From best paid CEO to ‘squatter’ at medical aid society building

Posted on Feb 4 2014 - 5:46am by admin

By Tichaona Sibanda

Cuthbert Dube, the retired Premier Service Medical Aid Society (PSMAS) chief executive officer, has effectively been a ‘squatter’ at the six storey PSMAS building in central Harare since he was dismissed from his highly paid job last week.

Cuthbert Dube

Cuthbert Dube

Dube got the sack when it was discovered that he earned half a million dollars every month, almost twice the $230,000 initially reported, when his generous allowances were factored in.

The veteran administrator received allowances equivalent to his monthly basic salary of $230,000 plus a bonus of over $1 million. This brought his annual earnings in 2013 to $6.4 million. But the mega rich former boss has been refusing to vacate his position.

Despite being shown the exit door, Dube has defiantly remained at his post, with the Daily News reporting that the PSMAS board last week Thursday convened a special meeting to try and come up with ways to have the former CEO vacate his office.

The paper said when they visited the PSMAS headquarters Dube, now dubbed ‘Cashbert’, was still in his office.

Political analyst Mutsa Murenje told SW Radio Africa on Monday that Dube had built an aura of invincibility around him and his allies and that his dominance means people will struggle to challenge his powers.

The Herald reported on Monday that Dube could also own as much as 20 percent of a key subsidiary of the enterprise, an official close to the firm has revealed. The paper said a new board is investigating how Dube allegedly came to own 20 percent of PSMI, which is the PSMAS investment arm.

‘The board would like to know how such a huge stake fell into the hands of one employee and whether the equity was paid for or was part of his incentives package,’ the paper added.

‘This is a man who has been fired and continues to report for work as if nothing has happened,’ said Murenje, amid reports even board members and cabinet ministers were not comfortable dealing with his case as they reportedly benefitted from his benevolence.

Murenje said government must keep a tight lid on state run institutions if they wanted to restore some sanity into the parastatals, whose CEO’s are receiving astronomical perks and bloated salaries.

Dube is also the chairman of the Zimbabwe Football Association, ZIFA, and as chair of the ZBC is known to have facilitated the Zimbabwe Broadcasting Corporation CEO Happison Muchechetere’s hefty package, amounting to over $40,000 a month as workers wallowed in poverty.

But Information Minister Jonathan Moyo has moved in to shield Dube from the ZBC scandal, saying he has been punished enough. Moyo said Dube had done nothing illegal and that ‘making a wrong decision or taking a wrong decision is not illegal – it gets you fired.’ SW Radio Africa

  • Fogmaster

    Eheka, anotongodzingwa naMugabe chete! Handiti MUgabe is the ONLY person with power? vataura maMDC kuti Mugabe akazvibvumira kuti cashbert akeshe, saka which other bhurakwacha can fire him?

  • jim

    Leave office you f****** dog , you have contributed putting zim on its knees .you have looted enough to take you all the way to your grave yard. Leave or you will be carried out in a metal police coffin . F**** donkey !!

  • http://1.1.1.1/ Dog Star

    Hahahaha the most highly paid squatter! Keep squatting Cashbert. Zvinoita chete!

  • mugo

    Am just wondering how much Geshom Pasi earns, very interesting indeed its going to be !!!!!!

    • igwe

      He refused to divulge at a public fora, but he claimed he earns much less than what Cashbert’s secretary earned which is 15 000 ,only God knows how true is that…

  • A.J.

    Its interesting that all the swords are directed at Dube…Dube did not pay himself the so called obscene salaries, his employer, the Board determined and paid him that much.The anger and vitriol spewed at dube is misdirected.Who in his right mind would voluntarily ask for a reduction of his salary when he is offered a high salary by his employer? he did not steal he was paid!.Even if he is fired he will still be paid huge amount because of his salary.Its also embarrassing that all those authorities who are now ostensibly siding with the poor are even planning to take lgal action against him oh my foot.They new this and they waited for the newspaper to prompt them to act.Zvakaoma.

  • Mike

    I wonder why my relatives are still contributing to PSMAS?

    • Saif al Zim

      To pay Carthbert

  • Jay jay

    I Have a question for the Dube issues? Was Dube an employee of PSAMS if so who signed his letter of appointment? Did he negotiated his packs with his employer or not? So if his emplyers agreed to pay him that much whos problem it HIS or HIS EMPLOYERS