Billions Of Looted Shilling Offshored By Corrupt Government Officials, Politicians Over Years

Money in billions has been offshored from Tanzania in illegal ways over the years. Those are looted in the country through various scandasl such as EPA Account, Tegeta Escrow Account, BAE Systems Radar scandal, Mereremeta and Mwananchi Gold.

Between 2005 and 2006 about Sh133 billion was irregularly paid by Bank of Tanzania to dozen of firms under External Payment Arrears Account rip-off. Conversions of the money into USD tumbled down the value of shilling in 2006.

In 2008 the £28-million radar purchase scandal came to notice in which UK’s BAE Systems Company paid huge money to middleman and government officials in the country to get the deal done.

In 2014 misappropriation of $6 million and $118 million were also highlighted from Mwananchi Gold and Mereremeta scandals respectively. Then about Sh306 billion was paid to several individuals from Tegeta Escrow Account. Politicians and government officials were found involved in the deal.

The list of such corruptions is long.

It is strongly believed several government officials and politicians in the country use names of other people to hide their wealth.

Bubelwa Kaiza, executive director of the Concern for Development initiatives in Africa, said Tanzania has a trend in which top leaders steals by using Tanzanians of Asian origin as middlemen who work as proxies.

He added, “It is nearly impossible to find the name of any Tanzanian leader or former or politician directly implicated in the leak or any of such nature.”

A tax expert meanwhile said local accountability organs must probe individuals and firms of Tanzanian origin as leaks from Panama Papers are just tip of an iceberg.

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