Media urged to expose detrimental impact of illicit financial flows on country’s economy

By Review and Mail Writer

The media has been called upon to uncover and bring to light the detrimental impact of illicit financial flows on the economy of the country.

During a workshop titled “The Impact of Illicit Financial Flows on Zimbabwe and the Role of the Media,” Golden Maunganidze, the board chairperson of Misa-Zimbabwe, emphasized the crucial role journalists play in addressing this widespread issue affecting the nation and the world at large.

Maunganidze emphasized that for the media to have a significant impact, it is essential to work professionally in collaboration with key stakeholders.

He further stated that illicit financial flows are not solely a problem in Zimbabwe, but rather a transnational issue that requires both local and international efforts to combat.

These illicit financial flows are made possible through global networks involving banks, businesses, and companies that evade financial regulations, sometimes with the cooperation and support of governments.

According to Maunganidze, these illicit financial flows undermine countries by diverting funds that should be allocated to industries, agriculture, education, healthcare, social services, and infrastructure development.

To effectively address stories related to illicit financial flows, Maunganidze emphasized the necessity of government support and commitment, along with the involvement of relevant experts, policymakers, parliamentarians, businesses, and civil society.

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