via Zanu PF Officials Allegedly Abuse Youth Empowerment Fund 29.05.2014 VOA
Zanu PF officials, among them MP Makhosini Hlongwane and Affirmative Action Group vice president Chamu Chiwanza, are alleged to have benefited from the $20 million Stanbic Youth Empowerment Fund meant for disadvantaged youths.
Bank statements released to the Parliamentary Youth and Indigenization Portfolio Committee by the bank’s head of Business Banking, Patson Mahachi, indicate that though the youths were supposed to receive loans of between $5,000 to $20,000, some top Zanu PF officials accessed loans of up to $500,000 each.
The committee was also told that 90 percent of the beneficiaries were from Harare while some provinces like Masvingo had only three beneficiaries and nobody in Matabeleland South got any loan.
Lawmakers expressed concern that the fund was abused by people, who were above the targeted age groups ranging from 21 to 35.
Both Hlongwane and Chiwanza were not available for comment as their mobile phones were not being answered.
More details to follow …
COMMENTS
A good lesson to Stanbic. And all the other ZANU supporting institution s. And now the bank is contemplating moving out. Give ZANU kick backs and it will spit on you.
Since ZANU has crowned themselves “liberators” even though civilians helped with food, shelter and clothing during the war, they feel entitled to all the wealth in Zimbabwe. This is why looting is so rampant.
When it comes to funding, with Zanupf there will always be looting. As soon as they hear about money they all go crazy like vultures on a carcass. Money did sell Jesus, but what happened to the benfitiary?
Yyyyaaaaaawwwwnnnn!!!
Is there anyone out there who is actually surprised by this? And the consequences?? Forget about it already!!
Ha ha ha ha ha hee hee hee ha ha ha
And it was supposed to be a youth fund. Our banks are had on poor povo who fail to settle loans in time but are able to write off these abuses.
No surprises! – here they are again putting their thieving sticky fingers in places where they do not belong. Even if they had their hands chopped off- these thieving hands would still find their way into places where they do not belong