Government will soon prosecute more than 400 corrupt individuals within the system, including some who believe they have immunity, a cabinet minister has said.

‘Bond notes are untenable’

Addressing students during a guest lecture at the National University of Science and Technology (Nust) yesterday, Deputy Minister of Finance and Economic Development, Terrence Mukupe, without mentioning names, said there are individuals within Government who prejudiced the country of funds who should be in prison.

Recently, President Emmerson Mnangagwa said there won’t be sacred cows in the fight against corruption adding that Government will not consider friendship or kinship in its fight against the vice.

“The economy is there to serve the interests of the people, the way the Zimbabwean economy was previously set up, it was meant to serve the interest of individuals and not that of the people. The President has said there won’t be any sacred cows when it comes to dealing with corruption. There are some people who are walking with us who think they have gotten away with corruption but they haven’t,” said Min Mukupe.

“I know there are people who we are not mentioning as for now, but watch the space and you will see what will happen. I know for a fact that Zacc has been handling cases of corrupt people who should be in court and finally in prison. So it’s not yet over and I think the people of Zimbabwe deserve justice.”

On Thursday Finance and Economic Development Minister, Patrick Chinamasa said all companies and individuals that externalised funds and assets will have their day in court.

He also indicated that those who feel that there are names that need to be included on the list, are supposed to take the initiative and raise the issue with the authorities in their personal capacity.

On Monday, President Mnangagwa published a list of 1 844 alleged externalisers who failed to return an estimated $1 billion after the expiry of a three-month amnesty that ran from December 1 last year.

Former Reserve Bank of Zimbabwe Divisional Officer, Mr Elias Musakwa, was named for externalising $9 million to Portugal on the list which has 157 individuals and companies.

Companies in the mining, agriculture and manufacturing sectors mainly constituted externalisers of funds through non-repatriation of export proceeds, with African Associated Mines Mining topping the list for externalising more than $62 million followed by Marange Resources Mining which allegedly illegally exported about $54 million.

A total of $237 452 276 was externalised by 284 institutions in this category.

Most of the culprits fell in the category of institutions that externalised cash for imports but did not deliver their imported products.

A total of 1 403 companies are listed in this group, externalising a total of $124 846 957.

Last Friday, the President revealed that nearly $300 million had been returned while externalisers who had invested the funds in foreign countries to the tune of $680 million were negotiating how to bring back the money.