To the powers that be, herewith the ongoings at Empower bank brought forward at the recently held ZANU PF Youth League Assembly.
1: Corruption
2: Embezzlement
3: Nepotism
4: Malpractice
Empower Bank is a Public Entity or Government Financial Institution with a mandate to disburse loans to the marginalized youth and support other business sectors of the economy.
Research reveals that Empower Bank was born out of a corrupt license sale deal to Government by Twinstock Capital, a shelf company originally owned by Raymond Njanike through his very close ally, former G 40 Youth Minister Patrick Zhuwao.
Before the sell transaction Twinstock Capital Directors were Raymond Njanike,Shadreck Mhembere and Vencia Manhando as its accountant.
The banks formation was a Youth driven agenda who pushed to have their own bank to access non collateral based loans. This bank has since been hijacked by its board and top management resulting in just a handful of youths accessing loans with the bulk of the funds being dished out to themselves and their G 40 cronies at the detriment of its core business.
**EB Board members and board chairman (G 40 CABAL)
**EB Top Management (G 40 agents)
**EB has had an incompetent acting CEO for a year and is micro managed daily by the board chairman.
**Tenders are wantonly awarded to companies belonging to board members and top management by an EB committee in direct violation of PRAZ Tender procedures and guidelines as required at LAW.
**The Youth FUND at some stage was abused to carry out an unjustified and expensive psychometric evaluation exercise for all managerial staff a year after signing their contracts and this was deliberately overlooked during interviews for ulterior motives, thus to benefit the corrupt individuals through kickbacks and denying a fair opportunity to the rest of other shortlisted candidates.
**Substantial amounts of public funds are currently being syphoned and abused unproductively creating huge budgetary constraints and a negative financial status due to GROSS financial mismanagement. Good example, is a first ANNIVERSARY PARTY authorised by the finance director held in August 2019 at number 60 West Road costing the bank several thousands of dollars of public funds.
**The bank recorded huge losses in the just ended financial year but board members and top management are focused on their extravagance by milking the Youth Fund.
**Loans are selectively approved to persons and companies fronting board members and top management who get top priority.
**Expensive lunches are ordered for all management committee meetings that do not yield any positive results.
BELOW ARE SOME OF THE COMPANIES THAT WERE CORRUPTLY AWARDED TENDERS
1: BRAND DIGITAL- supplied desktop computers to EB and is still supplying computer consumables to this day. Owner-Shadreck Mhembere-HOD treasury and current acting EB CEO.
2: SAMANACHI-Branding company, owner is board chairman’s close associate.
3: MBB-Job Evaluations company-owner has close ties with EB head of finance.
**It is not clear who is pocketing rentals from Empower Bank and Puma Energy at block 4 Tendeseka park for the generator owned by Interfin.
**Safes previously owned by Interfin Bank were all sold to Empower bank by the board chairman, for one of the reasons he orchestrated a ploy to have EB at these premises.
**It is neither here nor there if the board chairman saught the Ministry’s approval and ratification for the purchase of a laptop and printer in his possession using EB funds.
**Did the board chairman seek the Ministry’s approval for board fees that all board members receive every month from Empower bank?
** Are the board members paying income tax earned from board fees and regular sittings?
The individuals below were employed at EB through a directive from the board chairman
#1-Munyaradzi Mutanga ‘HOD Risk’ (ex-Interfin Bank)
#2-Shadreck Mhembere ‘HOD Treasury’ (ex-Interfin Bank)
#3-Benjamin Mashonganyika ‘HOD IT’ (ex-Interfin Bank)
#4-Martin ‘IT specialist’ (ex-Interfin)
#5-Leona Kawadza ‘corporate secretary’ (Njanike’s relative)
#6-Vencia Manhando ‘Accountant’ (Raymond Njanikes longtime girlfriend)
#7-Patience Shuro ‘Finance Director’ (Njanike’s relative)
#8-Christina Muchekedza ‘Head Marketing'(Njanike’s relative)
#9-Lenin Mabika ‘payments clerk’ (Njanike’s relative)
#10-Tsitsi Chingoka ‘marketing officer (HOD IT-B Mashonganyika’s relative)
#11-Ebony Chipfumbu ‘branch manager’ (HOD IT-B Mashonganyika’s relative)
#12-Praise Muchenje ‘IT'(Head IT-B Mashonganyika’s relative)
#13-Onias Ushe ‘Finance manager'(Patience Shuro’s former subordinate at POSB)
HR HOD, collaborated in hiring these individuals for all the top posts and strategic positions.
GOOGLE Patience Shuro (POSB FRAUD CASE) This individual syphoned millions of depositors funds from POSB coffers.
GOOGLE Raymond Njanike (INTERFIN BANK CASE) This individual milked millions of depositors funds at Interfin bank during his tenure as its boss.
There is solid proof that these corrupt individuals have embezzled depositors funds before and both are still at crossroads with the Law. Why are they handling Public Funds at a time when the President is on record calling for an end to CORRUPTION?
An independent auditor would be recommended to unearth more corruption and abuse of public funds by these thugs.
CONCERNED YOUTHS