The Reserve Bank of Zimbabwe (RBZ) is offering a 5 percent reward to whistleblowers reporting on individuals and businesses hoarding, selling or illicitly funneling cash out of the country, RBZ governor John Mangudya recently announced. Zimbabwe has been experiencing an acute shortage over banknotes since April last year, overwhelming banks and customers alike. Other efforts to counter this issue, such as encouraging the use of plastic money and electronic payments, have not shown the strong results they hoped.
“A reward equivalent to 5 percent of the reported and recovered cash amount will be offered by the Bank. Information provided to the Bank shall be kept in confidence between the informant and the Bank,” stated Mangudya.
So many fear reporting acts of corruption as it could come back to harm them or their families if the wrong people find out. This financial incentive provided by the RBZ, as well as the promise that information will remain confidential, encourages the people of Zimbabwe to come forward and stand up for what is right. In a time where corruption is pervasive in so many African countries, this is a step in the right direction.
Read more on the RBZ’s new strategy to fight corruption here.