The government, and true to President Emmerson Mnangagwa’s promise, has released a list of companies and individuals who externalized funds and have not heeded the President’s call to returns the funds.
Appearing on that list are five Church organizations or their affiliated businesses: Seventh Day Adventist Church, United Methodist Dental Clinic, Family Of God Church, ZAOGA Multi Projects and the Archdiocese of Harare (Catholic).
Gospel musician of yesteryear and politician Elias Musakwa is also among the individuals who externalized funds to foreign banks in cash or under spurious transactions.
The list comprises three categories of externalization.
Category One comprises funds externalized through non-repatriation of export proceeds which amount to a total of US$237 million from 284 companies.
Category Two comprises of funds externalized through payment of goods not received in Zimbabwe amounts to US$124, 8 million from 1 403 companies.
Category Three comprises of funds externalized to foreign banks in cash or under spurious transactions amounts to US$464 million from 157 companies and individuals.
All the aforementioned church organizations or their affiliated businesses appear in the second category and here are their rankings:
|107.||Harare City Centre Adventist Church||223,208|
|874.||United Methodist Dental Clinic||23,117|
|1309.||Family Of God Church||11,410|
|1323.||Zaoga Multi Projects||11,229|
|1353.||Archdiocese Of Harare||10,693|
Elias Musakwa appears on number 21 of the third and final category, having allegedly externalized 9,000,000 to Portugal.
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 externalized 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,” said President Mnangagwa.
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.
President Mnangagwa further said listed entities or individuals with proof of declaration or repatriation of funds are free to approach the Reserve Bank of Zimbabwe which is ready to process such transactions without prejudice given that the burden of proof lies with the concerned parties.
View the full list here.