President Robert Mugabe has reportedly blown an estimated $20m of state funds in eight of his Zanu-PF youth interface rallies held so far.
The nationwide series of rallies to drum up support from youths ahead of elections next year kicked off in June and were expected to conclude in October.
Mugabe was set to visit all of the country's 10 provinces.
According to NewsDay, a large amount of the money used for the rallies was drained off from state-owned companies which the nonagenarian recently admitted were struggling to make any returns.
Sources within the ruling Zanu-PF were quoted as saying that the part was spending an average of $2.5m to host each rally.
The report also alleged that the First Family's business empire, Gushungo Dairies - was cashing in on the rallies - having pocketed $120 000 so far through the provision of its ice-cream and other milk products, which were later disguised as donations and given out to party supporters.
But Zanu-PF spokesperson Simon Khaya Moyo rubbished the claims, adding that he would not discuss unsubstantiated allegations.