President Emmerson Mnangagwa has threatened to deal with those found manipulating tender processes, money laundering and evading taxes which he said have contributed to the country’s current economic woes.

Speaking at the Public Sector Audit Conference in the capital today, Mnangagwa described as disheartening financial dishonest engagements such as those witnessed in procurement and tendering processes, saying it has all contributed to the country losing huge sums of money.

“It is presently disheartening that the country continues to lose huge sums of money due to fraud, money laundering, procurement or tender manipulation, insider trading in stock and financial markets among other ills in both the private and public sectors,” he said.

Mnangagwa described non performing public enterprises alongside tax evasion by some business activities as an albatross around the government’s neck while castigating financial mismanagement and lack of proper audits for undermining economic growth.

“Financial mismanagement, lack of proper audits and disregard of audit observations, are detrimental to business viability and ultimately threaten the very survival of companies.

“In the second republic we will not tolerate the culture of siphoning public funds through various nefarious activities for personal gain and enrichment.”

Mnangagwa urged corporates and local authorities to act in good faith regarding financial administration.

“Such propensities are both criminal and retrogressive. I therefore urge all corporates, board of public entities and local authorities to uphold good financial administration and protect national assets for the good of all our people and growth of our economy.  Those found wanting will face the full wrath of the law,” he said.

High ranking ex government officials including Supa Mandiwanzira, David Parirenyatwa and Savior Kasukuwere among others have been dragged to court to answer to corruption charges and abuse of office.

Sharing is caring!