UPDATED: PRESIDENT NAMES LOOTERS. . . Over 1000 firms on list of shame

President Mnangagwa

President Mnangagwa

Nqobile Tshili, Chronicle Correspondent
PRESIDENT Emmerson Mnangagwa yesterday released names of individuals and corporates who failed to heed his call to return externalised funds to the tune of more than $826 million.

President Mnangagwa named the individuals and corporates after his amnesty for externalisers to return the country’s looted funds lapsed.

Former Reserve Bank of Zimbabwe Divisional Officer, Mr Elias Musakwa, was named for externalising $9 million to Portugal on the list which has 157 individuals and companies.

Companies in the mining, agriculture and manufacturing sectors mainly constituted externalisers of funds through non-repatriation of export proceeds, with African Associated Mines Mining topping the list for externalising over $62 million followed by Marange Resources Mining which allegedly illegally exported about $54 million.

Gold Driven Tobacco salted away over $10 million.

A total of $237,452,276 was externalised by 284 institutions in this category.

Most of the culprits fell in the category of institutions that externalised cash for imports but did not deliver their imported products.

A total of 1 403 companies are listed in this group, externalising a total of $124,846,957.

In this category, Ekusileni Medical Centre in Bulawayo came first for spiriting over $3 million out of the country followed by Mosdek Investments Pvt Ltd which externalised over $2,9 million.

Fuel Cafe Trading (Pvt) Ltd came third, externalising more than $2,4 million.

The funds transferred to foreign banks in cash under the spurious circumstances category was dominated by individuals who sent their loot to China and Botswana among other countries to the tune of $464,204,171.

The moratorium to return looted funds started on December 1 and ended at the end of February.

However, the President extended the grace period by two weeks on March 3.

In a statement, President Mnangagwa said he was naming the individuals and companies for failing to heed his call for the return of funds.

“Thus, 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,” said the President.

“It is against this background that the Authorities have no 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 obligation of the citizenry and where necessary, to ensure that those responsible for such illicit financial flows are brought to justice.”

He said the RBZ is ready to clear names of individuals and corporates who produce financial statements of their transactions.

“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,” Cde Mnangagwa said.

“This is despite the fact that ample time was granted under the amnesty period to account for and repatriate all externalised funds.”

Last Friday, the President revealed that nearly $300 million had been returned while externalisers who had invested the funds in foreign countries to the tune of $680 million were negotiating on how to bring back the money.

 

CLICK HERE TO ACCESS THE FULL LIST

@nqotshili

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  • Sad

    What a fraud, are you telling us that politicians and other biggies did not externalise.?
    President be serious, you will definitely not get my vote its gone.

    • The Watcher

      Find out the directors of these companies you will discover its the bigwigs

  • Bongani Dlamini

    I guess this is a good start. what we need to know now are who the directors of these companies are. Unmask these people.

    • Dopori

      Good start indeed, but where was ExCon at RBZ when these shenanigans were taking place? Who gave these entities and individuals the greenlighting to export the funds? And where is Gucci Grace and her hubby’s name on the list? Like you say, we need to know the names of the directors of the organisations/entities involved. Gucci and the Ol’Biltong have already owned up to owning properties in Suid Afrika and Dubhai anyway. To start off with, let these two give us adequqte explanations before everyone else does.These twits!

      • zibulo

        where , also , are the names of The Financial Institutions, Banks , who are still involved in the Cash Crisis, still hording monies. Whose laws are they following; that when you deposit say Usd200.00,and you want to withdraw part of that , they tell you there is no cash. Where are the commercial banks taking the Cash to? why are they not asked ?Why are they to do as they wish, is it a RB instruction that they horde all cash deposited??? SOLUTION IS FOR ZANU to be removed from Power and then we will get to know exactly what has been happening in Zimbabwe. The Army and ZRP/Intelligence exists in Zim to protect Govt from this very thing i mention . I have stories about a toothless dog; this is it – this Govt. All those who took to the streets, you , we , have the right to go back and ask , and block bank management from leaving their offices till they SING !! Govt is deep in Cash Externalization, deep deep, they wont solve it, we can solve it by demanding Accountability from the Financial Sector. Its the SILENT BIGGEST MISERY CAUSER this sector,

        • Dopori

          Right on @zibulo! We’re on the same hym page. One only hopes that our sentiments find their way into the ears of ED his ‘cabal’ and all those bank officials. And Pple like Chamisa, if ever they came into power, better be warned, because it is easier said than done. Clean governance (read back to basics) is what is called for. It’s not just about getting votes. We were not borne yesterday.

    • bh

      Unmask them? What have they done? Whose money have they taken out of the country? Whose? And in hard cash?

