Zacc recovers assets worth US$25 million in 2022

The Chronicle

Patrick Chitumba, Midlands Bureau Chief

Zimbabwe Anti-Corruption Commission (Zacc) has recovered assets worth more than US$25 million from January to date through its asset recovery and forfeiture unit.

In his inaugural speech in November 2017, President Mnangagwa declared war against corruption in all its facets.

To demonstrate his commitment to the stance, the Government enacted various legislation which include the Corporate Governance Act, established Anti-Corruption Courts and has also been strengthening agencies that are involved in the fight against corruption.

The recovery of assets by Zacc has been necessitated by the Second Republic’s commitment towards fighting graft through the granting of the powers of arrest, powers of search and seizure to recover assets bought using ill-gotten wealth.

Zacc has activated links with several international agencies to recover the loot, some of which is stashed in offshore bank accounts and trust funds.

Some of the externalised cash has been used to buy luxury properties and other assets.

So far this year, Zacc has recovered more than US$25 million worth of ill-gotten wealth.

Over the past two years, Zacc has been on an unrelenting drive to seize assets that were accrued from proceeds of crime.

Assets that the anti-graft body recovered include houses, residential stands and vehicles.

Cash recoveries are also expected.

In an interview, Zacc spokesperson Commissioner John Makamure said the commission has now shifted its focus to high profile cases for investigation.

“Zacc has recovered assets worth more than US$25 million from January to date through its asset recovery and forfeiture unit. We have exceeded recovering assets worth US$25million. We are focusing on high profile cases,” he said.

Mr Makamure said they cannot divulge names of individuals whose assets have been forfeited as the matters are before the courts.

“Once assets have been seized we hand over the investigation docket to the National Prosecuting Authority which has the mandate to make an application to the High Court for the forfeiture of the assets. Forfeited assets are managed by the Asset Management Unit housed at the Reserve Bank of Zimbabwe. Cash is remitted to Treasury,” he said. Mr Makamure said they also rely on Auditor General’s reports as well as whistleblowers to trace corruption cases.

ZACC spokesperson Commissioner John Makamure

He said pillars that are at the core of Zacc operations include the NPA, Financial Intelligence Unit and Zimra among others.

Zacc chairperson, Justice Loice Matanda-Moyo said since the Asset Recovery Unit was introduced in 2019, a lot of progress has been made in investigating corruption cases.

“The importance of asset recovery in the fight against such crimes cannot be overemphasised. Criminals and their networks should not be left to enjoy the proceeds of crime while in prison or after serving their sentences,” she said.

Justice Matanda-Moyo said graft-busters take asset recovery seriously as they believe that corruption is a cancer that impedes development.

Over 40 high-profile cases whose investigations were completed are pending before the courts.

Recently, Zacc seized Gokwe Nembudziya Legislator Justice Mayor Wadyajena’s 22 haulage trucks and two luxury vehicles on allegations that they were acquired through proceeds from corruption.

Wadyajena and his accomplices, Cottco managing director Pious Manamike, marketing manager Maxmore Njanji, Fortunate Molai also of Cottco and Chiedza Danha, director for Pierpont Moncroix Mauritius were arrested by Zacc two weeks ago.

The matter is before the courts.

Article Source: The Chronicle

Enjoyed this post? Share it!