Online Reporter
Rutendo Nyeve Victoria Falls Reporter
ZIMBABWE’S anti-corruption and asset recovery efforts have yielded monumental results, with authorities forfeiting illicit assets worth US$41.5 million in the past year alone, while a further US$35 million remains under preservation, Prosecutor-General Justice Loice Matanda-Moyo has revealed.
The significant milestone, comprising real estate and high-value vehicles among other properties, was disclosed by the PG during her keynote address at the opening of the 16th Annual General Meeting of the Asset Recovery Inter-Agency Network for Southern Africa (ARINSA) in Victoria Falls recently.
Justice Matanda-Moyo attributed the success to a robust, multi-pronged approach and effective collaboration within the asset recovery value chain, involving various national agencies and regional partners.
“Through this multi-pronged approach and making use of effective collaboration within the asset recovery value chain, Zimbabwe has made substantial progress,” she said.
Justice Matanda-Moyo further explained that the forfeitures were achieved through a dual legal framework.
The primary engine has been the civil-based asset forfeiture regime under the Money Laundering and Proceeds of Crime Act, which allows the state to target property linked to crime without needing a prior criminal conviction.
“It enables our courts to forfeit tainted property without requiring prior conviction, the filing of specific charges, or even the presence of the respondent. It is a game-changer,” said PG Matanda-Moyo.
This was complemented by conviction-based forfeiture under other statutes like the Criminal Procedure and Evidence Act.
Justice Matanda-Moyo made reference to a – Prosecutor – General versus Phillip Tendenedzai, where authorities secured their first equivalent value confiscation order.
The tool allows the state to seize other property owned by a suspect equal to the value of illicit assets that cannot be physically located.
“This sends a clear message that even if you hide the actual money that you steal, we will come for whatever else you own to compensate for what you took,” she said.
…more to follow
