Zimbabwe : Companies fail to return loot

It is ironic that in a country that welcomed change after the removal of ageless tyrant, Robert Mugabe, hundreds of millions of pounds in stolen funds remain hidden in foreign accounts.

To this end, Zimbabwe's President Emmerson Mnangagwa has released the names of hundreds of companies and individuals who failed to return $827m (£590m) illegally stashed abroad despite an amnesty.

On assuming office last year Mr Mnangagwa gave individuals and companies 90 days to give up all stolen funds.

The president was able to confirm on Monday that this had resulted in $591m being returned, less than half the funds believed to be held abroad.

He went on to warn that those who fail to comply are at risk of prosecution.

Considering that Mr Mnangagwa promised to crackdown on corruption after being sworn into office last year, the president said he was left with no choice but to release the 1,800 names of unrepentant looters. These include manufacturers, miners, small businesses, state-owned entities and even churches.