Business Reporter<\/p>\n\n\n\n
<\/p>\n\n\n\n
ZANU PF’s business units have reported zero profits, raising concerns about the ruling party’s financial health.<\/p>\n\n\n\n
Despite this, the party has spent nearly US$50,000 on propaganda and training workshops at the Herbert Chitepo School of Ideology.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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,<\/p>\n\n\n\n
\u201cThe party did not receive any dividend from party investments during the current financial year.\u201d<\/p>\n\n\n\n
The report further elaborated,<\/p>\n\n\n\n
\u201cThis year, the party has been operating under a difficult financial situation due to the negative effects of the El Ni\u00f1o-induced drought.\u201d<\/p>\n\n\n\n
Despite these challenges, the party has managed to mobilize resources, claiming,<\/p>\n\n\n\n
\u201cNonetheless, the party, working with supportive stakeholders, has managed to mobilize financial and other resources in an effort to actualize the party\u2019s programmes.\u201d<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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,<\/p>\n\n\n\n
\u201cThe fundraising committee is doing some sterling fundraising efforts towards funding party programmes inclusive of the national people\u2019s conference.\u201d<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
Zim GBC News\u00a92024<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" 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… <\/p>\n","protected":false},"author":1,"featured_media":6187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124,109],"tags":[],"class_list":["post-6186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-politics"],"_links":{"self":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/6186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6186"}],"version-history":[{"count":1,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/6186\/revisions"}],"predecessor-version":[{"id":6188,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/6186\/revisions\/6188"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/media\/6187"}],"wp:attachment":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6186"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}