HARARE — Zimbabwe National Road Administration (ZINARA) board members gave themselves exemptions from paying toll and vehicle licence fees without the approval of the parent ministry, in violation of the Public Entities and Corporate Governance Act.
The audit by the Office of the Auditor General (OAG) shows that the board resolved to grant each member exemption for two personal vehicles.
The law requires such benefits to be cleared by the responsible minister and, in some cases, the president.
In response, ZINARA management said a resolution was submitted to the Corporate Governance Unit and the ministry of transport “as required by law.”
However, the OAG report noted no approval was granted, rendering the exemptions unlawful.
The Public Entities and Corporate Governance Act [Chapter 10:31] stipulates that no board member may receive benefits without ministerial clearance.
Section 14(1) states: “The Minister, with the approval of the Minister responsible for finance, and after consultation with the line Minister concerned, may by notice published in the Gazette specify the amount that may be received, by way of remuneration, allowances and other benefits, by members of the board of any public entity.”
The Act goes further in Section 14(3), which provides: “Notwithstanding any other law, where a notice has been published in terms of subsection (1) fixing an amount to be received by members of any board, no such members shall be paid or given any remuneration, allowance or benefit in excess of the amount specified in the notice.”
In addition, Section 14(8) reinforces Treasury oversight, stating: “This section shall not limit the obligation of an accounting officer or member of the Civil Service employed in a line Ministry to comply with section 51A (‘Separation of roles of appropriate Ministries and public entities’) of the Public Finance Management Act [Chapter 22:19] that is, to seek clearance from the Treasury before approving the remuneration or allowance of any member of a public entity.”
Leading legal think tank Veritas media officer economic governance, Paidamoyo Muzulu, said although the Public Entities and Corporate Governance Act is meant to protect public funds and prevent abuse of office there is no political will to implement its provisions.
“The Public Entities and Corporate Governance Act is a good piece of legislation for good corporate governance in Zimbabwe.
“However, having a law and implementing it are two different things. Zimbabwe still experiences poor leadership in state owned enterprises despite the Act,” said Muzulu.
“There is still a lot of corruption, corporate sleaze and abuse of public funds as revealed by the Auditor General reports.
“There seems to be no political will among those in government to see to it the full implementation and compliance of the law,” added Muzulu.
These irregular exemptions flagged by the OAG add to a string of financial governance failures at the road authority.
ZINARA has been embroiled in multiple scandals over the years involving misuse of tollgate revenue, fraudulent contracts, and tender irregularities.
In 2019, 30 cashiers were dismissed for under-banking and abusing exemptions, leading to substantial, though unspecified, losses.
In 2022, a syndicate of 16 employees at the Gweru-Shurugwi tollgate allegedly defrauded the authority of US$9.8 million through fictitious transactions.
In August 2023, ZINARA suffered a loss of US$150,000 in a tollgate scam at the Shamva tollgate.
Three ZINARA employees,Nyaradzo Gusha, Flavian Kundishora, and Tanaka Theresa Magaisa, together with Patson Tavengwa, a technician from 10-10 Technologies, were accused of fraud and money laundering after allegedly installing an override system that diverted toll fees for personal gain.
This fraudulent activity, which took place on July 19, 2023, was uncovered the following day by ZINARA’s risk and control department through CCTV footage.
The OAG’s report also flagged unprocedural alterations of tollgate cash records.
At four tollgates, officers made changes during cash handovers without signing, creating room for fraud.
“The Administration’s standard operating procedures at licensing offices and tollgates did not provide guidance on the procedures to be followed when alterations are done during the recording of monetary transactions.
“Officers at four (4) tollgates were making several alterations during the cash handover-takeover without counter-signing for such alterations.
“This was contrary to best practice in which any alterations to transactions should be signed for by the person responsible for altering,” reads the OAG report.
The OAG report also raised alarm over a ZWL$190.2 billion deficit in 2023, driven largely by exchange rate losses on a foreign loan.
“I draw your attention to the fact that the Group incurred a deficit of ZWL$190.2 billion (2022: ZWL$50.4 billion) during the year ended 31 December 2023.
“As of that date, the Group incurred significant losses mainly due to the exchange rate losses arising from the translation of a foreign loan balance to Zimbabwean dollars.
“This condition indicates that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue growing,” reads the report.
