KWEKWE Central MP Masango Matambanadzo has clashed with management at Kwekwe Consolidated Gold Mines (Pvt) Ltd (KCGM) after he demanded that they disclose gold production records and returns to him. BLESSED MHLANGA STAFF REPORTER
In a letter dated November 25 written using a Parliament of Zimbabwe letterhead, Matambanadzo demanded that the private company disclose its shareholding structure, the number of mines it operates and its future plans.
“I write to you in my capacity as MP of Kwekwe . . . in pursuance of the indigenisation empowerment policy, I would require you to furnish me with the following; the real owner of KCGM, number of tributes which were given out and those not, production records of the tributes and disposal of the Gold to Fidelity Printers (receipts).
“I also require to know your future plans about operations at the mine and the number of your part-time and permanent staff. I require this information as a matter of urgency before November 27,” part of the letter reads.
Management at KCGM through their lawyers Mutatu and Partners would have none of it and referred Matambanadzo to the Mines ministry.
“Before we address on specific issues raised therein, there is no legal framework in Zimbabwe for you to poke into the affairs of a private limited company simply because you are an elected MP for Kwekwe Central constituency,” the company’s lawyers replied in a letter referenced VM/22/EC.
KCGM told Matambanadzo to visit the office of the registrar of companies if he was interested in knowing the ownership structure of KCGM and further to go to the Youth Indeginisation and Economic Empowermentministry if he wanted the company plan on the programme.
“When you say real owners, are you referring to the shareholders? If so, then that information is easily accessible from the Register of Companies. Our operations are guided by the Companies Act (Chapter 24:03). There is nowhere in the Act were returns or reports are made to an MP.
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“Kindly take note that our client submitted its indigenisation compliance plan to the relevant ministry and therefore cannot submit anything to you,” the lawyers wrote in response.
