat-owner-speaks-on-fire-incident/">Douglas Munatsi’s Death: Flat Owner Speaks On Fire Incident</a></li>
<li><a href="https://news.pindula.co.zw/2021/11/29/douglas-munatsi-was-one-of-the-few-true-patriots-around-mnangagwa-chinono/">Douglas Munatsi Was One Of The Few True Patriots Around Mnangagwa – Chin’ono</a></li>
<li><a href="https://news.pindula.co.zw/2021/11/29/president-mnangagwa-shocked-as-douglas-munatsi-dies-in-unclear-circumstances/">President Mnangagwa “Shocked” As Douglas Munatsi Dies In “Unclear Circumstances”</a></li>
<li><a href="https://news.pindula.co.zw/2021/11/30/police-memo-on-douglas-munatsis-sudden-death/">Police Memo On Douglas Munatsi’s Sudden Death</a></li>
<li><a href="https://news.pindula.co.zw/2021/12/01/pictures-the-apartment-of-zida-ceo-doug-munatsi-before-after-the-fire/">PICTURES: The Apartment Of ZIDA CEO Doug Munatsi Before &amp; After The Fire</a></li>
</ul>
Meanwhile, the Munatsi family is yet to determine when the former BancABC boss will be buried.
Investigations are ongoing to establish the cause of death.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

President Mnangagwa Accords Douglas Munatsi A State-assisted Funeral

Zimbabwe Investment and Development Agency (ZIDA) chief executive officer, Douglas Munatsi died on Monday morning following a horrible fire at his Northfields apartment in Harare’s Avenues area. 
The fire has been described as suspicious and is being investigated by the police. There are also indications that the business executive’s body shows signs of torture. 
Medical examiners reportedly discovered that Munatsi’s fingernails were pulled out suggesting that he may have been murdered with the fire being set to hide the evidence. Below are some of the pictures of Doug Munatsi’s luxury apartment before and after the fire.
<blockquote>
<img alt="PICS: Doug Munatsi’s Luxury Penthouse Before And After Horrible Fire" decoding="async" src="https://i1.wp.com/cy4ad5.c2.acecdn.net/wp-content/uploads/2021/12/Doug-Munatsi-Apartment-Before-Fire-001.jpeg?resize=600%2C400&amp;ssl=1"/><img alt="PICS: Doug Munatsi’s Luxury Penthouse Before And After Horrible Fire" decoding="async" src="https://i2.wp.com/cy4ad5.c2.acecdn.net/wp-content/uploads/2021/12/Doug-Munatsi-Apartment-Before-Fire-002.jpeg?resize=600%2C404&amp;ssl=1"/><img alt="PICS: Doug Munatsi’s Luxury Penthouse Before And After Horrible Fire" decoding="async" src="https://i2.wp.com/cy4ad5.c2.acecdn.net/wp-content/uploads/2021/12/Doug-Munatsi-Apartment-Before-Fire-003.jpeg?resize=600%2C402&amp;ssl=1"/><img alt="PICS: Doug Munatsi’s Luxury Penthouse Before And After Horrible Fire" decoding="async" src="https://i1.wp.com/cy4ad5.c2.acecdn.net/wp-content/uploads/2021/12/Doug-Munatsi-Apartment-Before-Fire-004.jpeg?resize=600%2C404&amp;ssl=1"/><img alt="PICS: Doug Munatsi’s Luxury Penthouse Before And After Horrible Fire" decoding="async" src="https://i1.wp.com/cy4ad5.c2.acecdn.net/wp-content/uploads/2021/12/Doug-Munatsi-Apartment-After-Fire-001.jpeg?resize=450%2C600&amp;ssl=1"/><img decoding="async" src="https://i0.wp.com/cy4ad5.c2.acecdn.net/wp-content/uploads/2021/12/Doug-Munatsi-Apartment-After-Fire-002.jpeg?resize=450%2C600&amp;ssl=1"/>
</blockquote>
Munatsi was the co-founder of ABC Holdings (now BancABC). At the time of his death, he was the chief executive officer of the Zimbabwe Investment and Development Agency (ZIDA). 
He was appointed to the position by President Emmerson Mnangagwa in 2019. 
More: <a href="https://iharare.com/pics-doug-munatsis-luxury-penthouse-before-and-after-horrible-fire/">iHarare</a>

PICTURES: The Apartment Of ZIDA CEO Doug Munatsi Before & After The Fire

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