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Cottco Managing Director arrested on corruption charges

HARARE — Munyaradzi Chikasha, 46, the Acting Managing Director of the Cotton Company of Zimbabwe Limited (Cottco), has been arrested on charges of corruption and money laundering.

Chikasha is accused of secretly leveraging his position to contract his own trucks for transporting Cottco goods, thereby concealing a conflict of interest and profiting from the transactions without disclosure to his employer. The scheme, allegedly initiated in 2021 while Chikasha served as Business Manager at Cottco’s Chiredzi depot, involved purchasing trucks registered under his nephew’s name and directing payments to a bank account controlled by his nephew.

The prosecution claims that Chikasha ensured his trucks were assigned to well-maintained routes and received prompt payment for their services, while other transporters were left unpaid. Further allegations of money laundering have been brought against Chikasha, asserting that he used the proceeds from these transactions to purchase additional trucks and fund the construction of his house.

Following his arrest by the Zimbabwe Anti-Corruption Commission, Chikasha was granted bail set at USD 100. He has been ordered not to interfere with witnesses, to surrender his passport, and to report weekly to the police. His next court appearance is scheduled for June 12, 2024.