Former ZESA boss demands $10m

Former ZESA boss demands $10m
Sydney Gata

Sydney Gata

By Alois Vinga

FORMER ZESA Holdings executive chairman, Sydney Gata, has approached the Ministry of Labour and Social Welfare seeking an additional retrenchment package of $10 million.
Gata is requesting a recalculation of his exit package because his initial severance payments were eroded by ZESA’s lack of salary records, hyperinflation and continuous adjustments of exchange rates during the period in question.
He is also citing the absence of board resolutions confirming terms and conditions of his retrenchment as well as an undocumented part payment by ZESA over the disputed period.
Details contained in submissions made through his legal representatives, Sinyoro and Partners, indicate that Gata received ZW$18 313 477 606 on December 18, 2007 and ZW$59 615 494 451 934 on May 30, 2008 as part of his severance package.
Despite the earlier payments, he was given a further US$292 723 between 2015 and 2016 over and above two Mercedes Benz vehicles, one utility vehicle and a house in Umwinsdale.
Gata is now arguing that he was short-changed and needs his exit package reviewed.
“ZESA’s policy on the sale of company houses to executive staff, who are entitled, is to charge 75 percent of market value. I paid ZW$500 billion against a market valuation of ZW$480 billion. In terms of benchmarking, the discount of 99,992 percent extended to senior executive management should also be applied in my case,” he said.
He also lodged an outstanding insurance claim of fire accident amounting to $157 000.
The total claim of $10 395 656,42 has two interest  percentage rates on delayed payments; a five percent fixed rate per annum on payments deriving from severance packages since July 2007 and 10 percent per annum for current market rate of interest on all commercial debts.
He alleges that he served as chairman of ZESA Holdings from July 1, 2006 to June 12, 2006 before being forced to leave office through forced retrenchment.
“I was denied a contract of employment, by construction, due to salary offers well below my subordinate and also lower than my predecessor and former ZESA chief executive officer, Mr (Simbarashe) Mangwengwende and even lower than that of (an 11th grade supervisor under) the 2006 salary structure,” he said.
He noted that there was no board resolution confirming the retrenchment as well as the salary conditions and the package offered in May 2006 was below the standard. He noted that the package was not implemented leading to protracted engagements, with litigation until a new agreement was reached on January 25, 2016 to settle the package in full and in sthe originally prescribed manner.
“Ad hoc and incomplete and undocumented payments were made in February 2016, but these were stopped. I was advised then of a new board resolution to declare a dispute before the Labour Ministry,” reads the submissions in part.
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  • s shumba

    He is mad. Paid for what – being Chairman of the Board. Madness
    All that he was given must be recovered immediately, he is one of the thieves that the new establishment must deal with. A house, 2 benzes, USD260,000, ZWD……. – he must be arrested

    • gutter poet

      Apa wapenga!

  • Farai

    Gata you are penga and only served as Chairman for 6 weeks. This is exactly the BS attitude that the new government is trying to eliminate and you should be sent to Chikurubi for fraud, incompetence, miss-allocation of funds and lastly stupidity.

    • gutter poet

      oh…..

    • Cecil of Mosi-oa-Tunya

      Ya ruma nzara.

  • Disastter

    Gata has a short memory or he thinks we are fools. ZESA workers during his reign all know the company was looted to a shell during his reign, Gata took the dual role of board chair and chief executive at his instiogation and ZanuPF with the intention of plunder. Has he forgotten the REA switch on ceremonies which were in reality ZanuPF rallies where money was dished out like candy. This is a case for ZACC to investigate ZESA finances during his time to unravel the rot and mess he left at the once thriving power utility. Gata is corrupto the core and he should be held to account for the money he stole and used to develop his Mutema farm in Chipinge.

  • Madubeko

    Tsek wako Sidza. Wakanzwa kuti tezvara vakapihwa 10 mita, wakati ah, ndingasarira!!! Manje wanyangira yaona.Govt must promptly recover whatever have you have received so far because you deserve absolutely nothing for screwing up ZESA. To put it mildly, you should be locked up…..iko kusanyara !!

  • Wadzanai Torira

    Here is another mad man, he thinks money grows on tree. Same same with Phelekezela Mboko and ISO certified confused former VP

  • Elton Jani

    This man must still think Mugabe is still in power, wake up idiot, its ED in control. Marrying Robert’s sista does allow you to demand anything. foolish

  • The General

    Oh another mad fella, just arrest him please

  • Innocent DeMorgan

    Is he not the one who is supposed to pay ZESA. All the problems we have at ZESA are because of this Gata. Do not give him anything he needs deliverance more than anything else

  • Davison Mbere

    Gata Unopengaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

  • Colin Rusere

    Shame. This sick man has many srews in his head lose. Go and die sick man. Or u want this money for treatment

  • Mutsai

    kusanyara, vhaipo, he is medically sick

  • Mutsai

    vhaipo, you are sick literally

  • Gary Mhowe

    This man thinks “money grows on trees” Anotopenga chete

  • Montel

    “He alleges that he served as chairman of ZESA Holdings from July 1, 2006 to June 12, 2006 before being forced to leave office through forced retrenchment.” And you want to be paid $10 million. No wonder he has herps

    • BonzoReChihuta

      Hahahahaha you killed me!

  • Moses Nkiwane

    Just like Phelekezela Mphoko Mboko this satanist is out of touch with reality

  • Helton Stid

    Give him Zim dollars there should be there somewhere at RBZ

  • nelson moyo

    This old man, due to his obvious illness, is still thinking in the old days of Gideon Gono monies and Zimbabwe dollars when there were billions and trillions of dollars floating about

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