Financial fiddling


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The country’s major newspaper publisher, Zimbabwe Newspapers, may not only have the recently launched Daily Gazette to worry about. Reports say there could have been some financial fiddling within the company but there has been no mention of how much is involved.

The launching of the Daily Gazette has put Zimpapers on its toes and the country’s main daily, The Herald, seems to be improving probably to the chagrin of those at the Daily Gazette. The Herald is increasingly tackling issues more analytically and in greater depth since the launching of the rival daily.

Although the financial fiddling is not yet clear, the company has been buying a lot of imported cars recently and some of the senior management have definitely been making a killing. Reports say some members of the top management have been obtaining the cars and other goods at quite some good rates, inflating them and then sharing the spoils with suppliers.

This was quite easy because they were the ones who determined the selling prices and also authorised the purchases.

(20 VIEWS)

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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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