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Africa Moyo Property Reporter
THE value of the National Social Security Authority’s 529 hectares of land in Chegutu, which had reportedly gone “missing” from its record books, has sky-rocketed to almost $15 million in the last 14 years, officials have said.

NSSA acquired the land in 2003 for $3,4 million, indicating that while the land was missing for some time under obscure circumstances, it still represents some good piece of business for the company.

Auditor General Mrs Mildred Chiri’s report on State Enterprises and Parastatals for the financial year ended December 31, 2016 indicates that the land had been written off from NSSA’s books under unclear circumstances, with speculation rife that some officials were targeting it.

However, NSSA executives led by board chairman Mr Robin Vela, have since travelled to Chegutu and “identified” the land.

Mr Vela recently told The Herald Property that it was “pleasing” to note that the Chegutu land is now worth a mouth-watering $15 million.

“It is worth noting that NSSA management was already in the process of investigating the existence and ownership of this land with the Chegutu Town Council well before the audit had started and can confirm, following further investigations involving the relevant transacting parties at the time, that the land’s existence has been identified and confirmed, and that the authority is comfortable that its title in respect of the land will be restored in due course.

“It is pleasing to note that the land in question is now worth at least $15 million against the purchase price of $3,4 million,” said Mr Vela.

He said the land was reported as “disappeared” because of a “write down of land whose ownership records could not be confirmed by the Chegutu Town Council at the time of the authority’s 2016 annual financial audit.”

The land, known as Hintonville Farm, was part of the NSSA’s land banks earmarked for future low-cost housing projects.

No developments had been made on the land ever since it went missing.

NSSA has since met with the Chegutu Municipality and thrashed an agreement over the land, which is expected to be restored to the Authority with “appropriate legal title given in the fullness of time”.

Auditor General Mrs Chiri’s report says: “There was no evidence of a written handover takeover between new executives and their predecessors. Handover takeover should have been documented and agreed between the concerned officers.

“As an example, land in Chegutu, Hintonville Extension valued at $3 419 000 was written off in the year ended December 31, 2016 as the authority could not locate the land.