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Zimbabwe Losing US$1 Billion Annually To Corruption - ZIMCODD

Zimbabwe Losing US$1 Billion Annually To Corruption - ZIMCODD

The Zimbabwe Coalition on Debt and Development (ZIMCODD) says Zimbabwe is losing at least $1 billion annually to corruption.

In a statement commemorating the 20th anniversary of International Anti-Corruption Day (9 December 2022), ZIMCODD said corruption has exacerbated the hardships being experienced by Zimbabweans. It said:

Of key concern to our movement, corruption remains a cancer that exerts pressure on economic indicators thereby increasing inequality, poverty and derailing development outcomes.

In Zimbabwe, graft and impunity have worsened the plight of citizens to a level where hospitals have no supplies, education is a preserve of the rich, Illicit Financial Flows are high, the debt stock is rising and we are falling back on Sustainable Development Goals.

While commitments have been made over the last few decades to meaningfully reduce graft, especially by the 2nd Republic, the crisis continues due to a lack of integrity, especially in public office, impunity, and corporate greed amongst other factors.

Besides the country losing at least $1 billion annually to corruption, ZIMCODD also said 82 percent of government spending has financial irregularities.

It said Zimbabwe loses gold worth $1.5 billion per year due to smuggling. ZIMCODD said:

54% of Zimbabweans in a study by Transparency International Zimbabwe noted that they had been asked to pay a bribe within the last 12 months while accessing a public service.

ZIMCODD has recommended the capacitation of key anti-graft institutions and Parliament, the breaking of cartels that have captured the state, as well as imposing civil penalties for bribery, among others.

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