The reputation of an organisation in the corporate environment is extremely important. It ensures business growth and future viability of the business. Reputation of an organisation is also important for customers and clients who rely of these businesses for products and services. Loss of reputation can be extremely dangerous for an organisation, even if this loss is as a result of false allegations. Finance Bank Zambia had been suffering for a similar reputational issue since the conspiracies started by Simaata Simaata.
Finance Bank Zambia was founded by Dr. Rajan Mahtani, one of the most respected and noted businessman in Zambia. Though he has left his ownership of the bank to another entity, he has always remained a well wisher for the bank. As a result, the news of Finance Bank’s reputation in jeopardy was a grave concern for him too. With consultation, it was decided that the best option for the bank was to approach court as it was impossible to have any negotiator talks with Simaata. Finance Bank and Simaata had earlier signed an agreement for which the latter was paid a good amount. However, he broke the same agreement afterwards by giving false and opinionated testimonials at several courts. He also released sensitive bank related documents to local media causing further damage to the bank’s finance and reputation. It was also decided that the best court that will provide Finance Bank proper judgement will be Supreme Court Zambia, the highest court of the nation.
The verdict from Supreme Court was a big relief for Finance Bank and Dr. Rajan Mahtani. Simaata was charge guilty and was also awarded penalty for his acts. This judgement will now be the first step of Finance Bank towards gaining its lost reputation bank.