News / National
Zimpapers pension fund under probe
05 Aug 2025 at 12:37hrs | Views
The Zimbabwe Anti-Corruption Commission (ZACC) has launched an investigation into the Zimpapers Pension Fund amid allegations of mismanagement of employees' contributions and questionable sales of company properties, sources have revealed.
The probe follows a formal complaint lodged by the pension fund's trustees-responsible for overseeing its management and ensuring the fund operates in the best interests of its members and beneficiaries. These trustees, along with committee members drawn from board executives, hold fiduciary duties over the pension scheme.
The investigation emerges shortly after the controversial removal of Zimpapers chief executive Pikirayi Deketeke and several senior executives, whose departures have been shrouded in allegations of corruption and financial impropriety. Deketeke has since been replaced in an acting capacity by veteran editor William Chikoto.
A forensic audit commissioned by the Zimpapers board is currently underway to uncover the full extent of the alleged irregularities.
A ZACC insider told The NewsHawks that the case was reported on 16 July 2025 by employees serving as trustees, working in collaboration with committee members responsible for running the pension fund.
"The trustees and committee, which includes board members and company executives, reported concerns regarding mismanagement, and the matter is now under active investigation," the source said.
The Zimpapers Pension Fund is intended to provide retirement benefits to company employees and is governed by a committee tasked with ensuring fair compensation, reviewing employment terms, and maintaining positive industrial relations.
Another insider elaborated on the issues under scrutiny, highlighting poor management of pension contributions, delayed remittances, and unsatisfactory payouts to retirees or former employees after years of service.
"There are also serious concerns about the opaque sale of properties owned by the pension fund. Several assets were sold under controversial circumstances, with some sales later reversed by incoming boards, adding to the complexity and controversy," the source explained.
The fund's financial health has also reportedly been weakened by outstanding debts owed by various Zimpapers subsidiaries.
As the investigation proceeds, the outcome could have far-reaching implications for governance and accountability within Zimbabwe's media sector and pension administration.
The probe follows a formal complaint lodged by the pension fund's trustees-responsible for overseeing its management and ensuring the fund operates in the best interests of its members and beneficiaries. These trustees, along with committee members drawn from board executives, hold fiduciary duties over the pension scheme.
The investigation emerges shortly after the controversial removal of Zimpapers chief executive Pikirayi Deketeke and several senior executives, whose departures have been shrouded in allegations of corruption and financial impropriety. Deketeke has since been replaced in an acting capacity by veteran editor William Chikoto.
A forensic audit commissioned by the Zimpapers board is currently underway to uncover the full extent of the alleged irregularities.
A ZACC insider told The NewsHawks that the case was reported on 16 July 2025 by employees serving as trustees, working in collaboration with committee members responsible for running the pension fund.
The Zimpapers Pension Fund is intended to provide retirement benefits to company employees and is governed by a committee tasked with ensuring fair compensation, reviewing employment terms, and maintaining positive industrial relations.
Another insider elaborated on the issues under scrutiny, highlighting poor management of pension contributions, delayed remittances, and unsatisfactory payouts to retirees or former employees after years of service.
"There are also serious concerns about the opaque sale of properties owned by the pension fund. Several assets were sold under controversial circumstances, with some sales later reversed by incoming boards, adding to the complexity and controversy," the source explained.
The fund's financial health has also reportedly been weakened by outstanding debts owed by various Zimpapers subsidiaries.
As the investigation proceeds, the outcome could have far-reaching implications for governance and accountability within Zimbabwe's media sector and pension administration.
Source - businessdaily.co.zw
