Zimbabwe: Allied Timbers Probes Mismanagement

7 January 2015

ALLIED Timber Holdings Limited has started reviewing its operations amid concerns of serious mismanagement, sources familiar with the latest developments have said.In an apparent show of displeasure with the performance of the executive led by chief executive Dr Joseph Kanyekanye, the business review would be done while he is on leave.

The business review comes after a new board led by Mr Emmanuel Fundira discovered that the company had overdue export receipts amounting to $3,5 million. The outstanding amount is in relation to timber exports to Botswana. Sources said Allied Timbers recently started exporting timber to Zambia and the new board fears the same could happen.

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