The late Zimbabwean millionaire businessman Genius Ginimbi Kadungure is back in the news following an alleged feud between Ginimbi’s family members and a Botswana based business manager who is reportedly refusing to surrender Ginimbi’s lucrative gas assets, sources in the country say.
The court is set to hear an update on the matter in which Darangwa and Kadungure’s family are fighting over his companies with Leo Chiweshe, whom Kadungure had appointed to manage the Botswana assets through a power of attorney.
In her Founding Affidavit in a suit in which she wants Chiweshe to surrender the control of Kadungure’s companies, Darangwa argues the companies require immediate and urgent attention to survive as they are currently operating without direction.
Darangwa was appointed the Administrator of the Estate of Kadungure following his untimely death last November. The deceased’s companies in question are Quick Gasses (Pty) Ltd and Matiflex Oils (Pty) Ltd.
On the other hand, Chiweshe is refusing to meet Kadungure’s family and the Executor to hand over control of the businesses.
Darangwa wants the court to nullify the Power of Attorney given to Chiweshe and declare that his local companies are without Directors following the passing on of Kadungure on November 8, 2020.
She also wants the court to confirm the appointment of Juliet Kadungure and Nomatter Zinyegere as Financial and Operations Directors of the said companies while ordering Chiweshe to give an account of the affairs of the companies.
Furthermore, she wants the Respondent to be interdicted and restrained from interfering with her duties as the Executor in respect of the companies.
Darangwa has argued that Chiweshe has no authority to manage the affairs of the companies as the power of authority under which he was acting has become invalid owing to Kadungure’s passing.
“The Respondent’s conduct is also wrongful for another reason. I am unable to take under care and safe custody the assets of the late Kadungure when I am so required until final distribution of the assets. I am also unable to prepare an inventory of the Estate much to the prejudice of the general body of creditors,” stated Darangwa.
She argued employees of the said companies are agitated about their future and employment. She said the companies, which employ a combined 200 employees are unable to pay salaries without receiving and banking money received from various customers owing to Chiweshe’s instructions to the employees not to deposit money in the bank accounts as they are frozen.
“There is an urgent need to have the companies operating with duly appointed Directors to ensure that the employees continue being employed and creditors are paid,” she added.
She said the companies are already trading under difficult COVID-19 restrictions, which have adversely affected the business and would require immediate attention if they are to survive.
“I must state that I harbor very great fear that the conduct of the Respondents is to collapse the companies and thereafter to take them over now that Genius Kadungure is late,” she added.
Kadungure, who was a serial entrepreneur with businesses in Zimbabwe, South Africa and Botswana, died following a car crash late last year. The accident also killed his three socialite friends who had attended a birthday party with him in an upmarket bar in Harare. It is said that he had drawn up a Will in which he sought to deal with his estate, which unfortunately died before he could execute or sign.
Ginimbi was the owner of Pioneer Gases, a company with offices in Botswana, Zimbabwe and South Africa.
Phakalane mansion in Botswana
Regarding foreign reports that Ginimbi owned a multi-million pula mansion at Phakalane Golf Estate in Botswana, authoritative sources say the mansion belongs to close friend of Ginimbi’s and fellow Zimbabwean businessman, Victor Jireme, who is a Prohibited Immigrant in Botswana but still owns several businesses and properties in the country.