Former Air Zimbabwe bosses jailed for seven years


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Former Air Zimbabwe Chief executive Peter Chikumba and former company secretary Grace Pfumbidzayi were today sentenced to an effective seven years in jail , each, for their part in an about US$10 million insurance scam that fleeced the struggling national airline. They were sentenced to 10 years in jail, each, but three years was suspended. Chikumba (60) and Pfumbidzayi (50) were convicted of breaking all company procedures by suddenly appointing Navistar Insurance Brokers as company insurer in 2009 without going to tender.  Previously Air Zimbabwe was insured by Marsh Insurance Brokers. After the shift Air Zimbabwe started paying out $317 000 per quarter, instead of $132 000 per annum.

 

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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