Tanzania: State Asked to Seek World Bank Support in Recovering Stolen Money, By Christoper Majaliwa, Tanzania Daily News (Dar es Salaam) via All Africa,1 November 2012

01 Nov

Dodoma — The government has been pushed to seek the World Bank’s support to help recover billions of shillings the country has lost through grand scandals by dishonest people including prominent politicians.

The leader of the official opposition in the National Assembly, Mr Freeman Mbowe, said that the country had performed poorly in its mission to recover funds stashed abroad by prominent personalities thus it was high time the country sought for Asset Recovery Unit of the World Bank to recover the funds.

“Tanzania has lost billions of shillings through illegal financial flows out of her borders. We have not been able to successfully recover stolen assets. Why can’t we engage global partners to help recover the assets?” Mr Mbowe querried.

The move comes a few months after it was disclosed that some corrupt individuals, including prominent business tycoons and some top government officials, have secretly stashed away more than 315.5bn/- ($196.87 million) in Swiss banks.

According to a report released by the Swiss central bank, Swiss National Bank in June, this year, Tanzania is among eleven African countries whose nationals have secretly stashed away millions of dollars in the country’s banks.

Mr Mbowe wanted the Prime Minister to tell the reason as to why the government despite the disclosure has failed to release the names of the people who engaged in the deal and appropriate action to be taken against them.

Mr Mbowe who is also a legislator for Hai on Chadema ticket, asserted that number of disloyal businessmen, retired of shillings to tax haven countries including Dubai, Grenada, Luxemburg, Mauritius, Switzerland, British Virgin Island. Mr Pinda said that the government was still probing the scandal and once investigations are complete, findings would be made public and the relevant measures to be taken.

The Speaker of the National Assembly Ms Anne Makinda reiterated that whoever has the names should stand firm and expose the culprits instead of waiting for the government to mention them.

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Posted by on November 1, 2012 in Uncategorized


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