ZBC caught in a lie as RBZ governor dismisses broadcaster’s claims it has a legacy debt blocking procurement of equipment 

By Anna Chibamu

The Zimbabwe Broadcasting Corporation (ZBC) has been caught in a lie after the Reserve Bank of Zimbabwe (RBZ) governor dismissed its claims it had a legacy debt that was preventing it from procuring equipment or making any payments outside Zimbabwe.

RBZ was giving oral evidence to the Information, Media and Broadcasting Services Parliamentary Committee on the national broadcaster’s alleged legacy debt going back to 2015 until November 2022.

RBZ Governor John Mushayavanhu said ZBC had not acquitted 60 imports but the Central bank had allowed it to procure goods or equipment under the willing buyer and willing seller so it could get forex from financial institutions.

According to Mushayavanhu, the ZBC is now facing investigations for failing to prove it had received any goods worth US$982 000 raising suspicions that funds may have been externalised.

“We, as the Central Bank are not owed any legacy debt by ZBC. The only debt that they owed was some goods that were procured from Iraq and the debt was transferred to RBZ.

“In our books, there is no such except the missing evidence that since 2015, about  60 imports were still unacquitted by the national broadcaster,” Mushayavanhu said.

This is after the Committee chairperson Caston Matewu revealed that ZBC had several times met the Parly committee alleging it was restricted from making any purchases outside the country due to a legacy debt.

Initially, ZBC had paid US$1.3 million for imports but those goods, according to RBZ had not arrived in the country which then reduced the payment figures to US$982 000 to this date.

This was shown by a lack of evidence from both the ZBC’s Bank and ZIMRA’s Bill of Entry import according to RBZ Exchange Control director Farai Masendu.

Masendu said the Bill of Entry Import was evidence that ZIMRA gives to show a product was received into the country.

“ZBC is supposed to supply evidence that they did not receive the product. The bill of entry import is overdue and the system flagged ZBC had not acquitted the amount stated. As it stands, it is as good as the money was externalised,” Masendu said.

“Since January 2015, we have given ZBC an extension to give payment evidence. We have reached a point where we cannot continue to extend the payment period and therefore we just penalise them.

“Our penalty is 1% of the amount that should be acquitted,” said Masendu.

However, at one point, RBZ admitted it was penalising ZBC to the tune of 5%, more than prescribed by law but Masendu said they had resorted back to a 1% penalty.

The Stock Exchange director said the issue had now been sent to the parastatal’s bank and also the National Company lnspectorate to get more information on what happened to the US$982 000 worth of goods that were not acquitted yet the money was released by the bank.