ZESA Holdings board has decided not to extend its Chief Executive Officer Mr Josh Chifamba’s second term contract following his suspension and subsequent arrest last year due to allegations of corruption and criminal abuse of office.
Engineer Chifamba’s contract expired sometime last year, having been extended by four years after earlier serving for three years as ZESA CEO.
Official sources close to the developments say his contract will not be extended.-
It has also emerged that the ZESA board took the decision not to renew Chifamba’s contract on December 13, 2018.
The sources revealed to the ZBC News that regulatory authorities were now finalising the proceedings relating to the termination of his contract.
Engineer Chifamba was arrested in October last year in connection with the criminal abuse of office in the awarding of a contract involving ZESA’s unit Zent and Indian firm, PME, for the supply of transformers and other equipment worth $35 million.
The government is instituting parastatal reforms that are expected to instil corporate governance structures in key parastatals in line with measures to restore viability.