HCC reviewing business ventures

BY MOSES MATENGA

HARARE City Council (HCC) is probing almost all its joint ventures across the city amid reports of corruption and underhand dealings that have seen the local authority not getting meaningful returns.

Council has taken keen interest in operations of several firms in which it has a stake such as Mabvazuva joint venture, Augur Investments and Sunshine Meats, among others.

There have also been calls for due diligence before entering into deals with other companies.

“The committee underscored the need to conclude issues relating to Sunshine Meats (Pvt) Ltd. … The committee resolved that it be noted that a cleaning up exercise on Sunshine Meats was currently underway which also involved the carrying out of a forensic audit,” the business committee minutes read.

In the Mabvazuva deal, where there are reports that council was not receiving anything, the committee said: “The committee underscored the need to resolve all issues relating to operations at Mabvazuva Village. The meeting resolved that the town clerk takes action.”

HCC was advised that all potential ventures in the city should be subjected to “a due diligence analysis and feasibility studies after which approval would be in compliance to the provisions of the Joint Ventures Act”.

Council has been prejudiced of millions of dollars in some dubious ventures where they have failed to get any meaningful returns.

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