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Bulawayo council staff caught in illegal forex deals
Bulawayo City Council (BCC) has revealed that several of its employees have been implicated in illegal foreign currency exchange dealings, further fueling public frustration over poor service delivery...Published: 05 Apr 2025 at 13:20hrs | 1343 | by Staff reporter
Illegal forex trader shot and robbed in Bulawayo
Bulawayo has been hit by a rise in violent crime, with an illegal foreign currency dealer becoming the latest victim after being shot and robbed of thousands of US dollars by an armed assailant on Mon...Published: 26 Mar 2025 at 06:50hrs | 681 | by Staff reporter
Police probe NSSA boss over RTG extortion plot
NSSA chairman, Emmanuel Fundira was on Wednesday questioned by the police in connection with an extortion case involving former Rainbow Tourism Group (RTG) senior employee Paula January.The de...Published: 18 Mar 2025 at 10:45hrs | 638 | by Nathan Guma
NSSA chair implicated in extortion case
National Social Security Authority (NSSA) chairman Emmanuel Fundira was questioned by police on Wednesday in connection with an extortion case involving former Rainbow Tourism Group (RTG) senior emplo...Published: 17 Mar 2025 at 09:37hrs | 465 | by Staff reporter
NSSA chairman embroiled in underhand Rainbow Tourism Group takeover bid
NATIONAL Social Security Authority (Nssa) chairman Emmanuel Fundira, who is former chairman of African Sun Limited, and an ex-Rainbow Tourism Group (RTG) senior executive Paula January are accused of ...Published: 18 Feb 2025 at 20:01hrs | 1546 | by NewsHawks
The 'torn' money-buying brigade: A hustle for survival in Zimbabwe
For many in Zimbabwe, especially those navigating the streets of Harare, torn or worn-out money has become more than just a nuisance - it's an opportunity for survival. One such individual, 30-year-ol...Published: 27 Nov 2024 at 07:05hrs | 388 | by Staff reporter
BCC proposes forex fines for illegal dumping of waste
Bulawayo City Council (BCC) is contemplating a policy requiring fines for illegal dumping to be paid in foreign currency, in a bid to curb the growing problem of environmental pollution and to enhance...Published: 24 Nov 2024 at 10:08hrs | 61 | by Staff reporter
Zimbabwe's government: The biggest threat to its own currency
The Reserve Bank of Zimbabwe's (RBZ) recent decision to devalue the Zimbabwean Gold (ZiG) by 50% has left the nation reeling. Overnight, the currency's value plummeted from 14 to 23.4 against ...Published: 29 Sep 2024 at 15:25hrs | 3372 | by Tendai Ruben Mbofana
Zimbabwe central bank bites back
This year, authorities in Zimbabwe have recorded over 1,100 cases of debit card abuse linked to backstage black market dealers, highlighting the ongoing challenges of a protracted currency crisis. The...Published: 20 Sep 2024 at 09:35hrs | 6198 | by Staff reporter
Chiwenga 'hits' back at Mutsvangwa
Vice-President Constantino Chiwenga appeared to respond to Zanu-PF spokesperson Christopher Mutsvangwa during the Defence Forces Day commemorations at Rufaro Stadium on Tuesday by refusing to sha...Published: 16 Aug 2024 at 08:44hrs | 7515 | by Staff reporter
2 more forex dealers jailed
TWO more illegal foreign currency dealers arrested by police, while changing money have been sentenced to effective terms of three months in jail.Kudakwashe Welcome Maketo (24) and Ishmael Mun...Published: 09 Aug 2024 at 07:30hrs | 236 | by Staff reporter
Black-listed govt suppliers face arrest
The Zimbabwean government is set to freeze the bank accounts of 51 suppliers blacklisted for illegal foreign currency dealings. Information, Publicity, and Broadcasting Services permanent ...Published: 03 Aug 2024 at 12:53hrs | 200 | by Staff reporter
Fresh blitz against illegal forex dealers in Zimbabwe
The police and the Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) have initiated a crackdown on illegal currency traders. This week, numerous money changers were arrested, with many stil...Published: 26 Jul 2024 at 06:33hrs | 494 | by Staff reporter
Finance Ministry blacklists 51 govt suppliers
The Treasury has blacklisted 51 government contractors for engaging in black market activities after receiving payments in local currency. Treasury boss Mthuli Ncube state...Published: 25 Jul 2024 at 12:48hrs | 878 | by Staff reporter
Airtime vendor mistaken for forex dealer, detained for 2 months
Tonderai Hove, a 31-year-old airtime vendor from Beitbridge, Zimbabwe, experienced a moment of relief as he was released from custody after two months. Magistrate Takudzwa Gwazemba ordered his release...Published: 30 Jun 2024 at 18:26hrs | 3 | by Staff reporter
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?Ever since the Zimbabwe government announced a new currency on 5th April 2024, they have never ceased bragging over...Published: 26 Jun 2024 at 20:56hrs | 5 | by Tendai Ruben Mbofana
Zimbabwe goes after social media foreign currency dealers
