Zimbabwe losing $1 billion a year to corruption: report
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
President of Zimbabwe Robert Mugabe and his wife Grace greet supporters of his ruling ZANU (PF) party at Harare International Airport, Zimbabwe, September 24, 2016. REUTERS/Philimon Bulawayo
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
HARARE (Reuters) - Zimbabwe is losing at least $1 billion annually to corruption, with police and local government officials among the worst offenders, Transparency International said in a report on Tuesday.
Social media groups like #ThisFlag and #Tajamuka have cited corruption in President Robert Mugabe's government and police roadblocks where money is taken from motorists as among the main reasons for protests that have rocked the southern African nation in the last few months.
Transparency International Zimbabwe (TIZ) said the police, local councils, the vehicle inspection department that issues driving licenses and the education department were among the most corrupt institutions.
"The resulting institutionalization and systematization of corruption in Zimbabwean political and economic spheres has been extensive," TIZ said.
"It would be surprising if the value (of corruption) were less than $1 billion annually."
Police spokeswoman Charity Charamba said she could not immediately comment.
Critics and the opposition accuse Mugabe of failing to tackle high-level graft and say endemic corruption is one reason foreign companies are hesitant to invest in the country.
Mugabe has at times admitted to corruption among his cabinet ministers but says police lack the evidence to prosecute.
"It could be true there could be corruption but we don't have people who are prepared to give evidence," Information Minister Christopher Mushohwe said in response to questions about the report.
"Give us the evidence and the law will take its course."
Zimbabwe was last year ranked 150th out of 168 countries on the Transparency International index, which measures public perceptions of corruption in public institutions.
Corruption mainly consists of public officials demanding bribes for basic services like installing an electricity meter, approving a house plan to facilitating investment.
Zimbabwe's tax authority in May suspended its head and five managers in connection with the purchase of luxury cars that were undervalued by a local dealer, one of few high-ranking graft cases to be made public in recent years.
(Reporting by MacDonald Dzirutwe; Editing by Joe Brock and Hugh Lawson)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China to prosecute former Tianjin mayor for suspected graft
- Trump says he respects CIA in his first visit to headquarters
- Chief of Taiwan's Foxconn says rise of protectionism unavoidable
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!