Zimbabwe National Road Administration (ZINARA) board chairperson George Manyaya, said that the organisation has plugged all revenue leakages and the abuse of public funds is now a thing of the past.
Addressing the fifth ZINARA annual meeting in Harare, Manyaya said that the ZINARA board and management team have been reconstituted to enhance good corporate governance. He said:
Misappropriation and abuse of funds are a thing of the past.
The shareholder cleaned up the board which was also tasked with cleaning up the management team now headed by Fintech guru Nkosinathi Ncube.
The new executive team has been working very hard to adhere to various recommendations from the audits that were carried out and from Parliament as well.
Their focus is on transparency, improving staff performance and culture, and coming up with mechanisms and policies that improve the performance of the organisation.
Manyaya also said in inflation-adjusted terms, ZINARA reported a net surplus of ZWL$4.1 billion in 2020, up from ZWL$1.5 billion in 2019.
ZINARA finance director, Adam Zvandasara, said they have to constantly adjust to changing foreign exchange rates. Said Zvandasara:
We can’t review toll fees every week like what happens with the exchange rate, so we have come up with our own internal formula which tracks movement based on 10 percentage points.
For example, if the rate is $110:US$1, we wait and only review when it hits US$122.
Transport and Infrastructural Development Minister, Felix Mhona, said:
… I must say that the alignment of ZINARA to its mandate is now bearing fruit.
Going into 2022, the Government, through ZINARA, is going to expedite funding to all the road authorities to ensure that much ground is covered in terms of road rehabilitation.
ZINARA says it has distributed nearly ZWL$6 billion to all provinces and local authorities for road maintenance in the first quarter of this year under the Emergency Road Rehabilitation Programme (ERRP).