News / National
Mohadi's company pricing services at black market rates
24 Nov 2018 at 11:39hrs | Views
Malindi Transit Shed (MTS), a Beitbridge-based company in which Vice President Kembo Mohadi is a major shareholder is charging storage fees for vehicles imported from Mussina in South Africa at black market rates much to the chagrin of importers.
Sources said MTS introduced the black market rates last month when the bond plunged against major currencies.
Mohadi confirmed the issue in a telephone interview but told The Mirror that he had since written to MTS management to desist from the practice because it was not justified. He said that he wrote the letter three days after the hike but is not sure whether management has reversed the increase.
Mohadi also told The Mirror that he was a mere shareholder at the company and therefore the responsibility for the hike did not lie with him but the company management. He invited The Mirror to come to his offices in Harare and collect the letter that he wrote to MTS management or visit the MTS in Beitbridge.
An MTS notice to importers that is in the hands of The Mirror says that storage fees is pegged in US$ and payments done in bonds, swipe or ecocash would vary in accordance with the prevailing market rates.
Several importers who called The Mirror last week expressed bitterness that Mohadi's company was violating the same policies put in place by his Government and milking poor Zimbabweans in the process.
One importer who requested anonymity showed The Mirror a receipt in which he paid 205 bond notes for three days from November 8, to November 10. He paid call in fees of $135, and two storage fees of $35 each which are all black market rates. The call in fees in US$ are $50 while the storage fees are $15.
"The Government pegs the US$ and the bond note at the rate of 1:1. I was therefore supposed to pay 50 bond notes for call in fees and 15 bond each for the two days for storage fees and this would have brought the total amount to 80 bond notes. However, because of the black market rates that they are charging I paid 205 bond instead," said the importer.
The two transit sheds, Malindi and Manica Africa bonded warehousewhich sorely make money through storage and handling fees are an extension of the border post and are used to process vehicle imports.
"This is so unexpected of a senior government official. These are the same people who say US$ dollars are equivalent to bond notes but they are found charging their services at black market rates. In a way, they regulate consumer spending and control prices to other businesses excluding theirs," said another importer.
Manica Africa, another warehouse bonded to ZIMRA is also charging storage fees at black market rates.
"I wrote a letter to MTS, three days after they made the new arrangement because what they are doing is not justified. I am not sure whether they have since reversed this but you can come to my office and collect my letter or get it from MTS in Beitbridge. Remember I am only a shareholder and I am not involved in the day to day running of MTS," said Mohadi.
Sources said MTS introduced the black market rates last month when the bond plunged against major currencies.
Mohadi confirmed the issue in a telephone interview but told The Mirror that he had since written to MTS management to desist from the practice because it was not justified. He said that he wrote the letter three days after the hike but is not sure whether management has reversed the increase.
Mohadi also told The Mirror that he was a mere shareholder at the company and therefore the responsibility for the hike did not lie with him but the company management. He invited The Mirror to come to his offices in Harare and collect the letter that he wrote to MTS management or visit the MTS in Beitbridge.
An MTS notice to importers that is in the hands of The Mirror says that storage fees is pegged in US$ and payments done in bonds, swipe or ecocash would vary in accordance with the prevailing market rates.
Several importers who called The Mirror last week expressed bitterness that Mohadi's company was violating the same policies put in place by his Government and milking poor Zimbabweans in the process.
One importer who requested anonymity showed The Mirror a receipt in which he paid 205 bond notes for three days from November 8, to November 10. He paid call in fees of $135, and two storage fees of $35 each which are all black market rates. The call in fees in US$ are $50 while the storage fees are $15.
"The Government pegs the US$ and the bond note at the rate of 1:1. I was therefore supposed to pay 50 bond notes for call in fees and 15 bond each for the two days for storage fees and this would have brought the total amount to 80 bond notes. However, because of the black market rates that they are charging I paid 205 bond instead," said the importer.
The two transit sheds, Malindi and Manica Africa bonded warehousewhich sorely make money through storage and handling fees are an extension of the border post and are used to process vehicle imports.
"This is so unexpected of a senior government official. These are the same people who say US$ dollars are equivalent to bond notes but they are found charging their services at black market rates. In a way, they regulate consumer spending and control prices to other businesses excluding theirs," said another importer.
Manica Africa, another warehouse bonded to ZIMRA is also charging storage fees at black market rates.
"I wrote a letter to MTS, three days after they made the new arrangement because what they are doing is not justified. I am not sure whether they have since reversed this but you can come to my office and collect my letter or get it from MTS in Beitbridge. Remember I am only a shareholder and I am not involved in the day to day running of MTS," said Mohadi.
Source - masvingomirror
