Zimbabwean President Emmerson Mnangagwa said that less than half of the country’s estimated $1.42 billion believed to be illegally kept abroad has been brought back onshore, as a 90-day amnesty period ended.
Mnangagwa announced shortly after his swearing in as president in November that the money was to be repatriated. On Monday, he said that only $591 million had returned to Zimbabwe, adding that the individuals and companies who had ignored the amnesty would be named, and he would “ensure that those responsible for such illicit financial flows are brought to justice,” Reuters reported.
But despite the difficulty in repatriating cash, Zimbabwe’s latest economic and political developments indicate renewal.
Mnangagwa announced on Saturday that former British colony is to hold presidential and parliamentary elections in July, the first since former President Robert Mugabe was forced to resign in November.
“We are looking forward to very peaceful, transparent and harmonized elections,” he told reporters.
The move was welcomed by the United Nations, which, alongside the European Union and Japan, is helping facilitate the voter registration process. Mnangagwa has said that he would invite foreign observers to the vote. According to local press, European Union officials are in Zimbabwe’s capital Harare Monday on an assessment mission ahead of the vote.