AFC Bank rocked by BAD DEBT crisis as non-performing loans soar to 9.25%
By Marshall Bwanya HARARE — AFC Commercial Bank’s non-performing loans rose to 9.25% at the end of 2025, almost double the recommended banking sector threshold, raising concerns over the lender’s credit risk controls, Auditor-General Vimbai Chikwenhere has found. Chikwenhere, however, issued an unmodified, or clean, opinion on the bank’s financial statements for the year ended December […]
Mutoko RDC leaves roads, bridges off the books, misstates beer levy revenue
By Staff Reporter MUTOKO — Mutoko Rural District Council failed to account for its roads and bridges in its 2024 financial statements and incorrectly recorded beer levy revenue, prompting Auditor-General Vimbai Chikwenhere to issue a qualified audit opinion. Chikwenhere said council recognised beer levy revenue of ZWG221,700 on a cash basis instead of the accrual […]
Murewa RDC omits 128 schools from financial statements
By Staff Reporter HARARE — Murewa Rural District Council failed to account for the finances of 128 schools under its jurisdiction and omitted 97 hectares of council land from its books, prompting Auditor-General Vimbai Chikwenhere to issue a qualified audit opinion for 2024. Chikwenhere said the omissions meant the council’s financial statements did not fully […]
Chegutu fails to bill US$61,000 in adverts, audit exposes financial and water failures
By Staff Reporter HARARE — Chegutu Municipality failed to bill more than US$61,000 in billboard fees, left ZWG29.4 million in deposits unallocated and supplied residents with a water system losing more than half of treated water, Auditor-General Vimbai Chikwenhere has found. Chikwenhere issued a qualified audit opinion on the municipality’s 2024 financial statements, citing multiple departures […]
AG disowns Gweru City accounts over ZWG1.29bn suspense balance
By Victor Fanuel GWERU — Auditor-General Vimbai Chikwenhere has refused to express an opinion on Gweru City Council’s (GCC), 2024 financial statements after uncovering widespread accounting failures, missing records and unexplained financial variances, including an unresolved ZWG1.29 billion suspense balance. The disclaimer of opinion — the most severe audit finding — means auditors could not […]
Auditor-General catches Zaka RDC with 219 ‘missing’ stands in books, flags wider financial failures
By Victor Fanuel HARARE — Zaka Rural District Council failed to record 219 residential stands in its financial statements, one of several irregularities uncovered by the Auditor-General during audits of its 2023 and 2024 accounts. Both audits also exposed accounting breaches, unrecorded public assets, questionable asset recognition, weak debt management and environmental violations, resulting in qualified […]