The United States Embassy has revealed a number of massive corrupt activities committed by President Emmerson Mnangagwa’s administration, deterring interested investors due to economic uncertainties and weak rule of law.
In a number of posts made today, the Embassy said government awarded Sakunda Holdings a tender which had been won by an American firm to develop a top Quality power plant.
“American firm won a tender and was ready to provide top-quality construction of Dema Power Plant in 2016 but the contract was given to Sakunda who never bid on the tender,” they said.
The Embassy revealed that Zimbabwe is currently losing billions due to corruption as investors are seeking for a conducive business environment.
“Zimbabwe loses up to US$1 billion per year due to corruption and it deters foreign direct investment.
U.S companies decider where and when to invest based on a conducive and lucrative business business environment,” said the Embassy.
They said “Unauthorised spending and no results: $840 million for Command Agriculture program, $51 million to lease three planes never used and the $80 million to recapitalize the state owned Zimbabwe Consolidated Diamond Company” revealed the Embassy.