Africa

Zimbabwe: President Mnangagwa Going After “Illegally Externalized” Assets/Funds

Harare, Zimbabwe – The newly installed President of the southern African nation of Zimbabwe’s new president is moving quickly to address corruption and the return of money taken out of the country by various individuals and some companies.

Former Zim Vice President Emmerson Mnangagwa

Zimbabwean President Emmerson Mnangagwa

A statement issued on Tuesday in the capital Harare quotes President Emmerson Mnangagwa as saying,”The government of Zimbabwe is gazetting a three-month moratorium within which those involved in the malpractice can bring back the funds and assets, with no questions being asked or charges preferred against them.”

The new Zimbabwean leader warned that “Upon expiry of the three-month window, the government will proceed to effect arrest of all those who would not have complied with this directive and will ensure that they are prosecuted in terms of the country’s laws.”

Mr. Mnangagwa who referred to the stolen funds as “illegally externalized” said the operation launched to recover the funds disclosed a huge amount and added that, “Such malpractices constitute a very serious economic crime against the people of Zimbabwe which the government of Zimbabwe will never condone.”

The 3-month amnesty period begins December 1.

Zimbabwe

Map of Zimbabwe

Zimbabwe’s economy is near collapse due to sanctions and liquidity issues with banking institutions under former President Robert Mugabe.

President Mnangagwa is also moving to consolidate his power with the dismissal of the cabinet of Mugabe. No date has been set for the announcement of his new cabinet officials.

West African Journal Magazine

Categories: Africa, Corruption, Economic