PSMAS Loses US$60 Million In Contributors Fund

By Staff Reporter

In a shocking revelation, a recent forensic audit conducted on the Premier Service Medical Aid Society (PSMAS) and its affiliates has unearthed massive corruption, leading to the loss of approximately US$60 million (Z$60 billion circa at the current interbank rate) in contributors’ funds.

The audit, conducted in the public interest, exposed a web of theft, mismanagement, and collusion between the PSMAS board, management, unscrupulous suppliers, and health service providers.

The findings of the forensic audit were announced in a statement released by the government, which expressed grave concern over the extent of corruption and its impact on the delivery of healthcare services to PSMAS contributors.

“A recent forensic audit conducted on PSMAS and its affiliates in the public interest revealed that between 2018 and July 2022, the organisation lost around US$60 million (Z$60 billion circa at the current interbank rate) in contributors funds through theft and mismanagement by the board and management at PSMAS, its affiliates, as well as, from some unscrupulous suppliers and health service providers,” said the statement.

According to the statement, some unscrupulous suppliers and health service providers were found to be engaging in malpractices with the connivance of the PSMAS board, management, and its affiliates raising serious questions about the integrity and accountability of the organization, which is entrusted with safeguarding the health interests of workers, pensioners, and contributors.

In response to the findings, the government of Zimbabwe, acting as the regulator, has vowed to take bold steps to address the rampant corruption and mismanagement at PSMAS and its affiliates.

“In this regard, the Government of Zimbabwe, as the regulator, will take decisive measures against these organisations and use all lawful means to bring all culprits to book. All Medical Aid Societies, Health Service providers and Suppliers involved in these malpractices must be brought to account. It is the duty of Government to ensure accountability of all health institutions and to safeguard the health and finances of all its citizens and resident,” read the statement

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button