A just-released authoritative report says at least 99 Tanzanians hold a total of over 197.7 billion/- in Swiss bank accounts, making the country one of the top 100 in the world with the biggest amounts of money “hoarded” in Switzerland.
The report, “Explore the Swiss leaks data”, the work of an
international consortium of investigative journalists ranks a total of
203 countries with largest deposits in Swiss bank accounts. But there is no suggestion in the report that any of the amounts of
money cited are illegal deposits, some involving money laundering. The report says the maximum amount of money associated with a client in Tanzania is USD 20.8 million about 36.1bn/-.
However, based on the amount of money Tanzania is ranked 19th in
Africa, 100th globally and second in EAC after Kenya with 742 people
which have kept at least USD559.8 million. But based on the number of
people, Tanzania is ranked 75th globally. Uganda is the third with only 57 people that have kept 89.3 million
followed by Burundi with only 11 people who hold at least 29.4 million.
For Rwanda stands at USD 2.1 million.
In Africa, Egypt leads with the whopping USD 3.5 billion, followed
by South Africa with USD 2 billion, Morocco is the third with 1.6
billion, followed by Eritrea with 699.6 million, Algeria with 671.1
million, Kenya with USD 559.8 million followed by Tunisia with 554.2
million, Libya with USD 522.9 million, Zimbabwe is the ninth with USD
272.2 million and Nigeria is the 10th with 266.6million USD dollars.
Globally, Switzerland itself leads with some USD 31.2 billion,
followed by the United Kingdom with USD 21. billion, Venezuela is third
with USD 14.8 billion, United States of America (USA) holds the fourth
position with 13.4 billion and France is on the fifth position with 12.5
billion in Switzerland.
Reached for comment, Dr Bashiru Ally from the University of Dar es
Salaam (UDSM), Faculty of Political Science and Public Administration
said the issue of holding accounts overseas should not be politicised. He pointed out that the issue is a global phenomenon which calls for investment in knowledge.
“It is not a question of who holds the account where. We have to
understand how capitalism works and how to copy with it by tightening
the systems,” he said while noting it is interesting that politicians
simply take to the podium the matter without analysing it. According to him, the problem is partially as a result of opening
up the economy and financial system. He said the move leaves Tanzania’s
economy venerable just as it is in politics.
“We have less power to control the economy. Most developing
countries have not done much in controlling the economy. Even the so
called academicians have not done much to show the positive and dark
sides of capitalism. In countries like China investing in financial or
telecommunication sectors by foreigners is not easy,” he said.
The academician noted that even the issue of money being deposited
in overseas is being unveiled by the report and not Tanzania. This
could be as a result of less investment in knowledge and technology.
According to him, the public should know that capitalism is never
objective and therefore the need to understand it in depth and tighten
the systems. For his part, appointed Member of Parliament James Mbatia told this
paper in a telephone interview that the issue of Tanzania banking
overseas raises more questions that do not have answers. He said the questions range from ethics to the laws and systems, the intentions behind, the philosophy and the systems in place
He said the Founder of the Nation, Mwalimu Julius Kambarage Nyerere
believed in socialism but currently Tanzania’s ideology remains
unknown. Mbatia called on the public to always think globally but act
locally and at the same time should know the value for life and stop
being crocked.
He said it is not surprising that the Prevention and Combating of
Corruption Bureau (PCCB) is among leading public institutions in
corruption, allegedly involved in 29 per cent bribery ranking nationwide
according to recent report by Research on Poverty Alleviation (REPOA). For his part, Kigoma North MP, Zitto Kabwe, said the report in question is a good step in curbing corruption and tax invasion.
“It is a fundamental step in tackle tax avoidance and global
corruption. For Tanzania it will help put up more pressure on the
government to release a report on investigation following the private
motion on Swiss billions. People need to see names, names will obvious
come out because of what these investigative journalists have done,”
said Kabwe in his texted mobile message to this paper.
SOURCE:
THE GUARDIAN
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