US$7 Billion siphoned for safekeeping

US$7 Billion siphoned for safekeeping

US$7 Billion siphoned for safekeeping

The US$7 billion which the Zimbabwe Anti-Corruption Commission (ZACC) was stashed outside the country by former and current leaders and business elites will never be recovered, MUCKRAKER has opined.

US$7 Billion siphoned  for safekeeping

ZACC recently announced that it was formalizing the investigation process in a bid to initiate the repatriation process.

Muckraker is however pessimistic, says that President Emmerson Mnangagwa in 2018 released an externalisation list but no action was taken neither were the externalised funds recovered. The publication said:

Besides, we all know what the conclusion of any formal investigation into this so-called US$7 billion will find. It will obviously reveal that, in their usual diligent stewardship of the country’s wealth, our leaders have been spiriting this money into bank accounts abroad in order to protect it on behalf of the people. They just took the nation’s billions abroad for safekeeping. We cannot risk those dirty Americans laying their grubby hands on our money. We trust our leaders to keep it for us.

Corruption is rampant in the country and has been identified as one of the major ills hamstringing economic transformation in the country.

When Mnangagwa came into office twenty-four months ago, he admitted to the existence of systemic and institutionalised corruption and pledged to confront it head-on, but some analysts are not convinced that he is really committed to fighting it.

More: Zimbabwe Independent

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