Source: Zimbabwe losing $4bn annually to corruption | The Financial Gazette May 24, 2018
Deputy Finance Minister, Terrence Mukupe says government could help the situation by putting in place legislation to arrest corruption
By Chris Mahove
ZIMBABWE is losing an average $4 billion annually to corruption due to bureaucratic bungling, a local economist Prosper Chitambara has said.
Chitambara said the country’s institutional fabric had been eroded over time, adding that this applied to both economic and political institutions, a situation he said created a fertile breeding ground for corruption.
“So if you consider the fact that Zimbabwe is a $16 billion economy and 25 percent of that is lost, then you can actually project that in Zimbabwe we are losing about $4 billion through corruption. So that is very huge,” said Chitambara.
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