FORMER Tobacco Industry and Marketing Board (TIMB) chief executive officer Meanwell Gudu was on Friday acquitted by a Harare magistrate over criminal abuse of office charges involving more than US$2 million.
Gudu appeared before magistrate Marehwanazvo Gofa alongside Stuart Shanyika, a former head of special services at TIMB, and Andrew Evaristo Matibiri, a retired former TIMB Chief Executive Officer, who were arrested by ZACC in September, 2022.
It was alleged that the Reserve Bank of Zimbabwe (RBZ) introduced a tobacco financing facility to support small-scale tobacco farmers with farming inputs and working capital for the 2017/2018 farming season.
On September 10, 2018 a memorandum of agreement was signed between RBZ as the provider of the funds for the facility, Agribank now AFC Commercial Bank as the agent, and TIMB as the borrower.
TIMB was to procure inputs, provide funds for capital expenditure, and disburse the inputs to small-scale tobacco farmers.
The State alleged that contrary to provisions of the agreement, the accused persons working in connivance entered into private agreements with other tobacco contractors who they hand-picked in a deal corruptly designed to support the firms with inputs from the TIMB loan obtained from Agribank and supported by RBZ.
It was further alleged that the accused persons acted contrary or inconsistent with their duties as public officers by unilaterally assigning or ceding their obligations against the provisions of section 8 of the contract between TIMB, RBZ and Agribank.
The State further alleges that RBZ was prejudiced of US$2 million, and nothing was recovered.
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The matter was, however, withdrawn before plea.
