THE United Kingdom has imposed an asset freeze and travel ban on Sakunda Holdings proprietor and Zanu PF benefactor Kudakwashe Regimond Tagwirei.
Tagwirei, President Emmerson Mnangagwa’s ally, was named
among four others when UK Foreign secretary Dominic Raab announced further
sanctions on individuals under Britain’s Global Anti-Corruption sanctions
regime.
The sanctions target cases of serious corruption which have
deprived developing countries of vital resources. The measures will also apply
to any companies owned or controlled by Tagwirei.
The UK has described Tagwirei’s profile stating: “Both
Sakunda and Tagwirei, as its CEO and owner, profited significantly from the
misappropriation of property at the expense of wider macroeconomic stability in
Zimbabwe, in one of the most serious incidences of corruption under the current
government.”
Raab accused Tagwirei of driving corruption in the country,
resulting in microeconomic instability.
According to the British government, Tagwirei “profited
significantly from the misappropriation of property at the expense of wider
macroeconomic stability in Zimbabwe, in one of the most serious incidences of
corruption under the current government.”
“His company, Sakunda Holdings, redeemed government of
Zimbabwe Treasury Bills at up to 10 times their official value. His actions
accelerated the deflation of Zimbabwe’s currency, increasing the price of
essentials, such as food, for Zimbabwean citizens,” it said.
Tagwirei was also placed on United States sanctions,
accused of corruption and abetting authoritarianism in Zimbabwe. For years, he
dominated the fuel industry before he moved to mining.
“The action we have taken today targets individuals who
have lined their own pockets at the expense of their citizens,” Raab said.
“The UK is committed to fighting the blight of corruption
and holding those responsible for its corrosive effect to account.
“Corruption drains the wealth of poorer nations, keeps
their people trapped in poverty and poisons the well of democracy.”
Tagwirei is one of five people on the second UK Global
Anti-Corruption sanctions list.
Others targeted are Alex Nain Saab MorĂ¡n and Alvaro Enrique
Pulido Vargas of Venezuela, Equatorial Guinea vice-president Teodoro Obiang
Mangue, Iraq’s Nineveh province governor Nawfal Hammadi Al-Sultan.
He said the sanctions would ensure the targeted individuals
would no longer be able to channel their money through UK banks or enter the
country.
The UK sanctions on Tagwirei: “The UK will impose asset
freezes and travel bans against these individuals to ensure they will no longer
be able to channel their money through UK banks or enter the country.”
Yesterday, the US welcomed the UK’s decision to slap the
five “corrupt individuals” with sanctions.
In a joint statement, Treasury secretary Janet Yellen and
Secretary of State Antony Blinken said: “We commend the UK’s actions today
against four corrupt individuals already designated by the US and a fifth whose
US-based assets purchased with corrupt proceeds were successfully forfeited in
US courts.”
They added: “Corruption has a corrosive effect on society:
it undermines democratic institutions, hinders economic development, drains the
wealth of nations, and keeps people in poverty. The US is committed to working
with, and supporting, our partners and allies in the fight against corruption.
Today’s action by the United Kingdom is an important step in this effort.”
They said the US woulwd continue working with the UK and
other like-minded allies and partners to impose tangible and significant
consequences on those who engage in corruption, as well as to protect the
global financial system.
The UK’s action came just 49 days after US President Joe
Biden, issued a directive targeting corruption globally.
Biden, last month, took Presidential Action and issued a
“Memorandum on Establishing the Fight against Corruption as a Core United
States National Security Interest” making tackling corruption a national
security imperative.
Biden said: “I establish countering corruption as a core
United States national security interest … prevent and combat corruption at
home and abroad; and make it increasingly difficult for corrupt actors to
shield their activities.”
The action will lead international efforts to bring
transparency to the global financial system and close loopholes that undermine
democracy. Newsday
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