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Gibson Mhaka
CABINET has given the green light to proposed amendments to three critical pieces of legislation aimed at enhancing the country’s financial integrity and security.
In his post-Cabinet media briefing on Wednesday, Minister of Information, Publicity and Broadcasting Services, Dr Jenfan Muswere said Finance Minister Professor Mthuli Ncube presented the proposed changes to the Money Laundering and Proceeds of Crime Act, the Suppression of Foreign and International Terrorism Act, and the Customs and Excise Act for Cabinet’s consideration.
“Cabinet considered and approved the Principles underpinning proposed amendments to the Money Laundering and Proceeds of Crime Act [Chapter 9:24], Suppression of Foreign and International Terrorism Act [Chapter 11:21] and The Customs and Excise Act [Chapter 23:02], as presented by the Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Ncube.
“Zimbabwe subscribes to the international standards on combating Money Laundering, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction as set out in the Financial Action Task Force (FATF) Forty (40) Recommendations. Member countries are assessed periodically, to determine the extent to which they are implementing the FATF standards. Zimbabwe is due for the next round of assessment in 2026,” said Minister Muswere.
Dr Muswere said the proposed amendments on a number of Acts are meant to address remaining gaps in the country’s legal and institutional framework on combating Money Laundering, Financing of Terrorism and Financing of Proliferation of weapons of mass destruction.
“It is proposed that section 11 and 12 of the Money Laundering and Proceeds of Crime Act [Chapter 9:24] be amended. Amendments to section 11 and 12 of the Money Laundering and Proceeds of Crime Act will also necessitate amendments to sections 27 and 55 of the Customs and Excise Act, so that the two Acts are aligned,” said Minister Muswere.
Cabinet has also approved the report on the second Africa Education Summit and the hosting of the third Africa Education Summit in 2025. The report was presented by the Minister of Primary and Secondary Education Torerai Moyo.
The second Africa Education Summit 2024 was held under the theme “Entrepreneurship and Skills Development in the 21st Century Education System: The African-European Perspectives”.
“The Summit made a clarion call for Governments, civic society organisations and international partners to prioritise investments in education infrastructure, teacher training, and targeted support for marginalised groups.
“The Summit also identified the need for a paradigm shift in education systems towards a knowledge-based economy, driven by technological advancements and globalization and the re-imagining of education curricula to foster creativity, problem-solving, critical thinking, adaptability and pursuing innovative solutions to complex challenges. Hon. T. Moyo received the Africa Educationist Award of the year at the Second Summit,” said Dr Muswere.
Minister Muswere said the organiser of the 2nd Africa Education Summit, Global Skills Hub, United Kingdom formally requested Zimbabwe to host the 3rd Africa Education Summit in 2025 under the theme “Translating our Educational Advancement to Continental Development”.
“Hosting of the Summit has the potential to bring investors in the education sector to Zimbabwe as well as boost tourism during the Summit,” said Dr Muswere.
Online Reporter