NetOne sues former CEO

13 Dec 2017

Zimbabwe’s state-owned wireless operator NetOne is suing its former CEO Reward Kangai for USD2 million in losses suffered due to his alleged mismanagement of the company during his four-year tenure. According to a report from The Herald, NetOne contends that failure by Mr Kangai to comply with the provisions of the Procurement Act, Public Finance Management Act, and Sections 298(1) (d) and 308(2) of the Constitution caused financial prejudice to the firm. Mr Kangai was dismissed in September 2016 after a forensic audit uncovered gross corporate misconduct relating to matters such as bonus payments, contracts with resellers and irregular tender awards.

Zimbabwe, NetOne