ZACC Probes ZINARA Over Unaccounted ‘Petty Cash’

The Zimbabwe Anti-Corruption Commission (ZACC) has been asked to probe the Zimbabwe National Roads Authority (ZINARA) over $241 000 in “petty cash” issued to staff and the new management team.

An unnamed ZINARA employee revealed that a formal report was made to ZACC to investigate what the money was used for. The employee said:

We have already made a formal report to ZACC and the matter is now before them. The matter was flagged by our audit teams who discovered that there were no proper acquittals that were made with reference to the so-called petty cash allowances.

This was brought to the attention of Mr Taranhike then as finance director and other executive directors but it seems they were reluctant to address the issue.

The money was reportedly issued during the period when the Zimbabwean dollar was pegged at 1:1 to the US dollar.

With the interbank exchange rate now at 1:16, the amount is the equivalent $3 856 000.00.

More: Chronicle

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