Andrew
Minister Zhemu Soda
Online Reporter
ENERGY and Power Development Minister Zhemu Soda has suspended the entire board of directors for Petrotrade, pending investigations into matters of corporate governance.
In a press statement on Thursday, the Minister said he will be appointing a team to look into the matter.
“While the board of directors for Petrotrade was appointed in terms of Section 11 of the Public Entities Corporate Governance Act, with the concurrence of His Excellency the President of the Republic of Zimbabwe, I have today, March 9, 2022 suspended the entire board,” reads part of the communique.
The Petrotrade board was appointed last year in June after a five-year period of operating without one.
Online Reporter