Zim loses US$9b to corruption

ZIMBABWE has for the past five years lost about US$9 billion to corruption with the country only managing to recover a measly US$100 million in assets of the looted funds, it has emerged.

With Zimbabwe’s national budget averaging US$4,5 billion in recent years, it means that the US$9 billion lost to corruption in the last five years was enough to cover the country’s needs for two years.

Speaking at a Financial and Asset Recovery training workshop for law enforcement officers in Harare yesterday, Prosecutor-General Justice Loyce-Matanda Moyo said corruption had become endemic in Zimbabwe.

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