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Zacc probes 22 cases of unexplained wealth
15 Jun 2022 at 02:30hrs | Views
THE Zimbabwe Anti-Corruption Commission (ZACC) is investigating 22 cases of unexplained wealth involving externalisation of more than US$22 million.
In a statement, ZACC said it was closely working with regional counterparts to follow up on ill-gotten wealth stashed outside the country.
This comes almost five years after the expiration of a three- month moratorium issued by President Mnangagwa for individuals and corporates who had externalised money to return the stash with no questions asked.
"Zacc has received at least 22 reports and filed eight cases of unexplained wealth orders involving more than US$22m to the NPA. The Commission is working with regional counterparts to follow up on ill-gotten wealth stashed outside the country," read a statement on the Zacc official twitter account.
Commission spokesperson Mr John Makamure said names of the individuals can not be made public at the moment.
"We cannot divulge the names as the cases are still under investigation," said Mr Makamure.
During the three months moratorium from December 2017 to February 2018, $591,1 million was recovered from the $1,4 billion which was externalised leaving an outstanding figure of $826,5 million.
President Mnangagwa said those who failed to take advantage of the amnesty will face prosecution and in March 2018, he named and shamed corporates and individuals who had ignored the olive branch. The list had 1 844 externalisers with most of the looters in mining, agriculture, manufacturing and cross-border freight.
About 157 individuals and companies externalised $464 204 171, banking the cash in foreign banks while others made bogus transactions with most of the money going to different countries.
At least 1 403 companies looted a combined $124 846 957 through payment of goods that were never received in Zimbabwe.
Meanwhile, Zacc chairperson Justice Loice Matanda-Moyo and the Reserve Bank of Zimbabwe Governor John Mangudya are attending a high-level conference on the promotion of good governance and fight against corruption, organised by the African Union and the International Monetary Fund (IMF) that kicked off in Botswana on Monday. Justice Matanda-Moyo is attending virtually while Mr Mangudya is at the conference.
The conference is in response to calls from within Africa to advance governance reforms and ramp up the fight against corruption to make African economies more resilient to shocks. It comes at a time when the African Union Advisory Board against Corruption (AUABC) and the IMF have given governance and anti-corruption a higher priority in their work. Zimbabwe will on July 11 join other African nations in celebrating the sixth edition of the AUABC's Anti-Corruption day.
In a statement, ZACC said it was closely working with regional counterparts to follow up on ill-gotten wealth stashed outside the country.
This comes almost five years after the expiration of a three- month moratorium issued by President Mnangagwa for individuals and corporates who had externalised money to return the stash with no questions asked.
"Zacc has received at least 22 reports and filed eight cases of unexplained wealth orders involving more than US$22m to the NPA. The Commission is working with regional counterparts to follow up on ill-gotten wealth stashed outside the country," read a statement on the Zacc official twitter account.
Commission spokesperson Mr John Makamure said names of the individuals can not be made public at the moment.
"We cannot divulge the names as the cases are still under investigation," said Mr Makamure.
During the three months moratorium from December 2017 to February 2018, $591,1 million was recovered from the $1,4 billion which was externalised leaving an outstanding figure of $826,5 million.
President Mnangagwa said those who failed to take advantage of the amnesty will face prosecution and in March 2018, he named and shamed corporates and individuals who had ignored the olive branch. The list had 1 844 externalisers with most of the looters in mining, agriculture, manufacturing and cross-border freight.
About 157 individuals and companies externalised $464 204 171, banking the cash in foreign banks while others made bogus transactions with most of the money going to different countries.
At least 1 403 companies looted a combined $124 846 957 through payment of goods that were never received in Zimbabwe.
Meanwhile, Zacc chairperson Justice Loice Matanda-Moyo and the Reserve Bank of Zimbabwe Governor John Mangudya are attending a high-level conference on the promotion of good governance and fight against corruption, organised by the African Union and the International Monetary Fund (IMF) that kicked off in Botswana on Monday. Justice Matanda-Moyo is attending virtually while Mr Mangudya is at the conference.
The conference is in response to calls from within Africa to advance governance reforms and ramp up the fight against corruption to make African economies more resilient to shocks. It comes at a time when the African Union Advisory Board against Corruption (AUABC) and the IMF have given governance and anti-corruption a higher priority in their work. Zimbabwe will on July 11 join other African nations in celebrating the sixth edition of the AUABC's Anti-Corruption day.
Source - The Chronicle
