By Staff Reporter
An audit report by Price WaterHouse Coopers has revealed that the currently incessant power cuts and unscheduled load shedding are a result of mismanagement of funds by ZESA and its subsidiaries.
The audit revealed that besides other many ills, top managers were also splashing money on top of the range vehicles which they were not entitled to in the first place.
A Final Forensic Investigation Report (January 2019) seen by this publication indicates that Zesa Enterprises (ZENT) acquired equipment which includes transformers, electricity meters and cables among other machinery which is lying idle at ZENT warehouse in Harare.
According to the report, that equipment is worth more than US$1.5 million and this loss comes at a time when ZESA is struggling to pay its service providers such as ESKOM of South Africa which they owe about US$43 million.
ZESA insiders revealed that the managers in the procurement department would connive with suppliers and pocketed kickbacks while purchasing equipment which the power utility had no use of.
The report further states that a “dubious” company Zebra Consultancy started working and financially benefiting from Zimbabwe Electricity Transmission Distribution Company (ZETDC) in 2003 with no contract.
“We discovered that Zebra Consultancy started working for ZETDC from September 2003 without a contract,” reads part of the audit.
According to sources within ZESA Holdings, over a billion dollars was paid to Zebra consultancy to dig trenches over the period in question and the records were all distorted by some senior managers.
“Over a billion dollars was paid to Zebra Consultancy to dig trenches and some top managers (names supplied) were behind the deal and they were benefiting and some are believed to be behind the company’s shareholding.