Foreign Currency: Externalised US$850 Million Returned Home

Harare - After a three month grace period offered to foreign currency externalisers, a total of $850 million has been repatriated back home, according to President Emmerson Mnangagwa. 

In November last year, the president extended an amnesty which expired in March, raking in US$591 million.

Speaking at the 31st Ordinary Session of the African Union (AU) General Assembly, he said the figure now stood at US$850 million.

“On assumption of office, I gave moratorium of three months to those who have taken money from Zimbabwe to bring it back. In three months so far I have got the feedback of US$850 million that has been brought back,” said President Mnangagwa.
Foreign Currency Externalisation Hit Zimbabwe Hard

“Upon assumption of the Presidency of my country, my Government prioritised the fight against corruption. To this end, we have established Special Anti-Corruption Courts, required Cabinet members to declare their assets. 

“Corruption networks are becoming more sophisticated, hence the need to enhance information sharing amongst member-states’ law enforcement agencies and related institutions on the continent and beyond.”

He described corruption as an enemy of development and progress.

“Corruption is an enemy of development and progress, hence this fight must be part of a broader commitment to good governance and sustainable development. 

“Equally, we must build strong and robust institutions that ensure that all our assets and natural resources benefit many rather than line the pockets of a few.”

He said the board and other organs of the AU should be above reproach.

“Zimbabwe signed and domesticated Sadc, AU and UN legal instruments against the scourge of corruption. We also honour our reporting obligations, including to the African Union Advisory Board on Corruption.”

President Mnangagwa had since published a list with 1 844 externalisers composed of looters in mining, agriculture, manufacturing and cross border freight.

The Summit is themed: “Winning the fight against corruption: a sustainable path to Africa’s transformation.” - Online Sources 

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