Cash Barons, Bogus Businessman In Panic As ED Uses Presidential Powers

President Emmerson Mnangagwa’s decision to use the Presidential Powers to authorise the National Prosecuting Authority (NPA) and Zimbabwe Anti-Corruption Commission (Zacc) to seize unexplained real-time gross settlement (RTGS) balances and fixed assets is reported to have left “cash barons” and other unscrupulous dealers in a state of panic. The law is expected to be gazetted today. Commenting on the matter Information ministry secretary Ndavaningi Mangwana said,

The President has invoked his (presidential) powers so that the law enforcement agents such as police, the NPA and Zacc have more teeth to compel suspects to explain their wealth. Those who fail to give satisfactory answers risk forfeiture of assets or monies.

However, opposition politician and former Finance Minister said the country does not need new laws to fight corruption. Said Biti,

You don’t need new laws because the current laws are sufficient to deal with corruption. What is needed is to ensure that the arms are free from Executive influence and State Capture. Real corrupt people are not arrested because they are connected.

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