Econet in $330 million tax scandal


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Econet, the country’s largest mobile phone operator, has been fingered in a $300 million tax scandal in which it is alleged to have dodged paying duty and taxes between 2009 and 2013 with the connivance of Zimbabwe Revenue Authority officials including former boss Gershem Pasi.

The allegations are contained in a ZIMRA forensic audit report released in October last year.

According to The Sunday Mail, Econet also allegedly externalised foreign currency by over-invoicing its Mauritius Based sister company, Econet Capital.

ZIMRA boss Willia Bonyongwe confirmed that forensic auditors had raised the red flag and her organisation was investigating the allegations.

She said the investigations were being stalled by that fact that senior ZIMRA officials were also under investigation.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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