This Week In History

President names, shames looters

PRESIDENT Mnangagwa yesterday named and shamed corporates and individuals that failed to return nearly $1 billion they externalised in the past years, despite Government giving them a three-month amnesty.

The moratorium, which began on December 1 last year, expired last Friday.

This saw President Mnangagwa publishing a list with 1 844 externalisers and most of the looters are in mining, agriculture, manufacturing and cross border freight. From $1,4 billion that was externalised, $591,1 million was recovered under the amnesty, while $826,5 million is outstanding.

The money was looted through non-repatriation of export proceeds, payment of imports not received in Zimbabwe and funds banked in foreign banks in cash or under spurious circumstances. - The Herald.

EU poll team gets down to business

THE European Union ( EU) election exploratory team got down to business yesterday, meeting Chief Justice Luke Malaba and Secretary for Foreign Affairs and International Trade Ambassador Joey Bimha as part of its pre-election assessment.

The polls are expected to be held by the end of July.

President Mnangagwa has opened up electoral processes to ensure credible, free and fair elections, a move that has seen Government inviting the EU to observe the elections for the first time in 16 years.

Government has also granted other international observers, including the United Nations ( UN), the nod to monitor the elections. – The Herald.

Zim investor confidence grows

INVESTOR confidence towards Zimbabwe has grown positively under the administration of President Mnangagwa, a recent poll by respected

US consultancy firm Frontier Strategy Group has revealed.

Zimbabwe, the consultancy firm said, had jumped to fourth on the list of countries in Southern Africa where Africa-focused leaders of multinational firms see the best opportunities whereas under the Mugabe administration, Zimbabwe did not feature at all as an investment destination.

Since assuming office, President Mnangagwa has burnt the midnight oil to improve the ease of doing business in Zimbabwe and market the country as an attractive investment destination, a development that even those of honest disposition in MDC-T have lauded. — The Herald.