Zanu PF In Financial Dire Straits

ZANU PF is facing serious financial problems amid reports that it has been battling to pay its 500-plus workers since March.

 

Impeccable sources said the party has since tasked its national fundraising committee to mobilise $50 billion to meet its recurrent expenditure, employees’ salaries and bankroll its annual conference to be held in Bindura in December.

The sources said Zanu PF failed to pay its employees from March to August after it committed funds to the campaign for the March harmonised elections and the bloody June 27 presidential run-off election.

“The workers were not paid for six months since March,” one of the sources said. “Instead, the party has since June been giving the workers fuel for resale to sustain themselves and their families.”

The sources said directors in Zanu PF were getting 200 litres a month while the least-paid employees were being allocated 25 litres.

Zanu PF has a credit facility with the National Oil Company of Zimbabwe and it is this arrangement the party is using to source fuel and allocate it to its employees.

Efforts to get a comment from finance secretary David Karimanzira were in vain yesterday, but last week he told Zanu PF’s official mouthpiece, The Voice, that the party was in financial difficulties.

Karimanzira, the governor and resident minister of Harare, said Zanu PF wanted to mobilise $50 billion to meet its day-to-day expenditure, pay salaries and finance its national conference.

He confirmed that the party was having “challenges” paying its employees and has over the past “few months” met its recurrent expenditure through overdrafts.

“The major challenge still remains on the funding of salaries of the party workers, other party programmes, especially those initiated by the commissariat, for example, the ongoing restructuring exercise, 2008 annual conference in Bindura and the day-to-day administrative expenditure,” Karimanzira said.

“So it is upon all provinces fundraising committees and the national fundraising committee to redouble efforts in fundraising activities. The national fundraising committee is expected to raise $30 billion and the 10 provincial committees $20 billion.”

He said as part of mobilising the funds, the Zanu PF finance department had reviewed upwards the price of membership cards.

The approved new rates for a membership card of a politburo member is $3 000, central committee member $2 000, national consultative assembly $2 000 and district coordinating committee members $1 000.

Before the presidential run-off, Zanu PF was reportedly facing serious financial problems and was allegedly bailed out by the Reserve Bank.

By Constantine Chimakure

 

 

 

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