#MondayBlues: NetOne Suspended Executives Blow Half A Million

It is six months now after the NetOne board of directors instigated an investigation on corruption and fund misappropriation charges, at the state controlled mobile network.

The nation eagerly waits the final verdict of the probe.

By Bee Sting

While the government is trying to cut costs for NetOne, over $500 000 may have been blown in salaries alone, as the suspended executives are still enjoying full salaries and full benefits  seven months post-suspension.

 

Top Netone executives on suspension are currently receiving salaries ranging from $12 000 to $15 000, with the suspended CEO Mr Reward Kangai pocketing not less than $20 000. This makes their monthly salary bill  a whopping $70 000 over seven months cumulatively adding to a $490 000 bill.

Netone's suspended CEO Reward Kangai

Netone’s suspended CEO Reward Kangai

 

 

On its own, this is another extra cost blowing the figure above the estimated $500 000, as the NetOne wage bill continues to skyrocket by the month.

 

 

When the PWC   initially brought their results, it seems the government was not satisfied with the report, and asked them to scratch deeper than the surface peel. This we understand has already been completed.

 

It seems the board is now on catch 22, failing to make a final decision to conclude the matter, amid serious boardroom squabbles which ultimately saw four board members booted out as the matter raged on.

However, massive anxiety grips the seven suspended NetOne executives invading the CEO as they anxiously await for the outcome of the latest audit and the interpretation of it thereof, while in the meantime they are just home enjoying

A decision over the NetOne issue needs to be made urgently, so as to calm the current situation and clearly define the future for NetOne so that the company fully functions.

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