Chinese top looters’ list

CHINESE nationals, retail and mining companies – long touted as Zimbabwe’s all-weather friends – have dominated the list of alleged cash looters who externalised over $1,3 billion during former President Robert Mugabe’s era, fuelling the current economic crunch.


According to the looters’ list released by President Emmerson Mnangagwa yesterday, following the expiry of his 104-day moratorium, the bulk of the money was externalised through non-repatriation of export proceeds, payment for goods not received in Zimbabwe or funds externalised to foreign banks in cash or under spurious transactions.
Chinese nationals and big mining companies, where the government has interests, dominated the list of individuals and companies, who allegedly externalised huge sums of money released, prejudicing the troubled economy of almost $1 billion.

However, the list received mixed reactions from the public, politicians and business community, with some questioning why Zanu PF bigwigs believed to be involved in the scam were not listed, save for former musician-cum-politician Elias Musakwa who allegedly externalised $9 million to Portugal.

Others, however, hailed the move by Mnangagwa’s government, saying it promoted the spirit of accountability although the list fell short of public expectations.

Other than naming and shaming the “externalisers”, Mnangagwa has threatened legal action against them, although financial analysts warned that the legal route might prove difficult without first amending the Reserve Bank of Zimbabwe Act.

Last Friday, former First Lady Grace Mugabe‚ widely speculated to be the main target of Mnangagwa’s call for funds to be returned‚ told a Sunday paper she had nothing to hide.
“We are honest people. We have no money outside‚” she said.

According to the list, the bulk of the money was deposited in Chinese, Botswana, South African, Hong Kong, United Kingdom, Portuguese and Mozambican banks.

Several government-owned companies that were required to meet and satisfy the Reserve Bank of Zimbabwe (RBZ) standards were surprisingly on the list.

They include Zimchem Refineries, Sandawana Mine, National Printing and Packaging, Printflow (Pvt) Limited, NetOne, Allied Timbers Zimbabwe and Sable Chemicals.
African Associated Mines dominated with reports that it externalised $62 049 622.

Former Chiadzwa diamond mining companies, accused of failing to properly abide to ethical business standards, stand accused of collectively externalising more than

$111 million.

Some of the companies were in joint ventures with the government.

Former Finance minister Tendai Biti said: “The list needs to be carefully studied because it shows what happens in our economy. While there are challenges around the criminalisation as I have said before, it is quite clear that there are a lot of illegal activities taking place and there are too many culprits there.

“There are a lot of shenanigans with the mines and traditionally mining houses have always been a source of illicit financial flows.

“The other thing coming particularly from category three of people just making cash transfers into the bank accounts, you find that almost 90% of the destinations is China. You will find out that almost 90% of the people who externalised that money are Chinese, but when you look at their footprint into the economy it is very small.”
Biti said there were many innocent people placed on the list. He also demanded that the RBZ release the time periods covered by the transactions as low levels of trust in the government led to the rise in underhand dealings.

“If you look at the list there are many innocent people whose names have been put there and more questions are raised and the legality of the situation is raised there. There is going to be a lot of litigation flying left, right and centre,” he said.

Human Rights Watch Southern Africa director, Dewa Mavhinga dismissed the list as a smokescreen.

“The so-called list of externalised funds is a smokescreen, it seems it is a list of exporters who did not comply with Reserve Bank requirements on CD1 forms,” he said.
“Publication of the list amounts to playing political gimmicks without actually doing anything about ‘externalisation’, a concept that so far remains undefined. Why publish names to shame individuals and companies without applying the law with regards prosecution? If this list is genuine, the Mnangagwa [administration] must invoke the law without casting aspersions.”

MDC-T secretary for finance and economic affairs, Tapiwa Mashakada dismissed the list as a Zanu PF public relations exercise to “protect real looters”.

“The fact that these companies are known means that the externalisation was known and, therefore, not illicit. The Reserve Bank kept records of exporters who did not acquit. So it is dishonest for government to seek cheap political capital by publishing a list of names of companies who are in the official business of exports. What this shows is that the government has backtracked on its initial intention of exposing individuals involved in real illicit financial outflows. By publishing a list dominated by companies, the government is simply posturing and actually camouflaging and protecting real culprits who are the big wigs in Zanu PF. On top of the list should be those who externalised $15 billion,” he said.

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  1. This list proves Zimbabwe is FAR from being open for business – I hope investors see for themselves the nonsense we Zimbabwe companies are forced to put up with! a corrupt and incompetent ZIMRA is the reason my company is “on the list” ! ED is the same fool he’s been for the last 38 years !

