AAG wants RBZ to reinstate ENG licence

ENG Capital Group after it paid all its debts.
The company, which held an investment company and an asset management firm, wound up operations in 2004 after its directors, Gilbert Muponda and Nyasha Watyoka applied to liquidate the two operations.
In a statement last Friday, the black empowerment group said the company had committed to fund youth empowerment projects as soon as it resumed operations.
“The National Executive Committee, the supreme decision making body of the AAG is currently seized with matters relating to the ENG Capital and its subsidiary companies.
“To date we have ascertained that ENG, through liquidation, has fully amortised all its financial debts.
“This has been confirmed by the liquidator, Mr Reggie Saruchera, Managing Partner of Grant Thornton Camelsa in a communication to AAG,” AAG secretary general Mr Tafadzwa Musarara said in a statement.
“It is our hope that, if all outstanding issues have been settled, the bank must be allowed to resume operations.
“ENG has committed to AAG that they would want to – as soon as they get all requisite authorisations, set up a Youth Empowerment Fund that will help to kick start the business of many young indigenous men and women,” he said.
Mr Musarara thanked the decision to de-specify several black business people and re-issuance of banking licences to a number of entities.
The AAG secretary general urged Zimbabweans in the Diaspora to return home and take part in the turn around of the economy.
Muponda and Watyoka were arrested on fraud related charges to ENG debts and later freed on bail.
However, Muponda skipped bail and went to Canada.