Court fines company for illegal methanol imports

Harare Magistrates' Court has convicted Prenuel Enterprises (Pvt) Ltd for unlawfully importing methanol valued at US$423,043.48 without approval from the Reserve Bank of Zimbabwe (RBZ).

The imports, which occurred between 2 January and 22 March 2025, were cleared at the port of entry by the Zimbabwe Revenue Authority (ZIMRA). However, investigators found that Prenuel Enterprises had not registered with RBZ Exchange Control as an authorised importer and had processed payments outside the formal banking system.

Represented in court by Zvikomborero Nyakutira (46), the company pleaded guilty and was fined US$3,500, or the ZiG equivalent, with payment required by 30 March 2026. The court warned that failure to pay the fine would result in the seizure of the company's property.

In a statement, the National Prosecuting Authority (NPA) reminded the business community that compliance with exchange control regulations is mandatory. "All import transactions must be conducted through the formal banking system to ensure transparency and adherence to national laws," the NPA said.