ED clears way for Mutapa to loot state entities

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…Mnangagwa in another controversial move

In yet another controversial move, President Mnangagwa has published an Extraordinary Government Gazette exempting the newly renamed sovereign wealth fund from complying with the Procurement and Disposal of Public Assets Act. Public procurement is a major arena of corruption.

This brings into question the government’s accountability over the Mutapa Investment Fund and how public money will be protected from looters. Ownership of 20 state-owned companies has already been transferred to Mutapa.

They include National Railways, Air Zimbabwe, NetOne, TelOne.

The Procurement Act is important in safeguarding public finances and assets from abuse. It is meant to ensure that public procurement and the disposal of public assets are effected in a manner that is transparent, fair, honest, cost-effective and competitive.