Nssa boss in $300mln externalisation storm

HARARE - National Social Security Authority (Nssa) acting general manager Hashmon Matemera appeared in court yesterday on allegations of conniving with Chinese nationals to externalise over $300 million.

Matemera, 52, who is a former BancABC managing director, appeared before Harare provincial magistrate Vakayi Chikwekwe charged with contravening the Exchange and Control Act.

He was released on $10 000 bail and ordered to surrender $250 000 as surety.

As part of his bail conditions, Matemera will report three times a week at CID Frauds, surrender his passport and continue residing at number 6 Boundary Road Newlands in Harare.

His lawyer advocate Thabani Mpofu tried to negotiate for a variation of the quantum of bail his client was supposed to deposit arguing that he could face difficulties owing to the prevailing cash crunch but the presiding magistrate dismissed the request.

Mpofu also notified the court of his intensions to apply for further remand refusal on the next trial date.

Prosecutor Sabastian Mutizirwa alleged that on November 23, 2011 Jinan Mining (Pvt) Ltd was formed through a joint venture agreement between Marange Resources (Pvt) Ltd, a subsidiary company of Zimbabwe Mining Development Company, and Anhui Foreign Economic Construction Company (AFECC) on equal shareholding basis.

Marange Resources was supposed to provide diamond mineral claims to the joint venture while AFECC funded mining operations from inception to full-scale mining.

The court heard that on January 9, 2012, Jinan Mining opened a BancABC transitory account at Mt Pleasant branch before $628 792 555,02 was deposited by AFECC as investment funds.

However, according to State papers the transitory account was unprocedurally opened as it was non-compliant with prerequisite processes.

Matemera reportedly facilitated opening of the said account and connived with Bai Xiangqian, Qingde Jiang, Bei Bei Ma who are still at large and transferred $332 980 000 from the account into a BancABC Botswana account for purported investment in that country.

The court heard that extraterritorial investigations were instituted and established that the $332 980 000 transferred to Botswana was never used in that country.

It was further established that varied amounts of the money were moved to China, Mozambique, Democratic Republic of Congo, Zambia, Sierra Leone and Dubai.

Further evidence revealed that Jinan Mining is not registered in Botswana and has no operations in that country.

The Botswana Bank account was opened using Zimbabwean company documents and transfers were administered from BancABC Mt Pleasant branch.

The total amount externalised was $332 980 000 and $11 727 272 was transferred back into the country.

Comments (8)

.............connived with bai xianqian, qingde jiangi and bei bei ma still at large. Sounds more like looking for ghosts. 300m vanishing and we have bond notes backed by 200m credit line from an Egyptian financial institution. Our country have enough for everyone ,just few greedy looters taking everything for themselves. With the present system this guy will get away with this crime, yet we have people languishing in prisons for snake skins and dead pangolins.

X-MAN IV - 11 May 2016

kkkkkkkkkkkk-kwa- Bei Bei Ma! yeah unokwara chete wakomana wachitora mari hawo!

SaManyika Chaiye - 11 May 2016

Such stories only worsens the stress on honest Zimbabwean citizens who see themselves as required to toe the line when it comes to law but watch there country pillaged helplessly. We have had enough of these stories - I say enough because in the end none of the perpetrators are brought to book. Regai vadye vakorise. Vakazviwanira zvitototo, zvipashumaranga maZimbabweans.

Masamba Akareyo - Tanganda - 11 May 2016

how can the government fail to notice financial activity of such an amount...incompetence ma warvet arimuma office

peth - 11 May 2016

This is a shame on us black people.3 Chinese thieves land in Zim ,wth nothing,fly out with a half a billion dollars,from stupid black africans.The blacks were made to work ,shirtless,sweating,n never got paid a coin.The Chinese just bribed the stupid nigger into sending the money out.only in Africa,Zimbabwe.that mine has not paid workers ,a mere $100 000, out of all that loot.We are surely Ham s children.Black stupid Africans.in china yu face firing squad.here in Zim ,bail,go home.

viola gwena - 12 May 2016

If its the love of white skin that leads us to give mining rights to thieves,let this be a lessen.Next time bring in our own whites here ,billy ruitenbatch,nick van,ken sharp.It will be better bcoz these fellows are locals and white,since its an issue on mining rites.these fellows have undertaken projects n succeeded here.we not even supporting Bio fuel,killing it bt suporting thieves from china to loot money here,.Cry Africa.

viola gwena - 12 May 2016

All weather friends

Qu shu mpeng - 12 May 2016

Such is the nature of Zimbabweans from politicians to executives. All helping to suppress the common man. Dont think oppositions will change this unless we get this Tanzanian president to rule this country for a while. Honestly how does one sacrifice the nation like this. Obvious the cash returned ndipo pane cut yacho. Economy ichikuvara common man suffering, politicians and executives vachiguta. Every executive in parastatals has a political link waanodya naye no wonder why after Mujuru was expelled, heads seem to be rolling in parastatals and corruption exposed some dating as back as 2009. Maimbovepi? Bz the umbrella is gone and they are exposed so they face the music but vari kupinda vacho vanewo shield yavo within the political circles and are untouchable until the umbrella is gone. Parastatals are the engine of the economy but thats were political corruption is converted into cash.

Mathew - 12 May 2016

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.