ZESA Lost Money to RBZ – Comptroller and Auditor General
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HARARE – June 16, 2012 – Zimbabwe Electricity Supply Authority (ZESA) has
lost slightly over US$1million from its tobacco farming activities after the
funds were forfeited by the Reserve bank of Zimbabwe (RBZ), the Comptroller
and Auditor General Mildred Chiri has said in her latest report.
The top government auditor also revealed that ZESA risks losing nearly
US$5million held by banks in South Africa and China.
“I noted that there were tobacco sales to Zimbabwe Leaf Tobacco amounting to
US$1 299 412, 40 that have not been recovered for a period of over two
years. ZLT instructed RBZ to make a transfer of the funds to ZESA
enterprises. However, the RBZ took the funds citing that ZESA holdings has a
debt owing to RBZ which RBZ decided to set off. ZESA enterprises was still
reflecting this trade debtor in their accounts as owing,” said Chiri.
“Recommendation- the debt should be transferred to ZESA holdings upon
reaching mutual consensus or provide for the debt in full. Concerted effort
should be made to resolve this issue.”
The report added that ZESA was losing revenue due to non billing of
customers as most farmers were not being due to their hostility to meter
readers. It added that ZESA officials sent to disconnect defaulters were
sometimes bribed.
It said US$4; 2 million was held with South Africa’s FNB bank and US$33 000
by Escrow bank of China and no follow ups have been made on the money for
years.
“No reconciliations were prepared for the accounts as no statements were
received. In the prior year no reconciliations were prepared due to the same
reason. Thus there has been no correspondence with the banks for the past
three years,” Chiri said in her report.