WICKNELL, LAWYER CLASH IN PARLY

There was high drama in Parliament when a lawyer for Intratrek told legislators today that controversial businessman, Wicknell Chivayo was no longer a shareholder in the company.

But Chivayo said he owned 50 percent of Intratrek with the other half being owned by Ibrahim Yusuf. Lawyer Bruce Tokwe said Wicknell was only serving as managing director as he had ceded his shareholding in 2014 to Intermillion Investments, which is also owned by Yusuf.

He accused Wicknell of having no regard for good corporate governance. Wicknell appeared before the Parliamentary Committee on Mines and Energy to answer questions on the $202 million Gwanda Solar Project which was awarded to Intratrek Zimbabwe in 2015.

Intratrek lawyers also turned up for the hearing, but Wicknell told the committee that they had come of their own accord.

“In 2014 Mr Chivayo borrowed some money on the understanding that he will cede the rest of his shareholding in Intratrek Zimbabwe, which he did to a company called Intermillion Investments. As things stand now Mr Chivayo is not really a shareholder in Intratrek,” said Tokwe.

Chivayo countered that Yusuf had given him his 50 percent back in 2015. “I am a 50 percent shareholder, I stand by that,” said Wicknell.

Tokwe, however, said that Intratrek is currently probing Wicknell’s work at the company to determine the damage which was done to the company but said shareholders are ready to complete the Gwanda project.

Tokwe said other shareholders did not know how the money paid to Intratrek was used but were happy to fund the project ‘to do whatever needs to be done’ to complete the project.


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