    1. THe incompetence of ZIMRA as per your comment testifies that externalisation took place then why casting the dice on ED. Corrupt individuals always runaway from the main agenda and seek political dimensions. This issues requires legal attention and it is not grapevine, it can be proven. Think before you prove that you are a fool to the fullest point.

    2. Hey wena we want our money BACK!

  2. these chinese are no good lot ,there brought us substandard stuff zvingzhongis, impregnated our sisters, looted our diamonds and there not yet done with as there are running shops in down town were there are refusing to embrace POS machines, pse gvt do we need another cleansing exercise to get rid of these people its time to act, with all this there is not even a single investment to talk about from them apart from the cracking mall next to nss, its a shame

    1. For once in life I agree with you there. Get rid of them, we simply falling into the scramble for Africa by China.

  3. Black list shame

  4. Expectations and reality are totally two different things. Lets us base our arguments and reporting on facts. The other thing is that, maybe, those expected to be on the list did so through “proxy”, people are not stupid, they hide through others like the Chinese. So those who were used will face the music.

  5. JOKE OF THE CENTURY SOME OF THE Companies are long gone. For instance Eaglemoss which is on the list collapsed after its owner Mugari ( who at one time was my neighbour in Marlborough)died in a car crash near newlands shopping center in 2007. we are also interested in the names of the individuals who own these companies

    1. Eaglemoss is still there(not as big as it was when cosmas was still alive MHSRIP)
      they transported a few of my goods mid last year

  6. More than half of the list are not looters but they simply failed to comply with RBZ Requirements or simply paperwork not in order. Just like when auditors come when acquittal forms are not completed they will report the advanced amount as unaccounted for, misappropriated or missing funds. Real looters are ZANU PF big wigs


  7. This is a good start, but if the list is not exhaustive as it appears be, it will bring more harm to ED than the good and elevation it was supposed to bring. There are people who are known to have built hotels and mansions outside Zimbabwe during this period, where did they get the money from. If they got it direct from the Reserve Bank of Zimbabwe then Mr Gedion Gono would need to assist with another list.

  8. You may want, first to challenge the amount that is said to have been looted before you tell us there are some looters not on the list. To me the figures are tallying what was reported missing equals to what has been recovered plus what is outstanding. now lets hear how much else has been looted. I disagree with companies that make accounting mistakes that benefit them, in simple terms that will be fraud. Lets applaud the move. we have a starting point.

  9. tendai chaminuka

    The only good which came from these all weather friends is Bruce Lee.Haa economy vanoponda zvavo

  10. If these companies feel that they dont deserve to be on this list they should seek legal advice inga ana BITI,MWONZORA,CHAMISA and many more are there.Zimbabwe will never progress under this type of thinking everything ED is doing is bad.I wish the president didnt get involved in these externalised funds,he was supposed to ignore it and continue like what mugabe used to do and like the inclusive govt was doing since huge ammount of this moneY was externalised during the GNU. I was wondering why Biti is the most talkertive on this issue he was finance minister when a lot of this mone was externalised.

  11. Ya, it’s an unfortunate generation, born poor and die poor because of this so called ‘revolutionary government’ that has all along been hiding behind ‘the sanctions syndrome’, as a defense mechanism! The way forward, who is going to clean this messy!

    1. VOTE MDC !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  12. A good start Mr ED. Barking dogs will always be there.

  13. Director must know the difference between the coming of investors as related to shaming and naming looters.What do you mean if you say Zimbabwe is not open for business simply because it has named and shamed looters.Whats the connection.If ZIMRA was corrupt why then did it release the names of the looters instead of concealing them.Ndimi muri kufamba muchikumbira masanctions imi.Kana wanzi dzorera mari dzorera maiba imi nhasi makuti Zimbabwe is not open for business kudii.Its open for business but not open for mbavha dzkaita semi.


  15. But how do you expose the real looters if they were smart?. In the streets we know them but at law we cannot pin them. We know who received his salary in cash, who bought house in RSA, or rented in Dubai. But at law can we touch a crime there? What if they are not village idiots and all their transactions had other people’s names? so they are clean clean clean, stupid stupid!

  16. what of the Chinese who trade in cash??

