Regulators are investigating suspicious financial activities involving faith-based organizations and international entities operating in Zimbabwe.
Zimbabwe's Financial Intelligence Unit (FIU) is investigating potential illicit financial flows through faith-based and international organizations operating in the country. The FIU's 2025 annual report indicates that charitable donations and project funding may be disguised to conceal terrorist financing. Investigations are ongoing into suspected attempts to use local individuals to move funds under the guise of legitimate charitable and development activities.
The agency did not disclose the number of organizations under scrutiny or the amounts involved, but the revelations come amid increased attention on substantial sums flowing into religious bodies. The FIU has also referred intelligence to the Zimbabwe Anti-Corruption Commission concerning suspected corruption and money laundering, including government officials acquiring assets inconsistent with their declared income and companies moving funds out of the country without proper acquittal.
The investigations also revealed patterns of companies failing to account for funds transferred to foreign accounts within the prescribed 90-day period, and some companies allegedly depositing hard cash directly into foreign-domiciled bank accounts. These findings highlight concerns about the potential exploitation of institutions traditionally associated with charity for concealing illicit financial movements.
Why it mattersFaith-based organizations and international entities in Zimbabwe are being investigated for potentially facilitating illicit financial flows, impacting the integrity of charitable and development funding.
Read in ASJ →Former FIFA secretary-general Fatma Samoura says Zimbabwe needs bankable projects, not just government funding, to attract private capital for sports infrastructure.
Fatma Samoura, former FIFA secretary-general and now an Advisory Board member of the African Collaborations Group (ACG), has urged Zimbabwe to develop commercially sustainable sports facilities to attract private and institutional investment. Samoura stated that the country's infrastructure challenges stem not from a lack of money, but from a deficit of projects that investors can confidently finance. Zimbabwe has long struggled with facilities unable to host major international events, with several stadiums previously failing to meet international standards.
Samoura proposed that the solution lies in a new business model for sports infrastructure, moving beyond government-funded refurbishments. She highlighted the ACG's Victory District model, which advocates for integrated sport and entertainment developments designed for year-round revenue generation, rather than relying solely on matchdays. This approach aims to create an "infrastructure ecosystem" where sport functions as a genuine economic sector.
According to Samoura, implementing such a model in Harare could yield significant benefits, including job creation, tourism boosts, enhanced athlete development, and a consistent calendar of sporting and entertainment events. She emphasized the need for transparent regulatory frameworks for public-private partnerships and government willingness to grant mandates to credible development partners, ensuring projects can become self-sustaining rather than dependent on public subsidies.
Why it mattersInvestors are affected because the lack of bankable projects prevents them from deploying allocated funds into Zimbabwe's sports infrastructure.
Read in ASJ →The financial institution aims to embed sustainability into its core operations and decision-making processes, strengthening its support for enterprise development.
CBZ Bank has received a Sustainability Certification as it integrates environmental and social considerations into its business strategy. CBZ Holdings announced the certification on Friday, stating it will enhance the bank's capacity to foster enterprise development and investment within Zimbabwe.
The bank acknowledges its significant role in shaping the economy through capital allocation and investment choices. CBZ Holdings emphasized that sustainability must be central to the bank's governance, business practices, and value creation for stakeholders, moving beyond peripheral considerations.
This certification provides a framework for CBZ Bank to leverage its financial strength and market position to contribute to enterprise growth and investment, supporting the long-term economic competitiveness of Zimbabwe. The bank views this as a foundational step, not an endpoint, with future impact to be measured by its success in strengthening businesses and creating lasting value.
Why it mattersCBZ Bank's new sustainability certification aims to strengthen its ability to support enterprise development and investment, potentially benefiting businesses and the broader Zimbabwean economy.
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