THE Zimbabwe National Road Administration (Zinara) is under pressure from the Auditor–General (AG)’s office for “not dealing with its legacy debts”.
President Emmerson Mnangagwa’s government has unveiled plans to lure investors on the basis of a good credit rating and where thousands of creditors have also been given treasury bills for their debts.
Zinara was recently been allowed to increase its toll fees in order to sustain its operations through an economic tariff.
“For two consecutive years now, Zinara’s audits have been flagged and qualified by the AG for not honouring its debts – and for services rendered to it nearly 10 years ago – and which were approved by previous boards, and executives, but remain unresolved,” a source said this week.
“As you might know, Rhea Kujinga – and probably her predecessor Mildred Chiri’s – concerns arise from the threat of litigation and how these issues might cost the parastatal millions of dollars in damages, and unnecessary interest payments.
While several socio-economic factors, including a western embargo and foreign currency shortages, have affected Zimbabwe’s loan repayment programmes, Foreign Affairs and International Trade minister Frederick Shava has reiterated “Harare’s commitment to fulfill or meet its obligations.”