Corruption

Chairperson of the Zimbabwe Anti-Corruption Commission 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 organizations 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. Enditem

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Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.

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