Cottco bosses back at work as fraud court case continues

Some senior executives at Cottco, including the acting chief executive, have resumed their duties following a relaxation of their bail conditions.

Acting chief executive, Munyaradzi Chikasha and Chiredzi business manager Innocent Gokwe, who are both facing fraud charges, returned to work after the court removed the restriction prohibiting them from doing so.

Cottco chairman, Mr Sifelani Jabangwe, confirmed this publication.

Chikasha and Gokwe were initially suspended in May of this year.

“Their original bail conditions prevented them from reporting to work, but after review, we decided to allow them to return because it seemed unfair to keep them out of their jobs unless they were proven guilty,” said Jabangwe.

Jabangwe, however, said individuals facing clear-cut theft charges would remain suspended until all legal proceedings were finalised.

Cottco had been embroiled in a significant management shake-up over the past year, with several senior executives dismissed amid allegations of input abuse, fuel diversion and even the theft of ginned seed and cotton lint.

Cottco is a major player in the cotton industry in Zimbabwe. It’s the largest cotton producing company in the country, holding an 85 percent market share.

Cottco acts as the administrator for the Presidential Free Inputs Scheme, which distributes inputs including fertilisers to targeted farmers.

The scheme, launched in 2014, aimed to rescue the Zimbabwe’s cotton industry from collapse after production had plummeted from a peak of 351 000 tonnes just two seasons prior to a mere 28 000 tonnes.

Despite occasional dips in dry years, the subsequent seasons saw a substantial recovery, pushing output past 160 000 tonnes.

Crucially, the State-assisted cotton scheme ensured cotton remained a key agricultural export, generating foreign income and creating thousands of jobs. This provided a vital lifeline for hundreds of thousands of households in marginalised areas.-esbisnessweel