ZACC PROBES ZIMPAPERS PENSION FUND CORRUPTION SCANDAL

The Zimbabwe Anti-Corruption Commission is now looking into a serious case of possible corruption and theft at the Zimpapers Pension Fund. This is the fund that is supposed to look after the retirement money of workers at Zimpapers. Reports say the money and properties that belong to the fund were not handled in the right way. There are also claims that some properties were sold in a secret and unfair manner.

The case was taken to ZACC by the pension fund’s trustees. These trustees are the people who are responsible for making sure the fund is managed well and in the interest of workers who are members. They work with a committee that also has board members and top managers of the company. The trustees have a duty to make sure every cent and every asset is protected and used for the benefit of the workers.

This matter has come out not long after the removal of Zimpapers chief executive Pikirayi Deketeke and other senior managers. They were removed under suspicion of corruption and fraud. Deketeke has now been replaced by veteran editor William Chikoto, who will act as the CEO while the company decides on a permanent replacement. The Zimpapers board has also ordered a forensic audit. This means experts will check every transaction and document to see what really happened.

A source from ZACC confirmed that the case was reported on 16 July by trustees who are also employees of Zimpapers. These trustees are working with members of the pension fund committee to give information to the investigators. The investigation is now in progress.

The Zimpapers Pension Fund is meant to give retirement benefits to the company’s workers when they stop working. It is also supposed to make sure workers get proper payouts when they leave the company for any reason. The committee in charge should also make sure employment conditions are fair and relations between management and workers are good.

But according to another source, the way the pension fund was managed has been very poor. Some workers who retired after years of service have been getting very low payouts. There are also cases where the company did not send workers’ contributions to the fund on time. This means workers’ money was not growing as it should have.

One of the biggest issues is the sale of properties owned by the fund. Several properties were sold in ways that raised a lot of questions. In some cases, new boards came in and reversed the sales, but this caused even more problems and confusion. These actions have made it harder for the fund to operate smoothly.

The fund has also lost money because some units of Zimpapers owe it large amounts in unpaid debts. These debts have not been settled for a long time, and this has made the fund’s financial position even weaker.

This case shows again how deep corruption runs in Zimbabwe. It is not just in government ministries but also in big companies like Zimpapers. The victims in this case are the workers who spent years working for the company and trusted that their retirement money was safe. If these claims are true, it means people in positions of power were taking advantage of workers’ savings for their own benefit.

The investigation by ZACC must be done quickly and openly. The workers and the public deserve to know who was responsible and how much was lost. The people who abused their positions should face justice, and the stolen money and properties should be recovered. Without real action, corruption will keep destroying the lives of ordinary Zimbabweans who have already suffered enough.