Zimbabwe: Zesa Holdings Loses Millions

18 March 2014

Zesa Enterprises is losing millions of dollars in storage and insurance costs after it took delivery of transformers worth US$16 million it had not ordered from an Indian supplier. Zent, which is Zesa Holdings' investment arm, has also spent over US$100 000 on travel and hotel costs for officials from PME (India) who came to Zimbabwe uninvited.

The revelations are contained in the 2012 report by the Comptroller and Auditor-General Ms Mildred Chiri, which is now before Parliament's Public Accounts Portfolio Committee for examination.

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