US$50bn siphoned out of Africa: Zacc

By The NewsDay | Jun. 21, 2022 | 2 Min read

Of the US$50 billion, Zacc says Zimbabwe could be losing US$1 billion annually through graft.

BY NIZBERT MOYO THE Zimbabwe Anti-Corruption Commission (Zacc) says Africa has been losing over US$50 billion in illicit financial flows per annum, a sign that corruption is still rife on the continent.

Of the US$50 billion, Zacc says Zimbabwe could be losing US$1 billion annually through graft.

Speaking to NewsDay on the sidelines of an anti-corruption indaba by members of the African Parliamentarians Network Against Corruption (Apnac) in Bulawayo, Zacc vice-chairperson Kuziwa Murapa said one of the biggest challenges faced in the anti-corruption fight, particularly in Zimbabwe, was poor remuneration of law enforcement agents dealing with graft cases.

The Apnac indaba was attended by delegates from different countries in the region, including parliamentarians. Zimbabwe’s Apnac chapter is chaired by Norton Member of Parliament Temba Mliswa (independent).

“The impact of corruption cannot be underestimated in Africa. About 43% of Africans are living in poverty, while over US$50 billion worth of stolen assets flow out of Africa every year according to a Transparency International 2018 report,” Murapa said. “It is estimated, but is not verified that Zimbabwe could be losing more than US$1 billion annually in the form of illicit financial flows.”

Murapa said abuse of power was the main cause of corruption, as well as bad corporate governance practices.

“In 2021, the commission received 1 501 complaints of suspected corruption cases, representing a 32% increase from the previous year. Of the total number of complaints received, 1 354 were corruption-related, while 147 were non-corruption matters. We have signed 24 local and two regional alliances to fight corruption,” Murapa added.

Zimbabwe National Road Administration (Zinara) board chairperson George Manyaya also told NewsDay that the roads authority was now seriously dealing with issues of graft raised in the 2018 Auditor-General’s report.

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Some of the corrupt practices at Zinara included unsanctioned hefty allowances for managers, nepotism and fraudulent awarding of road tenders.

“Zinara is now undertaking a skills audit to deal with issues raised by the AG report. Every employee now has a contract and we have introduced standard operating procedures for petty cash,” Manyaya said.