Top Private School Placed Under Corporate Rescue
Knowstics Academy has been placed under corporate rescue, with Budhama Chikamhi appointed corporate rescue practitioner, reported NewsDay.
Chikamhi’s appointment means he has replaced the school’s governing body in managing the institution.
A circular was issued on November 21, 2024, informing stakeholders about the corporate rescue. Said Chikamhi:
One of the measures which was taken by the previous governing body of the school was to scrap Form Two such that students doing Form One would skip Form Two and go straight into Form Three.
I wish to advise that effective from January 2025, the school will re-introduce the Form Two stream in line with the Primary and Secondary Education ministry requirements…
The school used to offer commercial and arts subjects at Lower and Upper Six levels and these had been scrapped by the previous governing body.
Effective from January 2025, the school will be offering the subjects to provide students with appropriate choices in line with their career aspirations.
I have appointed a three-member technical committee which is chaired by Fredrick Hamadziripi, a renowned educationalist and current chairman of the Legal Undergraduate Programmes Department at the University of Zimbabwe.
Chikamhi plans to work with stakeholders, such as banks and parents, to ensure the school operates smoothly.
The corporate rescue plan includes suspending legal actions, like court orders and asset seizures, to give the school time to recover.
The initiative aims to help the school regain stability and prevent it from being shut down.
More: Pindula News
