via Broke Zanu PF owes creditors $11,5m 04/12/2014
THE ruling Zanu PF party is in the red and owes creditors over $11 million.
The bitterly divided party is currently holding its congress in Harare which has seen President Robert Mugabe effectively force out his deputy, Joice Mujuru, claiming she wanted to kill him.
In its report to the central committee report, Zanu PF’s finance department revealed that the party has, this year, relied on a “bank overdraft of $6 million which has accrued an interest charge of close to $500,000 for the 2014 financial year”.
Over this financial year, the cash strapped party spent $11, 1 million against paltry income of just $3,9 million, meaning a deficit of about $7 million.
According to the report, major expenditure items for the party included staff salaries ($2 969 965), congress expenses ($5 million), the women’s conference ($909 998) and the national youth league conference (911 965).
The report also indicated that Zanu PF has not settled its telephone and internet bills which are now are pegged at $429,999.
Major sources of income for the liberation movement in 2014 included donations ($1 525 150), membership fees ($382,631), government grant ($571 000) and fund raising ($1 294 902).
Zanu PF’s financial problems were laid bare in August when delegates to the national youth conference in Harare were said to have gone without food.
An embarrassed Mugabe then ordered his wife, Grace, to donate tonnes of maize and a 30 cattle from the First Family’s own livestock holdings to help feed the hungry youths.
“I am informed that the delegates did not eat since arrival. Are we failing to provide even food for the delegates? What are we doing as members of the leadership? Mugabe asked then.
“I will not accept an excuse of money, money for transport? What about the subscriptions from the people, where are they going? Yes we must be frank, I am not happy.”
The veteran leader then hammered administration secretary Didymus Mutasa, accusing him of concentrating on scheming for the national chairman’s post instead of mobilising resources for the youths.
Mutasa however, said he was not to blame, insisting Mugabe knew that the party had no money.
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