Zimbabwe’s goal to save billions spurs an aggressive crackdown on criminals 

Authorities in Zimbabwe have decided to take more drastic measures against corruption to reduce the losses the nation experiences every year

Source: Zimbabwe’s goal to save billions spurs an aggressive crackdown on criminals | Business Insider Africa

Harare, Zimbabwe

  • Zimbabwe intensifies efforts against corruption, targeting illicitly acquired assets hidden abroad.
  • Multi-agency collaboration yields $100 million in recovered assets, signaling progress in combating graft.
  • Authorities emphasize international cooperation and legal assistance for effective asset recovery and prosecution.

According to a recent report in the Zimbabwean Newspaper, The Herald, the Anti-Corruption Commission of Zimbabwe has decided to aggressively tackle corruption.

The commission aims to do this by seizing all assets acquired corruptly in Zimbabwe and stashed overseas in order to save an estimated $ 1.8 billion lost to graft annually.

As criminals get more clever, law enforcement agencies are being equipped to handle any new developments, the National Prosecuting Authority and the Zimbabwe Anti-corruption Commissioned (ZACC) assured.

Combined efforts from such agencies including the ZACC, the Zimbabwe Revenue Authority, the police force, and more have brought about the recovery of $100 million in assets believed to be proceeds of looting.

The Prosecutor-General, for the International Centre for Asset Recovery (ICAR), Justice Loice Matanda Moyo assured that things would no longer go smoothly for individuals who acquire corrupt wealth and hide it outside the country.

“As Zimbabwe, we have not started reparation of stolen assets which are hidden outside of our jurisdiction. It’s high time we start doing so,” she said.

She then went on to add, “In order to do that we need to understand mutual legal assistance and international cooperation”

Zimbabwe’s Prosecutor-General, Justice Loice Matanda Moyo, and ZACC Chairperson Michael Reza made the statement at a capacity-building session on financial investigations and asset recovery conducted by the International Centre for Asset Recovery (ICAR).

“It is time that we totally eradicate corruption in Zimbabwe and recover the stolen assets. As a result of these illicit flows, governments are left with little or no financial resources to channel towards development and the provision of basic services such as health and education,” Matanda Moyo said.