Harare - Out of $1.3 billion siphoned illegally out of Zimbabwe, only $250 million has been repatriated to the country, after the expiry of...
- Advertisement -
Harare - Out of $1.3 billion siphoned illegally out of Zimbabwe, only $250 million has been repatriated to the country, after the expiry of the amnesty extended by the President Emmerson Mnangagwa expired on 28 February.
Originally, offenders were given three months to return the loot - but the president has since extended the grace period with another 2 weeks, after which he will name the unrepentant culprits on March 19.
Out of the 1 166 cases, only 105 offenders have complied within the time frame, leaving the bulk of the money still locked in offshore accounts.
 |
| Cash Siphoned Outside Zimbabwe Reached $1.3 Billion |
"The Reserve Bank has requested for additional time to validate and finalise the Amnesty process before Government proceeds to name and shame those who did not take heed of the Amnesty and proceed to take legal action against such cases," Mnangagwa said.
At least 30 cases involving immovable property valued at about $50m in various countries, were reported to the Reserve Bank Zimbabwe (RBZ). In another 210 cases involving $287m, the money was used to buy imported goods.
"The bulk of the 771 cases - or 55 percent that did not take heed of the amnesty pertain to non-remittance of export proceeds to the tune of $215.8m, as well as funds looted by foreigners valued at $375m. Non-acquittal of imports were valued at $75.1m.
Mnangagwa said the extension was at the request of the RBZ which wanted more time to validate and finalise the amnesty process.
At least 30 cases involving immovable property valued at about $50m in various countries, were reported to the Reserve Bank Zimbabwe (RBZ). In another 210 cases involving $287m, the money was used to buy imported goods.
"The bulk of the 771 cases - or 55 percent that did not take heed of the amnesty pertain to non-remittance of export proceeds to the tune of $215.8m, as well as funds looted by foreigners valued at $375m. Non-acquittal of imports were valued at $75.1m.
Mnangagwa said the extension was at the request of the RBZ which wanted more time to validate and finalise the amnesty process.
- Advertisement -
- Advertisement -
Tinzwei Is A Worth Voyage For Those In Pursuit For Up-To-Date World Events.
Read More At The Online Coronavirus Portal Or Use The 24-Hour Public Hotline:
South Africa: 0800 029 999 or just Send Hie to 0600 123 456 on WhatsApp
No comments