A report by the Auditor- General (AG) Mildred Chiri has revealed that the majority of parastatals are heavily in debt. More than 20 state-run entities have liabilities running into hundreds of millions of dollars. Some of them face imminent collapse and this has been attributed to poor corporate governance and mismanagement and corruption. Some of the parastatals in deep financial distress include Air Zimbabwe, ZETDC, ZPC, NRZ and GMB. In a report for the financial year ended December 31, 2017, Chiri said
My audit revealed entities which are facing challenges in providing service sustainably. I reported 23 of such cases and these include Zesa Holdings and its subsidiaries, GMB, NRZ, Air Zimbabwe, Zimparks, Zipam, Zimpost, Allied Timbers and Nust, among others.
More: Zimbabwe Independent
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