President Robert Mugabe is expected Thursday to launch community share ownership trusts in Matabeleland North Province amid reports that some of the funds raised under the controversial black economic empowerment program have been allegedly looted in some regions.
Indigenization Ministry advisor Psychology Maziwisa said the trusts running into millions of dollars were set up using funds sourced from mining companies and related entities.
Maziwisa said the president will launch the schemes despite damning reports that some chiefs in the Midlands Province recently used the funds to award themselves sitting allowances of $5,000 each.
The national indigenization board has been urged to tighten accountability procedures in the running of the $40 million trust funds.
Maziwisa tells VOA Studio 7 President Mugabe is spearheading one of the biggest empowerment programs in Africa.
Chief Gilford Nkalakatha Ndiweni said there are high hopes that the program will benefit local people.