The Times of Tanzania
Eastern Africa News Network, Breaking News Tanzania

Africa Starts reclaiming all wealth stolen from the continent by corrupt leaders and buried Overseas

Money stolen from African countries and stashed in overseas vaults will now be reclaimed and streamed back into the continent

Official reports from the ‘African Union Advisory Board against Corruption (AUABC),’ whose members are converging in Tanzania, reveal that the mostly liquid assets in the process of being recovered apply even to the swindled cash and valuable minerals hidden in numbered Swiss Accounts.

Clarifying the issue, the Chairperson of the AUABC Seynabou Ndiaye Diakhate said the board has already set proper guidelines for the recovery of illicit acquired assets from the African Continent, that were smuggled abroad by leaders, their relatives or accomplices and other influential people in the member countries.

“And most countries are very cooperative which means eventually much of the stolen treasures will be recovered and restored back to the states where they were looted from in the first place,” stated the Board Chair, Seynabou Diakhate.

She was speaking at the threshold of the 45th Ordinary Session of the African Union Advisory Board against Corruption Activity which concluded on November 28, 2023 in Arusha.

The sessions, among other things, considered the report of the bureau, Re-distribution of country rapporteurs, Work plan progress report and the update on the Common African Position on Asset Recovery (CAPAR), as well as reviewing the Report from Egypt, among others.

For many years since their respective independences, many African countries have experienced their domestic treasures being siphoned out of borders to overseas destinations where a number of leaders on the continent have been known to be concealing their looted wealth.

The Board which has been conducting its 45th Ordinary Session in Arusha, between November 20 and 28, 2023, has assured that that many African countries have been cooperating towards this end as well as taking steps towards curbing corruption or at least reducing cases of draft within and without their borders.

“Tanzania for instance, was among the first to establish the national anti-graft body in the form of the Prevention and Combating of Corruption Bureau (PCCB),” said the Chairperson.

But among the agendas, the Board reported to have been taking key interest in pioneering the Common African Position on Asset Recovery (CAPAR) and collaboration with other key stakeholders in the fight against Corruption.

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