HARARE – Listed hospitality firm Rainbow Tourism Group (RTG) has been allegedly hit by some serious corporate governance issues and concerns after an attempt by a board faction to push for the ouster of certain company executives.
The controversial move, reportedly spearheaded by human resources committee chair Rosa Dube and backed by group chairman Joseph Kanyekanye, was specifically targeted at ex-African Sun senior staffer George Manyumwa, the company’s operations director.
“In my understanding, there was a motion to the effect that people should not be eligible for executive directorship posts if they do not have a Masters in Business Administration (MBA) qualification,” a source said this week.
“Although she (Dube) was the prime mover, she seems to have the backing of others, including Kanyekanye and, I must say, though, that this has caused friction within the board,” they said, adding Dube at one time stormed out of a meeting and threatened to resign.
While company chief executive Tendai Madzivanyika yesterday declined to comment before referring all questions to the RTG chairperson, it was also not immediately clear whether Kanyekanye’s fellow National Social Security Authority (NSSA) representative Dube had officially resigned.
Like the Altim Holdings Limited chief executive, Dube was unreachable for comment this week.
However, insiders expressed dismay at the RTG human resources committee chair’s zeal and energy in pursuing Manyumwa’s lack of “educational credentials” now when she had been involved in his recruitment.
“A number of senior guys and officials in the industry do not have such qualifications as MBA because what’s more important is the relevant experience, and capacity to handle issues in the hospitality sector,” the source added.
Together with Kanyekanye and Shadreck Vera, Dube represents the State-run pensions administrator NSSA on the RTG board, as the institution holds a 27,49 percent stake in the hotel group.
In recent times, the Altim boss has also been fingered in another board-interference tiff at Capital Bank Corporation amid allegations that he had equally abused his position to access a $400 000 loan from the bank.