HARARE - The government of Zimbabwe has revoked the specification of Exiled businessman Gilbert Muponda In a general notice issued by the Home Affairs co-Ministers Kembo Mohadi and Theresa Makone, Muponda has been cleared in terms of the Prevention of Corruption Act.
“It is hereby notified that the joint Ministers of Home Affairs, in terms of section 6 (2) of the Prevention of Corruption Act (Chapter 9:16) have revoked the specification of Mr Gilbert Muponda,” says the general notice that rolled off the government printers Friday.
Muponda has been specified since 2004.
Muponda and his fellow ENG director Nyasha Watyoka were arrested in 2003 after allegations ENG Capital had abused depositors funds.
Muponda’s bank Century/CFX Bank’s assets and its MoneyGram International franchise were grabbed and incorporated into Interfin bank.Muponda’s 309 million shares in Century bank were irregularly converted into CFX Bank then into Interfin Banking Corporation, after a controversial merger which Muponda seeks to have reversed in the High Court through case HC 6244-04 which he filed in Harare.
An excited Muponda told The Zimbabwean ” Glory to God, I am excited of being cleared of any wrong doing by the Government of Zimbabwe.I would like to thank the Government and the various Authorities who made this possible.I am grateful to the many well-wishers and my Face Book friends for their support and encouragement” .Muponda said he looked forward to returning to Zimbabwe and resume business.
Muponda, now running GMRI Capital, is one of successful black entrepreneurs forced to flee Zimbabwe in 2004 after the former Government launched a crackdown that saw prominent bankers and businessmen such as Julius Makoni, Mthuli Ncube, James Mushore, Otto Chekeche, Francis Zimuto of NMB, Intermarket Group founder Nicholas Vingira, Mutumwa Mawere ,John Moxon and James Makamba flee the country.
It appears the Government has had a change of heart and is encouraging the return of all exiled business people.Many of the exiled businessmen have been de-specified and cleared to restart operations in Zimbabwe.Recently Trust Bank, Royal Bank and Barbican have been re-licenced to start operations.
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