ED offers lifeline

By Ndafadza Madanha

PRESIDENT Emmerson Mnangagwa has pronounced a three month window for those who externalized funds to bring them back without facing arrest.

In a statement the president said those keen on returning the funds should liaise with the Reserve Bank of Zimbabwe.

“As a first step towards the recovery of the illegally externalized funds and assets, the Government of Zimbabwe is gazetting a three month moratorium within which those involved in the malpractice can bring back the funds and assets with no questions being asked or charges preferred against them.

The period of this amnesty stretches from 1st December 2017 to end of February 2018. Affected persons who wish to comply with the directive should liaise with the RBZ for necessary facilitation and accounting,” read the statement.

Meanwhile the Zimbabwe Stock Exchange (ZSE) which was on a free fall since the intervention of the military in the political arena has responded positively to the swearing in of President Emmerson Mnangagwa last week.

In its first day of trading after inauguration of Mnangagwa the industrial index was up almost 5 percent to close at 333 points from its previous position.

During the week long military intervention the stock market plummeted shedding close to US$6 billion as investors adopted a wait and see attitude.

Analysts say the rally in the industrial index yesterday was on account of the positive inaugural speech by Mnangagwa which underscored the need for sweeping reforms to kick start the ailing economy.

Mnangagwa also promised to tackle corruption and reengage the west to left sanctions imposed on Zimbabwe.

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