Zimbabwe's new leader issues ultimatum for externalised funds

2017-11-28 19:29
Emmerson Mnangagwa is sworn in as president in Harare. (Ben Curtis, AP)

Emmerson Mnangagwa is sworn in as president in Harare. (Ben Curtis, AP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Harare - Zimbabwe's new president on Tuesday gave a three-month ultimatum for the return of funds siphoned out of the country by individuals and corporations, as he moves to stem graft and revive the moribund economy.

"The government of Zimbabwe is gazetting a three-month moratorium within which those involved in the malpractice can bring back the funds and assets, with no questions being asked or charges preferred against them," Emmerson Mnangagwa said in a statement.

The amnesty period will run from December 1.

"Upon expiry of the three-month window, the government will proceed to effect arrest of all those who would not have complied with this directive and will ensure that they are prosecuted in terms of the country's laws," he said.

Mnangagwa, who took over from long ruling Robert Mugabe last week after a military intervention, said the operation had discovered that huge funds were illegally externalised.

The military operation which saw tanks rolling down the street and culminated in Mugabe's resignation, helped unearth "cases where huge sums of money and other assets were illegally externalised by certain individuals and corporates," he said.

"Such malpractices constitute a very serious economic crime against the people of Zimbabwe which the government of Zimbabwe will never condone."

Zimbabwe is facing a perennial liquidity crunch which has worsened in recent months leaving banks with little or no cash.

Mnangagwa, 75, was sworn-in last Friday vowing to fight corruption, protect foreign investment and create jobs to help re-build the troubled economy.

Read more on:    emmerson mnangagwa  |  zimbabwe  |  southern africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.