Victoria Foods boss suspended?

forensic audit now underway at the struggling company.
Victoria Foods is a subsidiary of agro-based group CFI Holdings.

Sources close to the troubled company say the suspension is related to “mudslinging” that has engulfed the group ahead of a crucial annual general meeting.
While Mr Nyahora could not be reached for comment yesterday, CFI group chief executive Mr Steve Kuipa denied the suspension claims.
Mr Kuipa said Mr Nyahora was asked to go on paid leave for “almost two weeks”, until the forensic audit of the company has been concluded.
“No, he was not suspended,” he said. “He is on paid leave because there is a forensic audit close to completion.

“It is standard practice that when there is an audit, a manager of that company should go on leave to allow auditors unfettered access (to company information).                 So he will be on paid leave until the audit is con-cluded.”
Victoria Foods has been performing dismally, prompting officials to seek partners to help retool the company.

The company recently placed an advert in the Press inviting potential partners.
“Victoria Foods is not doing well at the moment; that is why we have a recapitalisation process going on,” said Mr Kuipa.
“Unfortunately, I can’t tell you the names and number of companies that have approached us with a view to partnering Victoria Foods because the issue is sub-judice.
“However, I have to restate that Victoria Foods         requires a partner and we must find the money to recapitalise.”

Meanwhile, Mr Kuipa said he suspected that some allegations levelled against him and the group accountant, Mr Taurai Shava, were “malicious” and designed to tarnish his image ahead of the AGM.
Some officials have been circulating letters suggesting that Mr Kuipa and Mr Shava have been awarding contracts to their “cronies”.

Of particular interest was the contract to buy company vehicles, thought to have been done by a “company owned by Mr Shava”.
But documents in our possession show that the transaction was done above board, as the cars were purchased directly from a Japanese company — Khalid Trading Company — and the money was transferred into the company’s bank account.

“I really don’t know where these allegations are coming from,” said Mr Kuipa. “Indeed, I have the suspicion that there is something at play here.
“It appears the claims are meant to embarrass someone especially ahead of the AGM.”