CHAIRPERSON of the Zimbabwe Anti-Corruption Commission (ZACC) Loice Matanda-Moyo on Tuesday said her commission had identified about 7 billion U.S. dollars in cash and assets which had been illegally exported to several countries by former and current government officials.
Other senior officials working for government-linked entities were also allegedly involved in siphoning money out of the country, she told Xinhua in an interview.
“We have discovered that through informal intelligence. We’ve organisations we’re working with which will help us to formalize the gathering of the information and we want to start by tainting such properties,” she said.
She said properties and funds had been discovered in countries including Singapore, South Africa, Switzerland, Malaysia and Spain.
She conceded that repatriating such funds would take long, but given that many of the former havens were now frowning upon illicit financial flows, the process would take a relatively short time.
“At least we now have countries coming along to fight illicit financial inflows and the process can now take us up to five years,” she said.