Featured Zimbabwe

US Treasury Announces New Sanctions on Ally of Zimbabwe’s Mnangagwa

The U.S. Treasury has imposed financial sanctions on an alleged Zimbabwean government ally who it says used corruption to rake in millions of U.S. dollars. Kudakwashe Regimond Tagwirei and his company, Sakunda Holdings, were targeted Wednesday by the Treasury Department. “Tagwirei and other Zimbabwean elites have derailed economic development and… Read More

Zimbabwe accuses biggest phone company of money laundering

Zimbabwe’s police have accused Econet Wireless Ltd., the country’s dominant mobile phone company, of money laundering, demanded a list of its subscribers and issued a search warrant against it. The move escalates a clash between the government and company whose money transfer service facilitates the bulk of transactions in the… Read More

Amazon: Prime Time for Penalties

On July 8th, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with Amazon.com, Inc (“Amazon”) for a large number of violations across a wide spectrum of OFAC’s sanctions programs (the agreement published by OFAC lists 14 sets of regulations and Executive Orders). While the total amount… Read More
23rd June 2020
Zimbabwean authorities say people who cannot explain where their wealth came from are in danger of having their assets seized even if courts clear them of a corruption allegation. The new operation was “an intensive lifestyle audit” of the rich, said the chairman of Zimbabwe’s anti-corruption commission Justice Loyce Matanda-Moyo. Read More
29th May 2020
Zimbabwe’s central bank imposed limits on the amounts banks may transfer via a payment platform with 2 million users, as it tries to curtail illicit transactions and money laundering that it claims contributed to a currency rout. In a letter dated May 27 and seen by Bloomberg, the central bank’s… Read More
7th May 2020
The European Commission aims to intensify its scrutiny of states posing money-laundering risks, and is looking into creating a new body to help police financial crime and monitor banks more strictly, draft documents seen by Reuters show. One document, expected to be published on Thursday, adds Panama and other countries… Read More
14th April 2020
According to the Zimbabwe Parks and Wildlife Management Authority (ZimParks), 322 elephants were killed by poachers between 2016 and 2019, largely for their tusks. These are then shipped out to Asia, via South Africa, but the real number may be much higher, according to wildlife groups. Much of the poaching… Read More
30th March 2020
It is a sad fact that, even today, enforcement action against the illegal wildlife trade (IWT) usually begins and ends with a seizure of illegal wildlife products. Financial investigations – routine for other serious crimes – are seldom undertaken for IWT. In recent years, however, a growing consensus has… Read More
30th March 2020
The Securities and Exchange Commission of Zimbabwe (SECZ) has launched an investigation into suspected illicit activities surrounding trading in fungible stocks linked to three listed companies — Old Mutual, PPC Limited and Seed Co International. Government recently suspended the fungibility of the stocks. Fungibility means that shareholders from the three… Read More
12th March 2020
The U.S. blacklisted two Zimbabwean officials for alleged human rights violations, the U.S. Treasury Department said. The officials, Anselem Sanyatwe and Owen Ncube, allegedly were involved in directing an attack on peaceful demonstrators and political opponents in Zimbabwe, the Treasury said. The designations followed the blacklisting of Messrs. Sanyatwe and… Read More
24th February 2020
Britain is preparing to reimpose sanctions on Zimbabwean dictator Robert Mugabe’s widow at the end of the year after the Government disagreed with an EU decision to ease restrictions on her finances. The Government suspended an order freezing assets of Grace Mugabe, 54, following an EU decision earlier this… Read More
16th December 2019
Zimbabwean authorities arrested the wife of Vice President Constantino Chiwenga on charges of money laundering, fraud and violating exchange control regulations, the country’s anti Corruption Commission (ZACC) said on Sunday. Marry Mubaiwa was arrested on Saturday evening and will likely appear in court on Monday, ZACC spokesman John Makamure said. Read More
25th October 2019
Sanctions programs levied on some Sub-Saharan African countries could be made more effective by targeting specific networks rather than comprehensive sanctions against an entire country, a new report says. The report, published by policy advocacy group The Sentry on Thursday, evaluates the effectiveness of sanctions programs currently or previously… Read More