HARARE – National Social Security Authority (Nssa) acting general manager Hashmon Matemera appeared in court yesterday on allegations of conniving with Chinese nationals to externalise over $300 million.
Matemera, 52, who is a former BancABC managing director, appeared before Harare provincial magistrate Vakayi Chikwekwe charged with contravening the Exchange and Control Act.
He was released on $10 000 bail and ordered to surrender $250 000 as surety.
As part of his bail conditions, Matemera will report three times a week at CID Frauds, surrender his passport and continue residing at number 6 Boundary Road Newlands in Harare.
His lawyer advocate Thabani Mpofu tried to negotiate for a variation of the quantum of bail his client was supposed to deposit arguing that he could face difficulties owing to the prevailing cash crunch but the presiding magistrate dismissed the request.
Mpofu also notified the court of his intensions to apply for further remand refusal on the next trial date.
Prosecutor Sabastian Mutizirwa alleged that on November 23, 2011 Jinan Mining (Pvt) Ltd was formed through a joint venture agreement between Marange Resources (Pvt) Ltd, a subsidiary company of Zimbabwe Mining Development Company, and Anhui Foreign Economic Construction Company (AFECC) on equal shareholding basis.
Marange Resources was supposed to provide diamond mineral claims to the joint venture while AFECC funded mining operations from inception to full-scale mining.
The court heard that on January 9, 2012, Jinan Mining opened a BancABC transitory account at Mt Pleasant branch before $628 792 555,02 was deposited by AFECC as investment funds.
However, according to State papers the transitory account was unprocedurally opened as it was non-compliant with prerequisite processes.
Matemera reportedly facilitated opening of the said account and connived with Bai Xiangqian, Qingde Jiang, Bei Bei Ma who are still at large and transferred $332 980 000 from the account into a BancABC Botswana account for purported investment in that country.
The court heard that extraterritorial investigations were instituted and established that the $332 980 000 transferred to Botswana was never used in that country.
It was further established that varied amounts of the money were moved to China, Mozambique, Democratic Republic of Congo, Zambia, Sierra Leone and Dubai.
Further evidence revealed that Jinan Mining is not registered in Botswana and has no operations in that country.
The Botswana Bank account was opened using Zimbabwean company documents and transfers were administered from BancABC Mt Pleasant branch.
The total amount externalised was $332 980 000 and $11 727 272 was transferred back into the country.