ZC directors ordered off Metbank board

Zimbabwe Cricket president Peter Chingoka and his deputy, Wilson Manase, have been ordered off the board of Metbank to avoid a conflict of interest.

Zimbabwe Cricket deals directly with the bank and owes Metbank $15 million and the Parliamentary Portfolio Committee on Sport felt it not proper for both Chingoka and Manase to sit on both boards, as they had a direct interest in both.

Manase is the chairman of Metbank while Chingoka is a non-executive director. Former Zimbabwe Cricket managing director, Ozias Bvute, is also a non executive director of the same bank.

However, after admitting that they owed the bank $15 million on top of the $3 million they owe various institutions and players, the Parliamentary Portfolio Committee resolved that Chingoka and Manase should get off the board’s bank for transparent transactions to be conducted between Metbank and Zimbabwe Cricket. The duo promised to comply with the resolution.

Of the $18 million they owe, Zimbabwe Cricket has pledged to pay their players the $320,000 in salary areas dating back to October last year.

The sports body said they had secured a $3 million grant from the International Cricket Council, which they hoped to get this week.

The players were on strike, but returned to training last week to prepare for the Twenty 20 World Cup qualifiers, in which Zimbabwe will play the Netherlands and Ireland next month.

Chingoka said their current financial position would improve, following the introduction of the ICC Test Fund, aimed at assisting Test nations with financial problems.

The Test Fund was expected to benefit first South Africa, New Zealand, Pakistan, Sri Lanka, Bangladesh and Zimbabwe.

Chingoka and Manase recently appeared before the Parliamentary Portfolio Committee on Sport on the state of cricket in the country.

Post published in: Sport

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