Business Reporter
ZANU PF’s business units have reported zero profits, raising concerns about the ruling party’s financial health.
Despite this, the party has spent nearly US$50,000 on propaganda and training workshops at the Herbert Chitepo School of Ideology.
This school is now being promoted as a prerequisite for employment in the civil service, with recent reports indicating that councillors from across the country were compelled to attend, funded by their municipalities.
The ideology school aims to instill knowledge about Zimbabwe’s history through a curriculum crafted by the ruling party. A central committee report revealed that ZANU PF’s business units have been struggling financially, stating,
“The party did not receive any dividend from party investments during the current financial year.”
The report further elaborated,
“This year, the party has been operating under a difficult financial situation due to the negative effects of the El Niño-induced drought.”
Despite these challenges, the party has managed to mobilize resources, claiming,
“Nonetheless, the party, working with supportive stakeholders, has managed to mobilize financial and other resources in an effort to actualize the party’s programmes.”
Financial details from the report indicate that ZANU PF spent US$49,568 on its School of Ideology and US$2.7 million on salaries. The party’s income included ZiG13,493 and US$77,817 from membership fees, along with ZiG47,883,500 under the Political Parties Finances Act and an additional US$8.1 million in donations. However, their total expenditure reached US$6.5 million and ZiG10,578,189.
Specific expenditures included US$21,768 for the council of elders, US$27,000 for disciplinary committee meetings, and US$57,101 on refreshments and travel for the administrative department. The report also noted significant spending on restructuring and external relations, with US$708,000 allocated for restructuring alone.
In light of these financial struggles, ZANU PF has established a fundraising committee chaired by businessman Phillip Chiyangwa, which includes notable members such as gold dealer Scott Sakupwanya and Youth Deputy Secretary John Paradza. The report stated,
“The fundraising committee is doing some sterling fundraising efforts towards funding party programmes inclusive of the national people’s conference.”
Despite the financial difficulties, ZANU PF continues to invest in luxury items, including high-end vehicles, raising questions about the party’s priorities. President Emmerson Mnangagwa previously oversaw the decline of the ZANU PF business empire during his tenure as treasurer-general and secretary for administration, highlighting a troubling history of financial mismanagement within the party.
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