Muponda wants to return

Muponda wants to return
By Fanuel Kangondo
FORMER ENG Capital managing director Gilbert Muponda has appealed to Justice and Legal Affairs Minister Patrick Chinamasa for despecification to enable him to return home and revive operations of his companies.

Muponda has also forwarded the same request to co-Ministers of Home Affairs Kembo Mohadi and Theresa Makone, who are understood to be considering the case. The businessman has also courted Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere as well as the Affirmative Action Group.

Through his lawyer, Mr Benjamin Chikowero of Gutu
and Chikowero, Muponda is seeking to have charges against him dropped and allowed to return home to pursue his business interests. The letter was copied to the Attorney-General Mr Johannes Tomana, Reserve Bank of Zimbabwe Governor Dr Gideon Gono and the head of the Criminal Investigations Department Serious Fraud Section.

Mr Chikowero pointed out that the main reason for Muponda’s specification related to the business affairs of ENG Capital (Pvt) Ltd, which had been closed down after allegations of financial irregularities had been levelled against it by the RBZ. Muponda and his co-director, Nyasha Watyoka, were arrested and held for a long time in remand prison and thereafter appeared before the courts facing various criminal allegations including fraud.

Muponda subsequently fled the country in 2004 before the finalisation of his case as he was convinced that he was being unfairly treated. He is now based in Canada, where he has established himself as an investment banker and founded GMRI Capital, an investment company.

Based on the acquittal of his partner Watyoka and the settlement of all dues after liquidation of ENG, Muponda believes there are no grounds for his continued specification. Justice Lavender Makoni granted a High Court order dated July 15 2010 confirming that ENG Capital had paid all debts due. It was also ordered that all the assets that were excess to the claims made under the liquidation of the company be returned to the owners.

This included four vehicles — a Mitsubishi RVR, Mercedes-Benz C320, Mercedes-Benz C180 and a BMW Z3 — that were being held by the police.

Part of the letter to Minister Chinamasa reads: "We understand that criminal charges against our client’s co-accused, Mr Nyasha Watyoka, have since been withdrawn for lack of evidence. In addition, ENG Capital (Pvt) Ltd has since been cleared of any financial impropriety by the relevant authorities, including the Reserve Bank of Zimbabwe. Indeed, all creditors’ claims against ENG Capital (Pvt) Ltd have been met and some assets have since been returned to ENG Capital (Pvt) Ltd by the liquidator, Mr Reggie Saruchera.

"Our client would now like to come back to Zimbabwe and revive the business operations of ENG Capital (Pvt) Ltd. The biggest problem that he is facing is the fact that to date, he remains a specified person and, thus, it would be practically impossible for him to resuscitate the business operation of ENG Capital (Pvt) Ltd unless and until he is despecified.

"We have since entered into communication with Chief Superintendent Magwenzi, the investigating officer in our client’s criminal case. Our client is prepared to return to Zimbabwe and to formally clear his name before the criminal courts basically because he never committed any criminal offence(s) in the first place."

Efforts to get a comment from Ministers Chinamasa, Mohadi, Makone, Kasukuwere and Attorney-General Mr Tomana were unsuccessful.