POSB head of finance told to step down after failing to detect $9.6 million anomaly

POSB general manager in charge of finance Patience Shuro was asked to step down at the expiry of a 6-month renewal the board had offered her after her inital 5-year contract had expired. This follows POSB’s failure to note that it had been prejudiced of well over $8,2 million plus interest by ZimPost. This comes after Zimpost failed to remit the excess of deposits over withdrawals, totalling $8 226 155,65, since 2009. POSB won an arbitration to recover the funds from ZZimpost last year after they discovered the anomaly.

Grant Thornton did the audit but the details are yet to be made public. Ms Shuro’s five-year contract expired but the board decided to renew it by only six months. She then offered to serve her three month notice but the HR committee told her to leave. There is a strong belief among board that as the head of finance, she was supposed to detect the problem early.

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