The Financial Intelligence Unit (FIU) says it has been monitoring social media platforms where foreign currency dealers have been advertising and promoting their illegal trade.The FIU claims t...Published: 20 Jun 2024 at 14:34hrs | 9 | by Staff reporter
Bogus cop arrested for bashing suspected illegal forex dealer
A phony police officer, identified as Kundai Taruvinga (29), was apprehended while assaulting a Harare man suspected of engaging in illegal foreign currency trading. The incident took place at...Published: 10 Jun 2024 at 08:44hrs | 3 | by Staff reporter
Mutsvangwa's son will learn his fate today
Today, the High Court is set to deliver a verdict on the bail application of Neville Mutsvangwa, son of Zanu PF spokesperson Christopher Mutsvangwa, who faces charges of illegal foreign currency deali...Published: 22 May 2024 at 10:07hrs | 12 | by Staff reporter
'Forex dealer' granted bail
Rangarirai Chimbamba, an alleged illegal foreign currency dealer, has been granted bail by the Harare High Court.According to the National Prosecuting Authority of Zimbabwe (NPAZ), Chimbamba h...Published: 21 May 2024 at 08:16hrs | 6 | by Staff reporter
No holy cows in Zimbabwe's forex violations blitz
Zimbabwe's Financial Intelligence Unit (FIU) and the police delivered a firm message yesterday, emphasizing that in the nationwide crackdown on individuals and entities breaching the Exchange Control ...Published: 18 May 2024 at 12:25hrs | 19 | by Staff reporter
Mutsvangwa's son approaches High Court for bail
Neville Mutsvangwa, son of ZANU-PF spokesperson Christopher Mutsvangwa, sought bail from the High Court yesterday on charges of illegal foreign currency trading and money laundering.Earlier th...Published: 18 May 2024 at 11:02hrs | 6 | by Staff reporter
Mutsvangwa's son to spend second weekend in custody
Christopher Mutsvangwa's son Neville will remain in remand prison for another weekend as the High Court has reserved judgment on his bail appeal. Mutsvangwa faces three charges of illegal foreign curr...Published: 18 May 2024 at 10:49hrs | 16 | by Staff reporter
Mthuli Ncube pleads for patience on ZiG
FINANCE minister Mthuli Ncube has pleaded for patience with the recently introduced Zimbabwe Gold (ZiG) currency amid an uproar from the public over the disruptions it has caused to transactions....Published: 12 Apr 2024 at 09:51hrs | 2 | by Staff reporter
'ZRP forex dealers days numbered'
The police have issued a warning about cracking down on their own members involved in illegal foreign currency trading on the streets. National police spokesperson Assistant Commissioner Paul Nyathi m...Published: 31 Oct 2023 at 05:50hrs | 3 | by Staff reporter
'Armed robber' in court for 'killing' policeman
A MAN who allegedly fatally shot a police officer in Bulawayo's New Luveve suburb appeared in court on Friday facing a murder charge.Ntabiso Ncube (43) of Lobengula West suburb in Bulawayo sus...Published: 11 Jul 2023 at 07:38hrs | 13 | by Staff reporter
Forex rate premium falls
THE parallel market exchange rate premium has fallen below 50 percent, as policy interventions by the Government continue to drive appreciation of the Zimbabwe dollar, but pockets of resistance remain...Published: 02 Jul 2023 at 07:37hrs | 11 | by Staff reporter
Jonathan Moyo issues a warning
EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to crack down on businesses over price hikes will only worsen the already dire situati...Published: 29 May 2023 at 06:41hrs | 1 | by Staff reporter
Bulawayo police descend on money changers
POLICE in Bulawayo have warned members of the public to desist from illegally dealing in foreign currency as they will face the full wrath of the law.Bulawayo police spokesperson Inspector Abe...Published: 24 May 2023 at 06:00hrs | 10 | by Staff reporter
Zimbabwe police raid illegal forex dealers, retrieve 11 POS machines
POLICE in Bulawayo have raided illegal foreign currency dealers and arrested six suspects linked to the abuse of Point of Sale (POS) machines to carry out illicit transactions.Bulawayo provinc...Published: 23 May 2023 at 21:16hrs | 13 | by Staff reporter
Cop, colleagues extort US$3,000 from Chinese businessman
A Zimbabwe Republic Police officer stationed at Rhodesville police station in Harare has been dragged to court facing charges of extorting US$3,000 from a Chinese national she accused of illegal forei...Published: 13 May 2023 at 20:59hrs | 3 | by Staff reporter
More contractors blacklisted over illegal foreign currency deals
The crackdown on companies that channel funds to the illegal foreign currency market has been widened, with 13 more firms being blacklisted for their involvement.In November last year, 19 comp...Published: 04 Apr 2023 at 06:21hrs | 1 | by Staff reporter
LISTEN: ZANU-PF MP in forex scam, implicates RBZ
Mazowe North lawmaker Campion Mugweni (ZANU PF) has disclosed that he was allegedly working with some officials at Treasury to engage in illegal foreign currency deals.In a leaked audio Mugwen...Published: 13 Mar 2023 at 16:37hrs | 3 | by Simbarashe Sithole
19 firms blacklisted for fuelling black market
