Latest News Editor's Choice

News / Local

Zanu-PF survives on donations

by Staff reporter
06 Nov 2022 at 12:00hrs | Views
Zanu-PF has been mainly surviving on donations, with little contributions from membership fees and subscriptions as well as government grants and investments, a central committee report presented at the party's 7th congress in Harare last week reveals.

The financial record shows that Zanu-PF had income totalling ZW$1 606 130 701 and US$6 509 451 in 2022. Of the local currency component, ZW$1 222 300 000 was attributed to donations, while membership and subscriptions contributed ZW$17 946 201.

The report shows that government grants contributed ZW$350 150 000, while investments contributed ZW$15 734 500 to the coffers.

Of the US$6.5 million raised by the party, a total of US$6 462 500 was donated by individuals and corporates, with only US$46 951 coming from subscriptions.

The party failed to reach its fundraising targets in mobilising funds for its national programmes that include: the party's wage bills, youth conference, women's conference, war veterans conference, congress and construction of the Herbert Chitepo School of Ideology premises in Harare's central business district.

In July 2021, Zanu-PF's department of finance launched a fundraising committee chaired by Philip Chiyangwa.

The committee was tasked with raising a minimum of US$140 million, and provinces were requested to set up six-member committees that would raise a minimum of US$14 million each.

 Other members of the Zanu-PF fundraising committee are gold magnate Scott Sakupwanya, Everisto Mudhikwa, Zodwa Mkandla, Tafadzwa Musarara and Nkosana Mkandla.

The party also had total expenditure of ZW$1 805 058 326 and US$4 872 708, with staff salaries gobbling up ZW$437 517 209 and US$890 000.

Commissariat programmes, Chitepo School of Ideology and transport welfare were some of the major expenses which spent ZW$514 769 890, ZW$143 000 200 and ZW$260 675 674. The school of ideology spent US$7 400 while transport and welfare cost US$498 223, with the money being used for training and workshops.

 The women's league used ZW$11 871 500 and US$35 760 for its programmes during the year. To support the 7th women's league conference held this year, ZW$24 689 146 and US$996 400 was spent.

The inaugural war veterans league conference was also another major expense, costing US$1 063 539 in foreign currency, with no local currency expenditure.

The party's wage bill for 2022 amounted to ZW$437 557 209 and US$890 000, after a 20% salary increase to junior staff members.

Source - thenewshawks