    • Joel Elman

      find out from the register of companies who are the directors of the companies

  • Vumani

    The externalisation saga is contentious and deeply flawed. It is a deterrent to potential investors they will be found in breach of foreign exchange act in a country which does not have its own currency. I was under the assumption that externalisation relates to the siphoning of government funds which were either obtained fraudulently. No company will invest in a country which will criminalise anyone purchasing raw materials outside Zimbabwe or using a fully functional banking system which is secure and risk free. The foreign exchange Act can only be operational if Zimbabwe had a recognisable effective currency. The whole fiasco contradicts use of multi-currency system in essence you have a government who have mismanaged the economy through corrupt practices for 38 years resulting in bankrupt reserve bank criminalising companies and individuals for transferring their companies to safe well managed destinations its a recipe for disaster. No company can be prosecuted because the EDiot led government has no case. The focus should be on Mugabe family and Diamond fat cats who purchased properties in neighbouring South Africa and Dubai those are the real criminals this list will only confirm that Zimbabwe is closed for business any one wanting to invest is not allowed to recoup dividends or profits on their investment what a bunch of EDiots !!! ED and his handlers are a deeply confused lot one hand trying to entice investment on the other transferring profits abroad is criminal offence. That list is meaningless to say least.

    • zibulo

      biggest idiot is Zimpapers, Chronicle, allowing itself to publish a useless list , of an ill-defined alleged crime . as long as the list excludes list of Property bought in Foreign Lands by ZANU hiearchy , this list is as useless as the zimpapers paper it is printed on !!!!!

    • Tipeiwomasanzu Garaikokozvenyu

      Shamwari mira ndikuwudze, forgive me I’m Shona, but I can speak Zulu . Indaba le ukuze ilungiswe, kubalulekile ukuthi lab’ abathath’ snqumo kufane’l ukuthi babuye bazochaza kulaba okuyibona abaphenya ngezomnotho, ukuthi kuhambe kanje, ngoba kungenzeka mhlawumbe uthole ukuthi kunes’cwazi esithile esokuthi mhlawumbe kutholakal’ ukuthi lomuntu wake wabanecala kanjalo kanjalo. Noma ngabe yilokho, noma ngabe mhlawumbe kuley’ zatho eyithile, noma kwesiny’ iskhathi kubonakal’ ukuthi, ngezizathu ezinje ezinje kufanele kubuye kuzochazwa, iqinis’ impela. Uma singabuyi sizochaza asenzi kahle ngoba laba phela omongameli labaholi bakahulumeni kufanele ukuthi bazi ukuthi yini lena ebangeli ukuthi kubekhona ukubhidliza umnotho wezwe kanjena.

      • Question Mark?

        Nhandi mtape, wareketenyi apa? Muntu ubhale ngeskiwa; wena upendule ngesiZulu. Kulungile upstairs ekhanda?

  • Martin Chipimo

    HE, ED Sir I would have appreciated it much more if you have named the individuals (directors) who are involved in this U$237 million scandal, please name them as you promised.

  • Reason

    Much ado about nothing.downright silly.The current gvt must not take us for fools.meagre amounts which the so called perpetrators can defend in court.There is no looting here. This money belongs to these companies.Courts will waste time apa iyo mari saving yakabiwa kuchiadzwa uko.

  • Mumanyikawakaroka

    How do mines, particularly diamond miners, externalise funds for we were told diamond sales is through Minerals Marketing Corporation or some arms of Goz.? You mean gov. was only involved in marketing and payment went straight to the miner? Somebody is not telling the truth here for the arrangement was such that miners would hand over all the diamonds which then, strictly speaking, become Goz. property. Which means it is the gov. that did not repatriate the proceeds of exports, not the Companies.

    • C.Note

      For a bunch of makorokozas that right but for huge companies like the chinese companies that mined the diamonds, they somehow found a way to externalise it. Justify the loss of 15billion diamond money

  • The Watcher

    Ok. Now What? Whats nxt? Prosecution or kuphelela khonapho ku shaming?

  • Nitram2

    Looking east! Most of the top foreign currency exporters are Chinese foreign nationals and companies!

  • Director

    Mnangagwa has all but closed the door to foreign investment. This song and dance is nothing more than him getting involved in what is ZIMRA and commercial bank issues with Zimbabwean companies – nothing more ! As someone listed on “the list” we are only outstanding a BOE which we have enough evidence and reason to not have submitted thus far. What’s a shame and embarrassment for EDiot is!!!! We will respond publicly and show the World that HE and HIS “Government” are the same incompetent clowns that have been there for the last 37 years! What’s “laughable” to us is they even got the figure wrong as well! Wonder whose bottom they got these figure from? EDiots maybe?