Another gap lies in enforcement of axle-load regulations.
The OAG audit report found that weighbridges in three provinces were not working, allowing trucks to pass without paying overload fees.
Yet the law requires all overloaded vehicles to pay charges under the Road Traffic (Axle-loading) Regulations, 1993.
The OAG recommended urgent repair and completion of weighbridges to plug revenue losses.
ZINARA, established to collect road user fees and disburse funds for road maintenance, has long been criticised for weak controls and poor accountability.
The latest findings confirm persistent governance problems.
Info News
High-Yield Savings Accounts: Where to Invest Safely and Grow Your Money
If you’re looking for a safe place to grow your money without taking big risks, a high-yield savings account is one of the smartest options available today. Unlike traditional savings accounts that offer very low interest, high-yield accounts provide better returns while still keeping your money easily accessible. For many people, they strike the perfect balance between security and growth.
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In today’s uncertain economy, more individuals are moving their money into high-interest savings accounts to protect their cash while earning passive income. Whether you’re building an emergency fund, saving for a home, or just trying to make your money work harder, understanding how these accounts work can help you make better financial decisions.
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What Is a High-Yield Savings Account?
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A high-yield savings account is a type of bank account that offers a higher interest rate compared to standard savings accounts. These accounts are typically offered by online banks, which can afford to pay better rates because they have lower operating costs than traditional brick-and-mortar banks.
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The interest you earn is usually expressed as APY (annual percentage yield), which shows how much your money can grow over time. Even a small difference in APY can significantly impact your savings in the long run.
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Why More People Are Choosing High-Yield Savings Accounts
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One of the biggest reasons people switch to high-yield savings accounts is simple: better returns without added risk. Unlike stocks or crypto investments, your money is not exposed to market volatility.
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Another major benefit is liquidity. You can access your money when you need it, making these accounts ideal for emergency funds or short-term savings goals.
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There’s also peace of mind. Most high-yield savings accounts in the U.S. are insured by the Federal Deposit Insurance Corporation (FDIC), which protects your deposits up to certain limits. This means your money remains safe even if the bank faces issues.
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How Much Can You Earn?
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The amount you earn depends on the interest rate and how much you deposit. Compared to traditional accounts that may offer almost no interest, high-yield accounts can provide significantly better returns over time.
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For example, keeping a steady balance in a high-yield account allows your money to grow through compound interest—meaning you earn interest not just on your initial deposit, but also on the interest you’ve already earned.
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While it won’t make you rich overnight, it’s one of the safest ways to grow your savings consistently.
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What to Look for in a High-Yield Savings Account
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Not all accounts are the same, so it’s important to compare your options carefully. Here are a few key things to consider:
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1. Interest Rate (APY)
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Look for competitive rates, but also check if they are variable or fixed.
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2. Fees
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Some accounts charge monthly maintenance fees that can eat into your earnings. Ideally, choose a no-fee account.
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3. Minimum Balance Requirements
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Some banks require a minimum deposit to open or maintain the account.
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4. Accessibility
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Make sure the account allows easy transfers and withdrawals when needed.
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5. Bank Reputation
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Choose a trusted bank with strong customer reviews and reliable service.
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High-Yield Savings vs Other Investment Options
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High-yield savings accounts are often compared to other ways of growing money. While they don’t offer the high returns of stocks or real estate, they provide unmatched safety.
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Stocks: Higher returns but higher risk
rnCrypto: Very volatile and unpredictable
rnReal Estate: Long-term growth but requires large capital
rnSavings Accounts: Low risk, steady growth
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For many people, a high-yield savings account is a foundation—something you use alongside other investments.
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Best Uses for a High-Yield Savings Account
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These accounts are ideal for specific financial goals:
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Emergency funds
rnShort-term savings (vacations, large purchases)
rnDown payment for a home
rnBackup cash for unexpected expenses
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Because your money is safe and accessible, it’s perfect for situations where you don’t want to take risks.
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Common Mistakes to Avoid
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One common mistake is leaving money in a low-interest account without realizing better options exist. Over time, this can cost you a significant amount in lost earnings.
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Another mistake is chasing the highest rate without checking fees or conditions. A slightly lower rate with no fees can sometimes be a better deal.
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Also, avoid treating a savings account like a checking account. Frequent withdrawals can limit your growth and may come with restrictions.
