{"id":37007,"date":"2023-10-31T16:15:07","date_gmt":"2023-10-31T16:15:07","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=37007"},"modified":"2023-10-31T14:49:34","modified_gmt":"2023-10-31T14:49:34","slug":"status-capital-fighting-to-terminate-md","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md","title":{"rendered":"STATUS CAPITAL FIGHTING TO TERMINATE MD"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>Status Capital Building Society and its estranged Managing Director Michael Mbetse return to court today hoping for finality in their bitter wrangle that has dragged on for a good part of the year.<\/b><\/p>\n

The building society is sticking to its guns over Mbetse\u2019s dismissal, insisting that its decision to fire the MD was untenable following his refusal to subject himself to a disciplinary hearing.<\/p>\n

The matter was first filed in court on June 23, 2023, where Mbetse was seeking to stay the disciplinary hearing into which he had been hauled on allegations of serious misconduct.<\/p>\n

Mbetse challenged his suspension arguing about the process and the board\u2019s oversight.<\/p>\n

Status Capital refuted this in their answering papers stating that he ultimately reports to the board and therefore it has the necessary mandate to suspend him.<\/p>\n

The board maintained that since Mbetse had not appeared before the independent disciplinary committee’s chairman even once, he had no grounds to criticise the process nor can the court interfere in an incomplete disciplinary process.<\/p>\n

Amidst these proceedings, Mbetse laid serious accusations against the board of Status Capital, which have been refuted by the building society, leading to it also seeking an order to strike them out from the record as they are scandalous, vexatious and\/or irrelevant and aimed to muddy the waters and defame Status Capital.<\/p>\n

The Status Capital Chairman Wandile Mtshali stressed in his answering affidavit that Mbetse had no defence against the allegations levelled upon him, accusing the MD of seeking to discredit the very organisation employing him in a desperate attempt to have his dismissal overturned.<\/p>\n

Whilst the matter was pending in court, subject to various postponements, the board of directors resolved to summarily terminate the MD\u2019s services, which he argued, through an urgent application filed on September 8, was unfair and unlawful.<\/p>\n

In his dismissal letter, the chairman cited continued breach of grounds of suspension by Mbetse and breach of confidentiality evidenced by numerous unprofessional social media posts aimed at scandalising the organisation, which was shocking from someone of his stature.<\/p>\n

The court agreed to stay the dismissal until October 30, when this matter would be argued to finality.<\/p>\n

The building society insists the stay should not have been granted on the basis that once dismissal has been effected, it can only be challenged through first lodging a dispute with CMAC in terms of the Industrial Relations Act of 2000.<\/p>\n

The charges against Mbetse include maladministration, gross incompetence, alleged victimisation and threatening of staff and board members alike, amongst other charges.<\/p>\n

Special General Meeting<\/p>\n

Status Capital Executive Director Nomfundo Fakudze told this newspaper that the matter was still sub- judice and an update would be provided at the society\u2019s Special General Meeting, which has been scheduled for November 20 where the society is hopeful the court would have ruled on the matter.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. Status Capital Building Society and its estranged Managing Director Michael Mbetse return to court today hoping for finality in their bitter wrangle that has dragged on for a good part of the year. The building society is sticking to its guns over Mbetse\u2019s dismissal, insisting that its decision to fire the MD […]<\/p>\n","protected":false},"author":84,"featured_media":37006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,248,249],"class_list":["post-37007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nSTATUS CAPITAL FIGHTING TO TERMINATE MD - Eswatini<\/title>\n<meta name=\"description\" content=\"Status Capital Building Society and its estranged Managing Director Michael Mbetse return to court today hoping for f ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STATUS CAPITAL FIGHTING TO TERMINATE MD\" \/>\n<meta property=\"og:description\" content=\"Status Capital Building Society and its estranged Managing Director Michael Mbetse return to court today hoping for f ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-31T16:15:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/10\/sm_1698751006.663243.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"STATUS CAPITAL FIGHTING TO TERMINATE MD\",\"datePublished\":\"2023-10-31T16:15:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md\"},\"wordCount\":488,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/10\/sm_1698751006.663243.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/status-capital-fighting-to-terminate-md\",\"name\":\"STATUS CAPITAL FIGHTING TO TERMINATE MD - 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