The National Prosecuting Authority of Zimbabwe, through its Asset Forfeiture Unit (AFU), has seized assets worth approximately US$51.5 million in a major operation targeting money laundering and gold smuggling syndicates.
Chief Prosecutor Chris Mutangadura said the unit is using the Money Laundering and Proceeds of Crime Act to track illicit wealth and ensure accountability, regardless of social status.
The operation targeted individuals suspected of accumulating wealth through illegal mineral trade and organized crime. Seized assets include luxury properties in Harare’s northern suburbs, gold bullion, and fleets of high-end vehicles.
Authorities executed several of the seizures using “Unexplained Wealth Orders,” which compel individuals to justify the source of their wealth or risk forfeiture to the state.
Investigations indicate that gold has been smuggled primarily to Dubai and South Africa, bypassing official channels such as the Fidelity Gold Refinery.
Estimates suggest Zimbabwe loses between US$1.5 billion and US$2 billion annually to gold smuggling. The government says recovered funds will be deposited into the Recovered Asset Fund at the Reserve Bank of Zimbabwe and redirected toward public infrastructure, including hospitals and schools.