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How to Get Started
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Opening a high-yield savings account is simple. Most banks allow you to apply online in just a few minutes. You’ll need basic information such as your ID, Social Security number, and an initial deposit.
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Once your account is set up, consider automating transfers from your checking account. This helps you build your savings consistently without thinking about it.
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Final Thoughts
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A high-yield savings account is one of the easiest and safest ways to grow your money. It won’t replace high-risk investments, but it plays an important role in any smart financial strategy.
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By choosing the right account, staying consistent with your savings, and avoiding unnecessary fees, you can build a strong financial foundation over time. In a world full of risky options, sometimes the smartest move is the one that protects your money while still helping it grow.
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Financial professionals recommend using FDIC-insured banks, trusted financial institutions, and certified financial planning strategies when choosing savings accounts to ensure safety, reliability, and steady long-term growth.
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Product Liability Class Action Lawsuit: Defective Product Claims
product liability class action, defective product lawsuit, product defect lawyer, dangerous product class action, consumer product lawsuit, recall lawsuit attorney
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Product Liability Class Action Lawsuit: Defective Product Claims
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When a product fails, one customer may ask for a refund. But when the same defect affects thousands of customers, a product liability class action lawsuit may follow.
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These cases may involve vehicles, appliances, electronics, medical devices, household products, baby products, food, cosmetics, tools, or other consumer goods.
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A product liability class action can help consumers seek compensation, repairs, replacements, refunds, or safety changes.
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What Is a Product Liability Class Action?
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A product liability class action is a lawsuit involving a product that allegedly has a common defect affecting many people.
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The defect may involve:
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Design flaw
rnManufacturing defect
rnFailure to warn
rnFalse advertising
rnPremature failure
rnSafety hazard
rnWarranty violation
rnHidden defect
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The key issue is whether the defect is common across the class.
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Common Product Defect Examples
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Product class actions may involve:
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Cars with defective parts
rnAppliances that fail early
rnElectronics with battery problems
rnContaminated products
rnFaulty medical devices
rnUnsafe children’s products
rnDefective home equipment
rnMisleading product claims
rnWarranty coverage disputes
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Not every recall creates a lawsuit, and not every lawsuit involves a recall.
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What Evidence Should Consumers Keep?
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If you believe a product is defective, save:
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Proof of purchase
rnReceipts
rnWarranty documents
rnPhotos
rnVideos
rnRepair records
rnCustomer service emails
rnProduct packaging
rnSerial numbers
rnModel numbers
rnRecall notices
rnMedical bills if injured
rnReplacement costs
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Evidence can help show when you bought the product, what happened, and what damages you experienced.
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What Can a Product Class Action Settlement Provide?
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Depending on the case, settlement benefits may include:
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Cash refunds
rnRepairs
rnReplacement products
rnExtended warranties
rnReimbursement for repairs
rnSafety inspections
rnRecall support
rnProduct credits
rnWarning label changes
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The settlement terms depend on the case.
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Defective Product Injury Claims
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Some product cases involve only economic loss, such as paying for a product that failed early.
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Others involve physical injury. Injury claims may be more individualized and may require separate legal review.
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If you were seriously injured by a product, speak with a product liability attorney before signing a class action release.
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Warranty Claims
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Many product class actions involve warranties.
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A company may be accused of:
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Refusing warranty coverage
rnConcealing known defects
rnSelling products with short useful life
rnMisrepresenting durability
rnCharging for repairs that should be covered
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Warranty law can vary by state.
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Product Recalls and Lawsuits
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A recall can be important evidence, but it does not automatically mean every consumer has the same legal claim.
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If a product is recalled, follow official safety instructions. Keep all recall documents.
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Questions to Ask a Lawyer
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Ask:
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Is the defect common?
rnAre other consumers affected?
rnIs there a recall?
rnWhat law applies?
rnDo I need repair records?
rnShould I keep the product?
rnCould I have an individual injury claim?
rnWhat rights would I give up in a settlement?
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Final Thoughts
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A product liability class action lawsuit may help consumers recover money or force companies to fix widespread defects.
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If a product failed, caused damage, or did not perform as advertised, keep records and check whether others experienced the same issue.
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A pattern of harm is what can turn a product complaint into a class action case.
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