Harare(ZimEye) Kingdom Bank founder Nigel Chanakira has resigned from Kingdom Meikles Limited (KML), ending a long-drawn boardroom war that nearly brought down one of Zimbabwe’s largest listed companies.

KML chairman Muchadei Masunda read out Chanakira’s brief resignation letter at an extraordinary general meeting held at the Meikles Hotel where heavily armed riot police in September prevented a similar meeting from taking place.

Meikles’ major shareholder John Moxon’s lawyer Sternford Moyo told the meeting that negotiations for Chanakira’s resignation had taken place in Johannesburg over several days, concluding on Thursday.

Moyo said a lot of goodwill had been built between Chanakira and Moxon following their fallout last year.

Masunda said he would hold a meeting with the country’s two home affairs ministers, Giles Mutseyekwa and Kembo Mohadi on Monday to have Moxon de-specified.

The meeting on Friday was due to have voted for the removal of Chanakira and two others from the KML board.

The two other directors set to have been axed, Callisto Jokonya and Precious Bango also resigned along with Chanakira.

Chanakira created problems for KML after agreing in June and then refusing to step down from the KML board.(ZimEye, Zimbabwe)

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