By Beaven Dhliwayo.
Harare, Zimbabwe. (News of The South) – The Zimbabwean Government on Monday released a list of companies and individuals who externalised funds and did not heed to President Emmerson Mnangagwa’s call to return the funds.
In November last year when President Emmerson Mnangagwa took office after the resignation of former president Robert Mugabe, he called on people who illegally externalised money to return the money within three months.
Mnangagwa said that there will be a three month period in which people can return the funds without any fear of prosecution.
He also said after the three month period elapses, the authorities will start making arrests, Mnangagwa said this in a statement which was released late November last year.
The amount declared or received after the end of the amnesty on 16 March is US$591,100,000 and the outstanding balance is US$826,503,404, according to the Reserve Bank of Zimbabwe (RBZ).
The list released today comprises three categories of externalisation.
Category One comprises funds externalised through non-repatriation of export proceeds which amount to a total of US$237 million from 284 companies.
Category Two of funds externalised through payment of goods not received in Zimbabwe amounts to US$124, 8 million from 1 403 companies.
Category Three of funds externalised to foreign banks in cash or under spurious transactions amounts to US$464 million from 157 companies and individuals.
In a press statement, President Mnangagwa said entities and individuals listed in the three categories ignored and /or neglected the amnesty by failing to account for the funds indicated before the 16th of March 2018 deadline.
“Despite concerted efforts by authorities and banks to request these entities and individuals to account for the externalised funds, the entities or individuals failed, ignored or neglected to respond to the amnesty.
“It is against this background that the authorities have no other recourse to cause these entities and individuals to respond, other than to publicise the names of the entities and individuals so that the concerned parties take heed of the importance of good corporate governance and the legal obligations of citizenry and, where necessary, to ensure that those responsible for such illicit financial flows are brought to justice,” he said.
President Mnangagwa added that “The Reserve Bank of Zimbabwe is ready to process transactions where the concerned parties can show proof of declaration and/or repatriation of funds without prejudice given that the burden of proof lies with the concerned parties. This is despite the fact that ample time was granted under the Amnesty period to account and repatriate all externalized funds.”
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