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Mnangagwa exempts 21 entities from scrutiny

by Staff reporter
09 Feb 2024 at 06:58hrs | Views
President Emmerson Mnangagwa has exempted  21 public entities from scrutiny in procurement and disposal of assets.

The Reserve Bank of Zimbabwe, AFC Commercial Bank, Infrastructure Development Bank of Zimbabwe, TelOne and Kuvimba Mining House, are among the exempted firms listed in General Notice 164B of 2024.

Last year, Mnangagwa gazetted Statutory Instrument 156 of 2023 — a piece of legislation that changed the name of the Sovereign Wealth Fund (SWF) to Mutapa Investment Fund, bringing together several State-owned enterprises under one bracket.

Initially, these firms were exempted from the Public Procurement and Disposal of Public Assets Act which caused an outcry.

With the new general notice, selected firms under the fund have been re-included on the exemptions list along with new ones.

The Public Procurement and Disposal of Public Assets Act aims to ensure transparency, accountability and efficiency in public sector transactions.

Companies exempted are Aurex (Private) Limited, Bindura Nickel Corporation Limited, Fidelity Gold Refinery (Private) Limited, Freda Rebecca Gold Mine Limited, Great Dyke Investments (Private) Limited and HomeLink (Private) Limited.

Jena Mines (Private) Limited, National Venture Company (Private) Limited, Printing and Minting Company of Zimbabwe (Private) Limited, ResZim Investments (Private) Limited and Sandawana Mines (Private) Limited were also shielded.

Shamva Mining Company (Private) Limited, The People's Own Savings Bank of Zimbabwe established by the People's Own Savings Bank of Zimbabwe Acta, Trojan Nickel Mine Limited and Zimbabwe Alloys Limited are also exempted.

Source - newsday