Chinese diamond mining company, Jinan, was the biggest externaliser siphoning more than $300 million out of the country according to the list of looters released today.
President Emmerson Mnangagwa gave externalisers three months and two weeks to return the funds but only $300 million was returned.
Mnangagwa said more than $1.3 billion was externalised.
He released a list of more than 1 000 externalisers today.
The externalisation is in three categories:
· Funds Externalised through Non Repatriation Of Export Proceeds
· Funds externalised through payment of goods not received in Zimbabwe
· Funds externalised to foreign banks in cash or under spurious transactions
A total of $237.5 million was externalised through non-repatriation of export proceeds, $124.8 million through payment of goods not received in Zimbabwe and $464.2 million through foreign banks in cash or under spurious transactions.
Jinan did not repatriate $11 million in export proceeds and externalised $332.98 million.
The company has already been a subject of inquiry by Parliament and was reported to have externalised $450 million.
Ironically China was the most popular destination of externalised funds.
Out of the 157 listed externalisers, 110 were to China, followed by Botswana with 12.
Gold miner, Metallon, was the second biggest externaliser. Though it is owned by South African Mzi Khumalo, $25 million and P13 million were externalised to Botswana.
Here is the list of those who externalised cash or through spurious transactions
Looters-externalisers_of_cash_to_foreign_banks
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