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Chivayo ordered by National Economic Conduct Inspectorate (NECI)to avail documents he signed with the (ZPC ), to get US$5 million pre-commencement fee for without a bank guarantee
The National Economic Conduct Inspectorate (NECI) has ordered businessman Wicknell Chivayo to avail several documents he signed with the Zimbabwe Power Company (ZPC), resulting in him being paid US$5 million pre-commencement fee for the Gwanda Solar project without a bank guarantee. The $200 million project is yet to take off three years after Chivayo’s Intratrek Zimbabwe was awarded the tender.
ZPC nails minister •’ . . . he pressured us to pay Chivayo $5m’ • Businessman admits failure to raise guarantee
This comes as ZPC managing director Engineer Noah Gwariro was this week suspended for 90 days by the power utility’s board to pave way for investigations into Chivayo’s case. Eng Gwariro has been barred from visiting his offices or ZPC premises during his mandatory leave.
NECI wrote to Mr Chivayo on December 7 requesting to be furnished with several documents that would assist in their investigation. NECI is a Government arm whose mandate is to carry out compliance checks of companies to ensure that the country is not prejudiced through prejudicial transfer pricing, as well as unfair business practices such as externalisation.
“As part of the exercise that NECI is carrying out, may you avail the following documents for inspection – all contracts/agreements entered into with the Zimbabwe Power Company, Intratrek’s bank statements from January 2015 to date, cash books and all other documents pertaining to the Gwanda Solar Project and Munyati Power Station,” NECI wrote to Chivayo.
“An expeditious submission of the above information will be appreciated.” ZPC paid Chivayo without the businessman submitting a bank guarantee to safeguard public funds. Clause 4.2 of the contract specifies the need for a performance bond to protect ZPC against any losses in the event Intratrek Zimbabwe defaulted on the project. The contract further specifies that ZPC will release money only after receiving an advance payment guarantee.
On Tuesday last week, ZPC board chairman Engineer Stanley Kazhanje wrote a letter suspending Eng Gwariro over the Gwanda solar deal.
In his letter, Eng Kazhanje said Eng Gwariro failed to respond to issues put to him before the board that sat on December 8. He said the board meeting had “presented serious concerns regarding the management and in particular the payments made to the contractor, Intratrek Zimbabwe, with respect to the 100MW Gwanda Solar Power Station project”. Felex Share and Tendai Mugabe—Herald