Zinara boss under probe over $300k CBZ loan

THE Zimbabwe National Road Administration (Zinara) is instituting investigations against chief executive officer, Nancy Masiyiwa, who is alleged to have corruptly obtained a $300 000 CBZ Bank mortgage bond using the government institution’s authority.

The letter authorising Masiyiwa to access a personal loan from the financial institution, is alleged to have been authored by Zinara board chairperson, Albert Mugabe, but has since been revoked after it emerged the road authority had nothing to do with the said loan.

This was revealed at the High Court on Tuesday this week during the trial of five Zinara top executives, who are facing allegations of criminal abuse of office involving $2 940 588, which they sourced on the parallel market through Caudless (Pvt) Ltd and Grayriver (Pvt) Ltd.

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