  17. stupid Editor wicknell got 5million and he externilise was 29000

  18. I do’t understand the true nature of zimbabweans. Do you definitely want the country to prosper or not? I said this because since 1980, zimbabwe has never been governed by another party since 1980 except zanu pf alone.SO who is pulling zimbabwe backwards and forward never ever,will zimbabwe ever rapidly forge ahead in terms of development when zanu pf is pulling the country spiral downwards? NO.You zimbabweans need to adopt a changing attitude,not to keep on holding and supporting zanu pf government when we know that they will never ever change the status co pliz.

  19. Matebele Warrior- Chamisa is our leader

    Some say its a move in the right direction , i say no, because a move in the right direction must be supported by real facts and honest.Fom the calibre of zanu pf cabals we have it is not possible to fail to have any including chivayo from the list.
    This whole exercise is just nonsense and a political gimmick or simply political grand standing.
    I wish i had the bank statements of all banks , my list will be different from the one from Ed .
    ED is not honest and faithful to us, one would wonder how someone who betrayed his friend for 50 years would be honest today.

  20. Matebele Warrior- Chamisa is our leader

    @ sandy , you are a very courageous person who thinks like me , myself and my community in Plumtree are voting for Chamisa without fail , please like minded people vote for this man who is not aligned to any previous corrupt act.
    I wish i were you so that you think more braodly like me, Simba and sandy

    1. you are being used,why cant he allow Khupe to lead?because she I your eyes bra

  21. I think we as Zimbabweans we are not thankful thus the first point. then secondly why in the first place we were happy about the removal of our late president RGM, while we actually know that ED is not good as you expecting…. to me ED is doing his best thus all

    1. If this is his best? yooh I wonder his worst,, then his worst is worse than a famine and drought, corruption, cash crisis, 90% un employment.

  22. Terry you are an idiot. Doing his best chipi chacho. Vamwe tave mberi kare we cant be stuck in ancient old leaders in this era and age. Chamisa muoffice tidye mari kwete matakanana atoitirwa neZanu tsvina iyi.

  23. The true facts that i have gathered since 1980 are that,zimbabweans are totally stupid,idiots,useless,self centred hearts and visionless because they are failing to change atittudes towards themselves.What is zanu pf really in people’s short lives in zimbabwe? For Mugabe and zanu pf to become what they are, so many people in the likes of Ndabaningi,Chitepo,Tongogara,etc had to shade blood for Mugabe and his gangsters to become as what they are today. IF it is the same case,why can’t we chase them the same way? What is their importance in the sufferings of the zimbabweans when they don’t care about us? ED and Zanu pf must go at all cost pliz come election time. They want diaspora vote,why?

  24. We want diaspora vote but they are refusing ,what is the problem with them if they are very serious in terms of developing that country?

  25. Terry is one of the fools and useless bastards who are keeping on supporting and aiding a useless regime that will never ever change the fortunes of zimbabweans. We can’t keep on stucking at one point because of ED and his cruel zanu pf gangsters,let us get united and understand what best we want zimbabwe to be like as South Africa today.We are tired of being lead by zanu pf killers and destroyers of our futures.With me anything regarding zanu pf,i have declared to my god that this must perish forever.

  26. 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!!

  27. Zanu pf and its supporters are really very very useless and stupid minded people and thought that they are clever,idiots.

  28. Surprise Surprise! the Chinese are the biggest looters thank you to the Look East Policy of the 94 year old Watched a programme some years back how the chinese have taken alot of the raw materials from the continent and just have done shoddy work throughout the Continent Some of the materials were used to build the Birds nest at the Bejing Olympic Games They hae looted all right from raw materials, elephant tusks, rhino horns you name it they have looted they were made to fell more welcome onthe continent by those leaders who wanted the Look East Policy and rejected those from other communities , because of their race who were born on the continent

  29. Job well done ED those complaining are looters

    1. Pamberi naED

  30. My vote is on you ED

  31. This is only a tip of the iceberg / its common knowlegde companies are under declaring their earnings on CD1 and CD3’s. Any Journalist worth his salt can follow through on this. On CD3 my experience is they can be under declared by 50%.

    There is zero will to bring this thing under control cause Politicians are part of this messy business.

    Kuwondonga Nyika nekuita huori. Nguva yakwana, yekuti tivharire Zanu kunze.

  32. mandebele Lusaba

    Comment…looking east at easterners for 20 years while they milk our economy and went rate yourselves amoung Africa’s most literate. shame to us.

  33. The latest name and shame campaign is just another idiotic plan from an economically illiterate government lead by a semi-literate lawyer wanna be. At least RGM knew what he was talking about and had a plan. Bring back RGM!!!

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