FUNDIRA IN HOT WATER: NSSA CHAIR CAUGHT IN RTG SCANDAL

Emmanuel Fundira, the chairman of Zimbabwe’s National Social Security Authority (NSSA), is under investigation. Police questioned him about an extortion case tied to Paula January, a former executive at Rainbow Tourism Group (RTG).

Paula January was dismissed from RTG in 2019 after a tragic incident at a hotel she managed. She is now accused of demanding money or her old job back from RTG’s management. If her demands weren’t met, she threatened to have the Zimbabwe Anti-Corruption Commission (Zacc) investigate them. Audios reveal January making these threats. Police say January used inside information from Fundira to push her demands.

Evidence points to Fundira giving January sensitive RTG information. January then used this to threaten RTG’s executives, accusing them of fraud and other crimes. In one audio, January names Fundira and mentions that he provided her with details about RTG executive salaries and bonuses.

NSSA owns most of RTG’s shares. It is selling a large portion to comply with local stock exchange rules. Investigators believe Fundira wanted RTG’s stock price to drop so he and others could buy shares cheaply.

The Zimbabwe Anti-Corruption Commission (Zacc) already investigated RTG. They raided RTG’s offices, alleging fraud and money laundering related to a strategy meeting in Dubai. However, RTG argued that as a public company, it didn’t need government approval for such trips. A court later ruled in RTG’s favor, stopping Zacc’s investigation. Despite this, Zacc returned to dig deeper into payroll records and other issues.

RTG’s board has cleared its executives, saying there was no fraud. They believe Zacc’s actions and January’s threats were part of a larger plan to damage the company and devalue its stock. Market experts think Fundira played a role in this, working with business allies to make RTG shares cheaper.

This isn’t the first time Fundira has been linked to shady dealings. Besides his role at NSSA, he has business interests in tourism. He promised not to get involved in tourism-related activities due to his past connections with African Sun Limited. Still, reports suggest he has continued to meddle in RTG’s affairs, breaking that agreement.

The allegations have put Fundira in a tough spot. His role as NSSA chair, combined with his involvement in this scandal, raises questions about his integrity. Police are still investigating, and Fundira’s position is now uncertain.