ZIMBABWE'S public purse is haemorrhaging billions of dollars — not because of a single scandal, but due to years of weak controls, poor record-keeping, unprotected assets and ignored regulations, the Auditor-General has revealed.
The latest report on Appropriation Accounts, Finance and Revenue Statements, tabled in Parliament, paints a picture of systemic financial mismanagement across ministries, departments and agencies (MDAs).
Weak controls, unrecorded assets, deteriorating infrastructure and ballooning debtors are exposing the State to financial losses, theft of public property and mounting fiscal risks — raising fresh concerns over accountability and the safeguarding of public resourcesover accountability and the safeguarding of public resources at a time when government can least afford it.
The findings come as taxpayers, already burdened by a raft of taxes, demand greater accountability on how public funds are managed.
Following Zimbabwe's transition from the Zimbabwe dollar (ZWL) to the Zimbabwe Gold (ZWG) on April 5, 2024, Treasury directed all MDAs to convert transactions into ZWG to ensure uniform financial reporting.
However, seven of the 40 audited funds failed to comply.
As a result, transactions amounting to ZWG8,82 million, ZWL518 million and US$2,9 million were incorrectly translated, resulting in material misstatements in government financial statements.
The audit also exposed major weaknesses in asset management. Six funds failed to maintain updated asset registers, leaving newly acquired assets worth US$717 353 and ZWG300 778 unrecorded and vulnerable to theft or misuse.
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Another six funds failed to conduct market valuations of government-owned land, buildings, vehicles and office equipment.
The Auditor-General also found obsolete equipment — including assets unusable for more than 20 years — still listed on official registers, while stolen government property had not been reported to police as required by law. Biological assets valued at ZWG2,41 million lacked supporting stock records and valuation certificates.
"Crucially, 14 deceased dairy cattle remained listed on active registers, while physical counts failed to reconcile with livestock balance sheets, heightening the risk of undetected theft," the report said.
The audit further highlighted deteriorating public infrastructure, with State-funded animal watering troughs and laundry basins failing to meet required technical standards. Site inspections also found government office buildings, staff accommodation and office furniture in an advanced state of disrepair due to inadequate maintenance. The Auditor-General warned that postponing routine maintenance would raise long-term rehabilitation costs while creating safety risks.
The report also raised concerns over government debt management.
Across 14 ministries, outstanding revenue from services rendered had reached ZWG46,98 billion, US$1,63 million and ZWL1,9 billion, with 17 funds lacking effective debt recovery strategies. Delayed collections, the report warned, expose public funds to erosion from inflation.
Government arrears dating back to 2020 stood at ZWG250,34 billion, ZWL17,41 billion and US$333 887, with delayed payments risking penalty interest and damage to the State's creditworthiness.
The audit also found breaches of public finance laws: 11 funds advanced ZWG7,7 million and ZWL59,58 million to their parent ministries, while ZWG3,4 million was transferred to five statutory funds without Treasury approval. None of these amounts had been repaid, weakening the financial position of the lending entities.
The findings add to growing concerns over financial governance in the public sector, with the Auditor-General repeatedly calling for stronger internal controls, improved asset management and stricter adherence to public finance regulations.
