News / National
Mnangagwa names, shames looters
20 Mar 2018 at 01:48hrs | Views
President Mnangagwa yesterday named and shamed corporates and individuals that failed to return nearly $1 billion they externalised in the past years, despite Government giving them a three-month amnesty.
The moratorium, which began on December 1 last year, expired last Friday.
This saw President Mnangagwa publishing a list with 1 844 externalisers and most of the looters are in mining, agriculture, manufacturing and cross border freight.
From $1,4 billion that was externalised, $591,1 million was recovered under the amnesty, while $826,5 million is outstanding.
The money was looted through non-repatriation of export proceeds, payment of imports not received in Zimbabwe and funds banked in foreign banks in cash or under spurious circumstances.
The moratorium, which began on December 1 last year, expired last Friday.
From $1,4 billion that was externalised, $591,1 million was recovered under the amnesty, while $826,5 million is outstanding.
The money was looted through non-repatriation of export proceeds, payment of imports not received in Zimbabwe and funds banked in foreign banks in cash or under spurious circumstances.
Source - the herald
