{"id":107192,"date":"2025-04-17T11:24:44","date_gmt":"2025-04-17T09:24:44","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals"},"modified":"2025-04-22T22:51:31","modified_gmt":"2025-04-22T20:51:31","slug":"corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals","title":{"rendered":"Corruption And Financial Leakages Bleed Zimbabwe Of Billions, Report Reveals"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Transparency International Zimbabwe (TIZ) said that the country is losing up to US$2 billion annually due to financial leakages, primarily driven by corruption and bribery of customs officials at borders.<\/p>\n

In its latest report, TIZ noted that the siphoned funds could have been channelled toward national development. Reads the report:<\/p>\n

Financial leakages at Zimbabwe\u2019s ports of entry are estimated to cost the country between US$1.8bn and US$2bn annually.<\/p>\n

These leakages occur primarily due to corrupt practices, including bribery among customs officials, which diverts funds that could be used for national development.<\/p>\n

Christopher Mugaga, CEO of the Zimbabwe National Chamber of Commerce (ZNCC), told Business Times that fiscal losses linked to corruption are estimated to range between US$1.2 billion and US$1.5 billion. Said Mugaga:<\/p>\n

These losses arise from tender inflation, tax evasion, and inefficient use of public resources, which severely impact the government\u2019s financial capacity.<\/p>\n

Former Finance Minister Tendai Biti has suggested that Zimbabwe could be losing over US$4 billion annually through smuggling and other forms of illicit trade. He said:<\/p>\n

We are losing US$1bn from tobacco smuggling, US$1bn from gold smuggling, and we are now possibly losing US$2bn on lithium alone.<\/p>\n

What we are losing in terms of illicit financial flows is more than what we get from diaspora remittances, which stand at US$1bn, and it\u2019s certainly more than what we receive in foreign aid and direct investment\u2014around US$200bn.<\/p>\n

For More News And Analysis About Zimbabwe<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Transparency International Zimbabwe (TIZ) said that the country is losing up to US$2 billion annually due to financial leakages, primarily driven by corruption and bribery of customs officials at borders. In its latest report, TIZ noted that the siphoned funds could have been channelled toward national development. Reads the report: Financial leakages […]<\/p>\n","protected":false},"author":84,"featured_media":107191,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,8,35,2715],"tags":[530,18311,18001,18310,19],"class_list":["post-107192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-corruption","tag-financial-leakages","tag-transparency-international-zimbabwe","tag-tzi","tag-zimbabwe"],"yoast_head":"\nCorruption And Financial Leakages Bleed Zimbabwe Of Billions, Report Reveals - zimbabwe<\/title>\n<meta name=\"description\" content=\"Transparency International Zimbabwe (TIZ) said that the country is losing up to US$2 billion annually due to financial l ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corruption And Financial Leakages Bleed Zimbabwe Of Billions, Report Reveals\" \/>\n<meta property=\"og:description\" content=\"Transparency International Zimbabwe (TIZ) said that the country is losing up to US$2 billion annually due to financial l ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-17T09:24:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-22T20:51:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/04\/sm_1744876840.70047.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Corruption And Financial Leakages Bleed Zimbabwe Of Billions, Report Reveals\",\"datePublished\":\"2025-04-17T09:24:44+00:00\",\"dateModified\":\"2025-04-22T20:51:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals\"},\"wordCount\":262,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/04\/sm_1744876840.70047.jpg\",\"keywords\":[\"corruption\",\"Financial Leakages\",\"Transparency International Zimbabwe\",\"TZI\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/corruption-and-financial-leakages-bleed-zimbabwe-of-billions-report-reveals\",\"name\":\"Corruption And Financial Leakages Bleed Zimbabwe Of Billions, Report Reveals - 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