NINETEEN contractors providing Government with goods and services have been blacklisted for channelling funds to the foreign exchange black market, Finance and Economic Development Minister Professor ...Published: 11 Nov 2022 at 05:02hrs | 5 | by Staff reporter
Businesses reject the $20 bill in Bulawayo
TRANSPORT operators and most shops in Bulawayo are now rejecting the $20 bill although it is still legal tender in the country.Only big supermarkets like OK Zimbabwe, PicknPay, Choppies, and S...Published: 10 Nov 2022 at 04:56hrs | 1 | by Staff reporter
Illegal forex dealer fined $10 million
Local company, Tererati (Pvt) Limited, involved in illegal foreign currency deals during 2020 in Harare using EcoCash agent lines, was fined $10 498 300 yesterday after admitting to making the illicit...Published: 27 Aug 2022 at 05:59hrs | 12 | by Staff reporter
Money changer survives 5000kv shock
A suspected illegal foreign currency dealer commonly referred to as osiphatheleni in Bulawayo is lucky to be alive after he was shocked by a 5 000 kilovolt electric shocker (taser) by a robber who wan...Published: 07 Aug 2022 at 08:20hrs | 2 | by Staff reporter
Errant contractors face blacklisting
Firms using money they earn from Government contracts to deal in the foreign currency black market will be blacklisted from future contracts, have the proceeds of illegal transactions confiscated, the...Published: 19 Jul 2022 at 06:07hrs | 1 | by Staff reporter
Blame game between govt, banks reaches tipping point
A NIGHT of long knives beckons for banks after Finance minister Mthuli Ncube accused them of driving the parallel market rate up, causing the sharp tumbling of the local currency.President Emm...Published: 23 May 2022 at 06:42hrs | 4 | by Staff reporter
'Mnangagwa will regret the day he appointed Mangudya, Mthuli Ncube,' says Biti
Former Zimbabwe Finance Minister Tendai Biti has said the move by the Reserve Bank to introduce a ZW$100 note is ill advised and a waste of time.Biti said the fact that the note can not buy an...Published: 09 Apr 2022 at 19:47hrs | 1 | by Staff reporter
Zimbabweans businessman caught in $200m money-laundering scam
A ZIMBABWEAN businessman based in South Africa has been arrested on money-laundering charges involving $200 million.The suspect, Bornface Mudzingwa (36), was yesterday arraigned before Harare ...Published: 21 Jan 2022 at 05:36hrs | 10 | by Staff reporter
RBZ bans bulk airtime sales
RESERVE Bank of Zimbabwe has banned on bulk airtime sales, ordering telecommunications service providers to stagger reduction of physical airtime sales to 10% in a bid to contain illicit foreign curre...Published: 26 Oct 2021 at 06:35hrs | | by Staff reporter
Zimbabwean bankers sweat over forex crackdown
Zimbabwean bankers are fretting over compliance with government directives to root out "illegal foreign currency dealings, with the country's biggest bank, CBZ, cautioning its employees against facili...Published: 17 Oct 2021 at 09:05hrs | 1 | by Staff reporter
'Arresting executives will destabilise market'
THE Confederation of Zimbabwe Industries (CZI) yesterday warned against the arrest of business leaders over alleged currency violations saying this will sour relations between government and business ...Published: 14 Oct 2021 at 06:24hrs | | by Staff reporter
'Forex rentals at blackmarket rates illegal'
PROPERTY owners and managers demanding rentals in foreign currency, without giving tenants an option to pay the equivalent in local currency using the auction rate, risk being arrested as the fight ag...Published: 14 Oct 2021 at 06:21hrs | | by Staff reporter
RBZ directs banks to detect currency abusers
THE Reserve Bank of Zimbabwe (RBZ) has directed banks to configure their automated transaction systems in order to implement robust mechanisms that detect the abuse of debit cards in facilitating ille...Published: 14 Oct 2021 at 06:20hrs | 5 | by Staff reporter
RBZ, business reach consensus on exchange rates, pricing
A number of agreements were thrashed out yesterday between the Reserve Bank of Zimbabwe and leaders of the business sector to deal with what everyone agreed were unjustified jumps in black-market exch...Published: 12 Oct 2021 at 05:55hrs | 13 | by Staff reporter
Mthuli Ncube threatens companies
Finance minister Mthuli Ncube resorted to threats yesterday as he battled to bring sanity to the foreign currency market.Ncube said the government was planning impromptu audits and to suspend ...Published: 08 Oct 2021 at 19:04hrs | | by Staff reporter
Govt threatens crackdown on businesses fuelling forex black market
GOVERNMENT has threatened to suspend operating licences for business entities manipulating the official foreign currency rate, thus fuelling the high parallel market exchange rate.In a stateme...Published: 08 Oct 2021 at 06:32hrs | 13 | by Staff reporter
Govt ups forex black market fight
GOVERNMENT is implementing a raft of additional measures to curb the illegal trading of forex and the benchmarking of prices using the parallel market rates, Finance and Economic Development Minister ...Published: 08 Oct 2021 at 06:26hrs | 2 | by Staff reporter
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