Zimbabwe’s largest media group, Zimpapers, says that it has budgeted capital expenditure of $3.8 million for 2017 and has so far spent $750 000 on equipment and property development.
The Ministry of Transport could not account for more than $2 million it was given by the Zimbabwe National Roads Authority in 2014 and has been given until 31 August to reconcile its books.
Zimbabwe’s use of cash for transactions has dropped by 76 percent to 20 percent, with plastic money and mobile money usage on the rise as the acute dollar shortage persists, an official said today.
The Permanent Secretary for Transport Munesu Munodawafa totally disregarded regulations and procedures for running the ministry and did not show any remorse at all for his conduct when this was pointed out by the auditor-general, a Parliamentary committee says.
Zimbabwe needs to embrace public-private partnerships and reduce its reliance on parastatals in order to create a good economic environment that attracts more investment, according to an independent economic and political analyst.
Zimbabwe’s Parliament has called on the Civil Service Commission to issue a stern warning to former Transport secretary Munesu Munodawafa for failing to seek Treasury approval for moving funds on projects approved by Parliament and disguising the expenditure under different projects.