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Joseph Madzimure-Senior Reporter
THE Zimbabwe Ex-Combatants (Zexcom) Foundation Fund Limited has appointed Cde Crispen Mashayamombe as its board chairperson with immediate effect.
He was appointed during an annual general meeting held at Mkoba Teacher’s College in Gweru last week.
His appointment comes after Zexcom Foundation Fund Limited was given the nod to hold the AGM following a Bulawayo High Court order last month.
Speaking soon after his appointment, Cde Mashayamombe said he is committed to serve the interests of war veterans and ensure some of their properties are accounted for.
“I am ready to ensure that Zexcom operates professionally and serves the interests of its members. I need to ensure the investments of the war veterans are protected and benefit their children,” said Cde Mashayamombe.
In 1998, nearly 4 000 ex-combatants pooled their resources together, each depositing their contributions through the then Kingdom Bank to form the company, which by 2001 was valued at $15 million.
Zexcom had invested in various sectors of the economy to enhance the future earnings of war veterans’ and their dependants.
The investments were in the form of properties and included shareholding in various local companies such as Delta, Telecel and Kingdom Bank. However, disputes at Zexcom board level arose, resulting in the company being placed under judicial management in 2001.
Zexcom was removed from provisional liquidation on June 19, 2019.
It has a registered membership of 3 496.
Online Reporter