Online Reporter
. . . Two executive members quit their posts
. . . Three have now quit in the past month
Curtworth Masango
Zimpapers Sports Hub
DYNAMOS secretary-general Divine Sena and CEO Desmond Bvute have resigned as the Glamour Boys conduct a sweeping review of their financial and governance systems.
The club have engaged AMG Global Chartered Accountants, who are conducting a comprehensive review of the club’s financial management systems, governance structures, policies and internal controls. The club’s Head of Administration and Finance, Taurayi Tugwete, resigned on August 3.
“I’m writing this letter formally resigning from my position as Head of Administration and Finance at Dynamos Football Club effective immediately,” he wrote.
“I want to express my sincere gratitude for the opportunity to serve in this role during the past four months.
“It has been a rewarding experience and I’m proud to have led the Secretariat team as best as I could.
“I’m hopeful that my contributions have helped advance the executive’s vision of running the club in a more professional manner.”
Executive chairman VincentChawonza remains in his position.
Documents in our possession show that Dynamos appointed AMG Global Chartered Accountants as independent financial consultants “to conduct a comprehensive review of the club’s financial management systems, governance structures, policies, procedures and internal controls.”
The club say the six-month exercise, which started on August 1, is aimed at strengthening financial accountability, improving operational efficiency and safeguarding the club’s assets.
Of particular interest is the mandate given to the consultants to identify weaknesses, financial leakages, operational inefficiencies and fraud risks that could expose Dynamos to financial losses.
AMG Global Chartered Accountants were also tasked with examining the club’s revenue streams, including match-day takings, sponsorship, merchandising, subscriptions, donations and player-transfer income.
Procurement, expenditure, payroll, banking procedures, asset management and inventory controls also fall under the review.
The consultants are expected to report their findings and recommendations to Chawonza, the board, the club’s sponsor or another committee designated by the board.
The financial scrutiny forms part of a broader restructuring exercise initiated by the club.
On July 24, Dynamos appointed Global Tech Investments, led by managing consultant Kennedy Chikuhwa, to interrogate the club’s structures and systems and recommend reforms.
The consultants were tasked with recommending suitable administrative structures, helping make them functional, establishing sub-committees and assisting with the urgent appointment of an interim financial adviser.
In the appointment letter, the Dynamos leadership said they wanted to create a system that will ensure that the country’s most successful club is run professionally, with functional structures and systems as well as full accountability to their stakeholders.
Dynamos have already suffered a string of executive members departures this year.
