By Munyaradzi wekwaChivi
Harare – During a post-Cabinet media briefing, Zimbabwe’s Minister of Information, Publicity and Broadcasting Services, Dr. Jenfan Muswere, announced that the government has approved the principles for amending several key Acts to combat money laundering, terrorism financing, and the proliferation of weapons of mass destruction.
According to Dr. Muswere, “Cabinet considered and approved the Principles underpinning proposed amendments to the Money Laundering and Proceeds of Crime Act [Chapter 9:24], Suppression of Foreign and International Terrorism Act [Chapter 11:21] and The Customs and Exercise Act [Chapter 23:02], as presented by the Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Ncube.”
Compliance with International Standards
Dr. Muswere emphasized that Zimbabwe subscribes to the international standards on combating money laundering, financing of terrorism, and the financing of weapons of mass destruction, as set out in the Financial Action Task Force (FATF) Forty (40) Recommendations. He stated, “Member countries are assessed periodically to determine the extent to which they are implementing the FATF standards. Zimbabwe is due for the next round of assessment in 2026.”
Addressing Remaining Gaps
The proposed amendments to the various Acts are aimed at addressing the remaining gaps in the country’s legal and institutional framework on combating these illicit activities.
Alignment of Money Laundering and Customs Acts
Specifically, Dr. Muswere explained that the amendments to sections 11 and 12 of the Money Laundering and Proceeds of Crime Act [Chapter 9:24] will necessitate corresponding changes to sections 27 and 55 of the Customs and Exercise Act, to ensure the alignment of the two Acts.
Strengthening the Legal Framework
Dr. Muswere concluded, “The proposed amendments on a number of Acts are thus meant to address remaining gaps in the country’s legal and institutional framework on combating Money Laundering, Financing of Terrorism and Financing of Proliferation of weapons of mass destruction.”
The government’s move to strengthen its legal framework aligns with its commitment to comply with international standards and ensure Zimbabwe’s readiness for the upcoming FATF assessment in 2026.
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