  • Bolzosteel

    As long as this list does not contain Grace Mugabe, Robert Mugabe, Obert Mpofu, Emerson Munangagwa etal it’s and idiot’s wish to hoodwink the populace. The real looters have not included themselves in the list that they compiled

  • Andrew Moyana

    Mr ED, the people of Zim (for a moment) believed in your words and promises. We even had to turn way our shameless eyes to the coup led by you and your friends for the sake of change. But we now know that its a case of ‘from the frying pan into the flames’. But one thing for sure as every day, minute, second, and indeed your selfish, ignorant decisions come and go we are only becoming more and more wiser. Take a leave out of Mugabe’s case sir: You will indeed need us one day, and we will be no where close to be found. We are not as stupid as you think, and one day is one day. Tichabatana magaro pakuyambuka shamwari. Isalakutshelwa sizaba njengo Mugabe…

  • The Voice

    I have stood by and defended Ed because I believed that he is going to sort out the mess that is bedeviling us here. But instead he builds a sand castle in the air for us. Ed, I’m deeply disappointed. For now you still have my vote. But you are slowly losing it. And that of other people who want to believe that you are going to sort out the mess that you and Robert created.

    This is what you have to do to win the election:
    1. Give us a credible list of criminals that externalized money to show your seriousness and impartiality.
    2. Deal with Obert Mpofu for, among other things, disrespecting you in Parliament. We are still wondering how he is one of your most trusted peoples when the people he is meant to serve are crying about him daily.
    3. Sort out the cash availability problem so that we can get our moneys that we worked for. We, the normal citizens of Zimbabwe do not have any money to externalise. We do not earn a Zimbabwean currency. We earn in USD’s.
    4. Give the existing businesses money to improve our way of life by availing the promised goods and services.

    These are short term key deliverables for Ed.

  • Chikamazeko

    ED is wasting time digging useless information , what caused people to externalize funds , that’s the root cause of the problem , when they planned to bring bond notes , every wise person could sense danger , it does not make sense to keep money which will lose value daily , you rather keep you money safe or just buy fixed assets than keeping it the bank for Inflation to reduce its value ; Our major Challenge is Poor manufacturing and Agriculture industry ; we are importing almost every thing up to the sewage materials like tissues and pumpers , meaning even flushing the toilet is siphoning foreign currency , if we fail to address that’s we will cry till we die ; The Major Challenge is that’s the few who have excess to funds from the government ( thru loans) are not business minded they are busy building their houses , the likes of Kasuwere , O Mpofu etc . Why cant they venture into manufacturing sector . Government should fund capable people not giving loans on Political line ; Vakaita chi Zanu Pf hazvifambi because they all struggling

  • Santsho

    The mouse cannot bell the cat hence the scenario we are experiencing as far as this matter is concerned.

  • ROYAL MTHWAKAZI

    That list proves just how stupid Africans are. The Chinese are no fools. So these are what you call your all weather friends with your look east policy? The West is far better for sure – they don’t pretend.
    You choose to spite the West by mortgaging your economies to ruthlessly exploitative China, you think they care? Since Zim decided on deny the West economic opportunities in Zim, who of the two is worse off today, the Western countries or Zimbabwe?
    As far as the Chinese are concerned, as Black people you can go ahead with your primitive butchering of each other as long as you don’t disturb them from looting your African economies. That is their modus operandi.
    Just look at the funds these Chinese externalized, at a time Zim was on its knees and you call these people friends? Where are the deals Mugabe signed?
    Instead of refurbishing your Railways, they offer you funds to build a Military College; they offer you funds to build a Parliament building – how will that generate income for the nation? Stupid Africans wake up!!

  • George Smith

    This is just so wrong, I have spent money outside of the country , that I got from the banks, I must have spent at least US$575 and Rand3 450, all in the last year, also I have used my bank cards a few years ago while in the UK on a trip and spent $10 500 at least. What more do I have to do to be added to the list? Must I rob a bank? Why have I been left off, I object.

  • sanch

    my question is….what is the government planning to with these culprits????

  • MakhosiXamu

    EDIOT is just lacking as an Economist and very dump. This issue of externalisation mantra by ED has no foundation. When Gono introduced the Foreign Currency regulations companies and individuals brought billions into the country and the economy rebounded resulting in economy stabilising. The same groups have decided to withdraw their money from this mismanaged economy whose leaders(ED) are busy singing war songs that are empty. ED forgot that the army would not help him to manage the economy. If i deposit my USD/pounds etc into a bank I have the right to withdraw that money. The looters’ tag by ED/Chiwenga shows how hollow their mindsets are. Our Banks are not to blame in this money game but it the entire Economy that soldiers masquerading as civilians carrying out military coups and beating citizens at will. ED/Chiwenga must resign and allow a new Govt. to take over. As locals we are so sacred to invest in this economy– hat about a foreigner?. ED is just shameless. U Ambrose Mtinhiri yindoda ngimtshayela ihlombe. NPF is the only party with sound minded leaders.

  • Major Musango

    Failure to acquit is not externalization Mr President … after all why is your name excluded