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Mr Nyatsine said, “The penalty of US million that Zimra had imposed was set aside by the High Court.

We imported base stations in exactly the same manner that our competitors did.

I can assure you that the board will act on all issues raised by the forensic auditors and we actually have already started doing so.

“But some cases are more complex than others, requiring more time and more technical advice and investigations.

The audit report shows that on October 23, 2009, Econet Wireless Zimbabwe bought a PDH Microwave from Econet Capital for US 398 425.

Auditors said the equipment was actually valued at US

Mr Nyatsine said, “The penalty of US$47 million that Zimra had imposed was set aside by the High Court.We imported base stations in exactly the same manner that our competitors did.I can assure you that the board will act on all issues raised by the forensic auditors and we actually have already started doing so.

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Mr Nyatsine said, “The penalty of US$47 million that Zimra had imposed was set aside by the High Court.

We imported base stations in exactly the same manner that our competitors did.

I can assure you that the board will act on all issues raised by the forensic auditors and we actually have already started doing so.

“But some cases are more complex than others, requiring more time and more technical advice and investigations.

The audit report shows that on October 23, 2009, Econet Wireless Zimbabwe bought a PDH Microwave from Econet Capital for US$2 398 425.

Auditors said the equipment was actually valued at US$1 343 231 by ZTE, implying potential externalisation of US$1 055 194 via that transaction.

343 231 by ZTE, implying potential externalisation of US

Mr Nyatsine said, “The penalty of US$47 million that Zimra had imposed was set aside by the High Court.We imported base stations in exactly the same manner that our competitors did.I can assure you that the board will act on all issues raised by the forensic auditors and we actually have already started doing so.

||

Mr Nyatsine said, “The penalty of US$47 million that Zimra had imposed was set aside by the High Court.

We imported base stations in exactly the same manner that our competitors did.

I can assure you that the board will act on all issues raised by the forensic auditors and we actually have already started doing so.

“But some cases are more complex than others, requiring more time and more technical advice and investigations.

The audit report shows that on October 23, 2009, Econet Wireless Zimbabwe bought a PDH Microwave from Econet Capital for US$2 398 425.

Auditors said the equipment was actually valued at US$1 343 231 by ZTE, implying potential externalisation of US$1 055 194 via that transaction.

055 194 via that transaction.

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In the externalisation, it is alleged that Econet would overstate the prices of components it was buying from its sister company in Mauritius, thereby allowing it to move millions of US dollars out of Zimbabwe.

Auditors stumbled upon the scandal as Mr Matambanadzo battled to get Zimra to pay him for providing them with information on Econet’s alleged shenanigans.

Mr Matambadzo’s lawyers, C Nhemwa and Associates, wrote to suspended Zimra Commissioner-General Mr Geshom Pasi on February 7, 2014 raising the allegations but the matter was not pursued.

According to the report, Government could have lost about US0 million in revenue between 20 after Econet allegedly imported dutiable goods without paying taxes.

To promote ICTs, Government allowed mobile network operators to import base stations duty-free.

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