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Zimbabwe recovers $850 million illegally extracted

Staff Writer | July 4, 2018
Zimbabwe recovered $850 million out of the 41.4 billion illegally smuggled out of the country by corporations and individuals at the end of a three-month moratorium offered by President Emmerson Mnangagwa, according to reports.
Emmerson Mnangagwa
Africa   Mnangagwa noted that all stakeholders must play their role
Press reports indicate that the data were offered by the president to the 31st General Assembly of Heads of State and Government of the African Union (AU) on Sunday in a debate on the fight against corruption in Africa.

According to the versions, Mnangagwa noted that all stakeholders, including government, the private sector and civil society, must play their role in curbing corruption.

He also said that since taking office last November, he has offered a three-month moratorium on the return of illegally extracted money to the country as part of his government's priority in the fight against corruption, which also included the creation of special courts on the issue and the declaration of its assets by cabinet members.

The governor reminded that the Zimbabwean authorities published a list of 1,844 entities and individuals from the mining, agriculture and industry sectors that have exported funds abroad.

In his opinion, the most effective way to combat this scourge is to instill values against it in African societies, at a time when the corruption networks are more sophisticated.

For that reason, he added, it is necessary to share information among the members of the African Union and its agencies to enforce the laws and institutions related to the issue, on the continent and beyond.

The President of Zimbabwe stressed the analysis of the issue in this organization is vital in a rich region inhabited by poor people and shows that its leaders are determined to put an end to an illness which affects the continent. Corruption, he underlined, is the enemy of development and progress.

The African Union Summit was held under the theme 'Winning the fight against corruption, a sustainable way for Africa's transformation'.

During the discussions, several African leaders presented the measures they are implementing in the fight against this scourge in their respective nations.

South African President Cyril Ramaphosa stated 'we need to work consistently to eradicate this problem and achieve development...if corruption is not tackled it will continue to impede the achievement of our efforts to improve our peoples' lives.

'Corruption destroys life and is a challenge not only for Africa, but for the whole world,' he added.

Ghanaian President Nana Akufo also pointed out that every time his government wants to sue high-profile figures for acts of corruption, it is accused of a witch-hunt and announced the measures his government is taking to tackle the problem.