WATCH LIVE: Chamisa Denies Meeting Secretly With Mnangagwa

Nelson Chamisa in response to the bribery allegations:

• Denial and Dismissal: He categorically denies the claims that he accepted bribes from ZANU-PF, dismissing them as absurd and the product of “intoxication” (rumor-mongering).

• Track Record of Sacrifice: Chamisa asserts his credibility by stating he has the “scars” to prove he has remained principled and consistent in his opposition to the ruling party.

• Lack of Material Gain: He points out that he holds no public office (not in Parliament), has not received a farm or a loan from ZANU-PF, and has received “nothing” from them except persecution.

• No Private Relationship with Mnangagwa: He confirms he has never privately engaged with President Emmerson Mnangagwa since 2017, only appearing at the same public events without any interaction.

• The “Bluetooth” Analogy: He ridicules the idea of receiving benefits, sarcastically asking if ZANU-PF can transfer “freebies” via Bluetooth, emphasizing he would not trade the country for personal gain.

• Personal Lifestyle: He clarifies that the analogy about “drinks” is irrelevant because he does not drink alcohol.

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2. Zhang Ying Potgieter (51), was arrested on 4 March 2026 by the Hawks (Serious Commercial Crime Investigation). It is alleged that Blue Planet Travel Services was used as a front to facilitate illegal cross-border money transfers exceeding R500 million. The company reportedly used the eNett payment platform to generate Virtual Account Numbers (VANs), which were used to move funds abroad for over 150 clients seeking to avoid taxes and legal duties. : Potgieter was granted R70,000 bail and is scheduled to reappear in the Palm Ridge Magistrate’s Court on 21 April 2026. 
3. Zwelibanzi “Zweli” Manyathi has been appointed as the interim Group CEO of African Bank, effective 6 March 2026. He succeeds Kennedy Bungane, was fired by the board on Friday

• Poor first-quarter financial performance: The bank’s performance was “considerably worse” than the typical seasonal slowdown, prompting Bungane to draft a turnaround plan.
• Loss of board confidence: Although the board initially approved his turnaround strategy, they later deemed him “unfit for purpose” to lead it.
• Regulatory reporting errors: The bank made mistakes in its regulatory reports to the Prudential Authority (PA) regarding new Basel 3.1 rules, which upset the regulator and raised questions about the bank’s data credibility.
• Conflict of interest concerns: The board was uneasy about credit facilities granted to Bungane’s spouse and business entities linked to his adult children.

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Notes

Kenny Bungane

1. Poor First-Quarter Performance
   The bank’s financial performance in the first quarter was a major factor.

• While the first quarter is typically a slow period for the lender, the performance in this particular quarter was “considerably worse” than usual.

• Bungane himself had drafted a “remediation and turnaround strategy” to address this poor performance, which the board initially approved. However, they later deemed him “unfit for purpose to lead” that very strategy.

2. Regulatory Reporting Errors
   A serious error was made in the group’s regulatory reporting to the Prudential Authority (PA).

• The errors occurred in the implementation of new Basel 3.1 rules and involved “bankers’ acceptance returns,” which are mandatory monthly reports.

• The mistake “upset the PA” and raised questions about the “credibility of African Bank’s regulatory data and reporting.” This breach of regulatory compliance was a significant issue for the board.

3. A Conflict of Interest Allegation
   The board was reportedly uneasy about a potential conflict of interest.

• The bank had granted credit facilities to Bungane’s wife, who operates fuel service stations, and to business entities linked to his adult children.

• While these were declared, the situation created unease within the board, although the termination letter from board chair Thabo Dloti did not list this as an official reason for his firing.

Context of Instability
This dismissal adds to a history of leadership turmoil at the bank. Bungane’s departure marks the fourth CEO in eight years under the current board, highlighting an underlying pattern of instability at the executive level.