SUBMISSION OF REPORTS, STRATEGIC PLANS AND RESULTS OF KUVIMBA MINING HOUSE
HON. MARKHAM asked the Minister of Finance and Economic Development, as manager of State assets and funds, to explain to the House why the Ministry has not submitted reports, strategic plans, and results of Kuvimba Mining House for consecutive years since its inception in accordance with the Public Entities and Corporate Governance Act [Chapter 10: 31].m
THE DEPUTY MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT (HON. CHIDUWA): Mr. Speaker Sir, as I explained earlier, Government of Zimbabwe owns 21, 5% shareholding in Kuvimba Mining House. As such, the Ministry receives information on the company that a shareholder is entitled under the Companies and Other Businesses Entities Act. To that extent, as I have explained earlier, the company will be submitting its audited financial statements to its shareholders once they are finalised. This will be tabled at the company’s AGM.
HON. MARKHAM: I would like clarity from the Minister as to when we expect this year’s documents.
HON. CHIDUWA: Thank you Mr. Speaker Sir. As I have already mentioned, the tabling of the financial statements will be done at the AGM of Kuvimba Mining House, not here in Parliament. We are only a shareholder of Kuvimba, so we will only get the documents as a shareholder because it is a private company.
HON. MUSHORIWA: Mr. Speaker, my supplementary question to the Hon. Minister is to ask that in-asmuch as the financial statements are tabled at the AGM, Government being a shareholder of more than 20% of the entity and this Parliament being the oversight board that oversees the Executive. Could the Hon. Minister bring copies of the last financial year and the current year to this august House, bearing in mind that we really want to understand because apparently, if you then check Kuvimba, it is also paying farmers and we want to see the link and performance of the company, purely Mr. Speaker Sir, on that 20% shareholding that is owned by the people of this country.
HON. CHIDUWA: Hon. Speaker, I think I may need to be guided on that because what we are dealing with here is not a listed company. For a listed company, yes, it is a requirement that all these documents can be made public but for us as Government of Zimbabwe, I think what we can only do is, if Kuvimba declares dividends then there is that component that comes to us which is the 21 point something percent – this is what we can declare. As I have said, I may need to be guided but I do not think that it is going to be proper for us to bring the statements of a private company and table them in Parliament. – [HON. MUSHORIWA: Inaudible interjection.] –
HON. MARKHAM: On a point of clarity Hon. Speaker Sir!
THE TEMPORARY SPEAKER: Hon. Mushoriwa, Hon. Mushoriwa, may you resume your seat? Hon. Markham, what is your point of clarification?
HON. MARKHAM: Point of clarity! Mr. Speaker, if we go back to Question Number One…
THE TEMPORARY SPEAKER: Not Question One, we are now on Question Number Two …- [HON. MARKHAM: I know but Mr. Speaker sorry…] – We cannot go back to Question Number One … – [HON. MARKHAM: I am not going back. My point of clarity– is on Question Number Two. …] – Hon. Mushoriwa, Hon. Mushoriwa! Order please!
Continued next page
(520 VIEWS)
