…as ZIMRA appoints ZCDC ex-boss Mpofu Acting Commissioner General

By ETimes

Former Zimbabwe Consolidated Diamond Mining Company chief executive officer Dr Moris Mpofu has been appointed acting Zimbabwe Revenue Authority Commissioner General (ACG) effective the beginning of this month. 

This follows the early retirement of Rameck Masaire who was the ACG of ZIMRA. According to the taxman, the retirement is with effect from 1 February 2022.

In January 2020, ZCDC ex-boss Mpofu has had charges against him withdrawn after the state failed to gather evidence that warrants his prosecution. He was facing criminal abuse of office charges after he allegedly allowed an ex-convict diamond dealer Robal Hussein to trade in the precious mineral with the Minerals Marketing Corporation of Zimbabwe.

“In the same breath, on behalf of the Board, I announce the appointment of Board Member, Dr. Moris Mpofu as Acting Commissioner General with effect from 1 January 2022 until 30 April 2022 with the hope that within that period the recruitment process for the substantive Commissioner General would have been finalised,” ZIMRA said in a statement.

Mpofu’s appointment is in terms of section 17 (4) (b) of the Public Entities Corporate Governance Act [Chapter 10:31], according to the taxman.

Meanwhile, the stock market back in the red as the mainstream All Share Index fell 1.38% which was powerful enough to cancel the gains recorded at the session before. Today’s performance comes at a time when there is a spike in armed robberies. Business and individuals who deal in foreign currency are currently at risk of being targeted during both break-in and robbery incidents.

Heavyweight losses saw the All Share Index falling by 1.38% to 10.845.57 points. In the same vein, the Top 10 Index suffered the most as it succumbed 1.81% to 6.807.08 points.

Fintech giant Cassava was down 7.28% to ZWL$43.50. Banking counter CBZ shed 6.69% to ZWL$74.94.

Simbisa was on the top advancers table with a 4.75% gain to ZWL$94.87.

Topping the losers set was FMP which plunged 8.5% to ZWL$6.72. Willdale followed, slumping 6.11% to ZWL$3.38%. RTG eased 5.28% to ZWL$7.29 and completed the top five losers table.

Resultantly, the Medium Cap Index lost 0.46% to 20,596.16 points.

Bucking the trend, NMB pulled 16.97% to ZWL$10.99 while FML was 5% higher to ZWL$21.00. Starafrica added 4.05% to ZWL$1.21.

The Small Cap Index was the only gainer after securing 2.86% gain to settle at 408,128.86 points. Turnall led the risers gaining 18.15% to ZWL$4.13. 

Turnover improved to ZWL$127.32 million in 509 trades. Market cap stood at ZWL$1.31 trillion – HARARE

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