Zimbabwe’s public funds watchdog, Parliament’s Public Accounts Committee, has expressed dismay that the government, which is struggling to pay civil servants, pumped out $11.8 million to bail out a private company but stunned the House when it said it had failed to identify the owners of the company.
The committee comprises members from the ruling Zimbabwe African National Union-Patriotic Front and both factions of the opposition Movement for Democratic Change.
The members are: Paurina Mpariwa (chairperson), David Chapfika, Eddie Cross, Tionei Melody Dziva, Tichrwa Madondo, Joseph Mapiki, James Maridadi, Reuben Marumahoko, Margaret Matienga, Kennedy Matimba, Priscilla Misihairabwi- Mushonga, Alfred Mufunga, Alexio Musundire, Beatrice Nyamupinga, Innocent Pedzisai, Tose Wesley Sansole, Zenzo Sibanda, Yeukai Simbanegavi, Godfrey Sithole, and Mayor Justice Wadyajena.
Committee chairperson Paurina Mpariwa said the government paid a total of $11 833 443 to China Exim Bank to settle the debt of Farmers’ World after it failed to meet its obligations.
Usually outspoken Eddie Cross said: “We were unable to discover who owns this company. How can they be given a substantial sum of money…?”
He went on: “This is a substantial sum of money, US$12m is more than half the budget of this National Assembly for twelve months. It is more than the total salary bill for Parliament and yet this loan was made to Farmers World and no attempt has been made either to identify who was involved or to recover the money from the company.
“Mr. Speaker, any Chief Executive who did not follow up a debt of this magnitude would be fired instantly. In this case here Manungo, I think the Secretary for the Ministry of Finance, must be brought to account. He must explain why this matter has not been pursued. I say this is the tip of the iceberg more than US$200m of the Debt Assumption Bill was involved in this kind of activity and these funds have simply vanished.”
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