Palapye.com News Blog

source: SW Radio Africa
By Tererai Karimakwenda
May 14, 2008

The governor of Zimbabwe’s Reserve Bank, Gideon Gono, has been showing his true colours recently. Just weeks after it was reported that Gono sits on the board of the Joint Operations Command (JOC) that is running the country and sponsoring the violence, it has been reported that he seized shares worth about Z$6.5 quadrillion, that were held on the stock market by the government-owned POSB bank.

According to the ZimOnline news site, Gono took the shares last Friday after threatening to fire POSB chief executive Admore Kandlela if he resisted the takeover. The report said Kandlela had earlier warned Gono that the POSB would collapse if he took the shares. After writing about the attempt to the Ministry of Finance, he was advised not to release the shares and this allegedly made the RBZ chief furious. Kandlela and POSB chairman Tim Chiganze were summoned to Gono’s office last Thursday.

ZimOnline say that in this meeting Gono threatened Kandlela and [continue reading]