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Foreign currency dealer shot, robbed
A foreign currency dealer was shot and robbed of US$2 000 on Tuesday evening in what police suspect was a targeted armed robbery, marking the second such incident in just over a month.Mr. Shad...Published: 24 Apr 2025 at 07:21hrs | 454 | by Staff reporter
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
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
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
Mnangagwa's govt to extend ZiG currency crackdown to shops
The government intends to expand its crackdown on street currency traders to include retailers, ensuring that goods and services are priced using only the official exchange rate of the new ZiG currenc...Published: 18 May 2024 at 12:38hrs | 16 | by Staff reporter
Foreign currency dealers ditch trading spots
MOST illegal money changers popularly known as "Osiphatheleni" have abandoned their traditional trading spots in Bulawayo following the launch by the Government of the new gold-backed currency, the Zi...Published: 09 Apr 2024 at 06:20hrs | 4 | 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
Zimbabwe-based Indian millionaire acquitted
A Zimbabwe-based Indian businessman tycoon Munir Kazi is now a free man after he was acquitted by the court on charges of defrauding foreign currency traders of US$765 000.Magistrate Vongai Mu...Published: 16 Feb 2023 at 06:57hrs | 1 | by Simbarashe Sithole in Harare
Zimbabwean court acquits Indian business mogul
HARARE Magistrate Vongai Muchuchuti-Guwuriro has acquitted Indian businessman Munir Kazi for allegedly swindling foreign currency dealers of US$765 000.Kazi and his co-accused Andre Hoffman ap...Published: 16 Feb 2023 at 04:55hrs | | 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
RBZ suspends Access Forex with immediate effect
THERE is a bloodbath in the financial services sector, with the Reserve Bank of Zimbabwe (RBZ) Monday shutting down yet another foreign currency dealership, Access Forex.The company announced ...Published: 25 Apr 2022 at 18:01hrs | | by Staff reporter
Headwinds piling up for Zimbabwe
The United States Agency for International Development (USAid)'s food security arm, the Famine Early Warning Systems Network (Fewsnet) has warned of below average harvests this year and a shortlived i...Published: 18 Mar 2022 at 05:37hrs | 1 | by Staf reporter
Zimdollar challenge thrown out
The challenge by a Harare lawyer to invalidate civil penalties imposed on businesses or individuals refusing to accept local currency suffered a stillbirth after the High Court threw out the applicati...Published: 24 Jan 2022 at 05:24hrs | 2 | by Staff reporter
RBZ dishes out US$6 million to 130 000 citizens
THE Reserve Bank of Zimbabwe (RBZ) has disbursed more than US$6 million to close to 130 000 people following Government's decision last month to promote financial inclusion and access to forex for sma...Published: 29 Oct 2021 at 08:11hrs | 5 | by Staff Reporter
Zanu-PF tense as factional intrigue overshadows upcoming conference
PRESIDENT Emmerson Mnangagwa will preside over a potentially heated Zanu-PF conference in Bindura next week amid bruising infighting in the Midlands and Masvingo, with the party leader expected to cra...Published: 23 Oct 2021 at 23:53hrs | 1 | by Staff reporter
Suspected robber cornered by a mob, beaten, dies at hospital
A man believed to be part of an armed robbers gang that has been terrorising Beitbridge residents has succumbed to assault wounds after he was cornered by a mob in Kwalu 1 suburb (SDP) early on Monday...Published: 18 Oct 2021 at 19:33hrs | | 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
Spate of armed robberies hit Beitbridge
BEITBRIDGE has been hit by a spate of armed robberies, with the latest victim losing over R1 million at the weekend.National police spokesman Assistant Commissioner Paul Nyathi yesterday confi...Published: 11 Oct 2021 at 06:00hrs | 3 | by Staff reporter
Mnangagwa's govt fears currency crisis may trigger social uprising
PRESIDENT Emmerson Mnangagwa's government is intensifying its sweeping crackdown on foreign currency traders in the volatile market amid growing fears of an exchange rate-driven economic meltdown, The...Published: 09 Oct 2021 at 07:24hrs | 2 | by Staff reporter
Forex blackmarket: More arrests loom
More people illegally dealing in foreign currency will soon be arrested and more financial institutions charged as Government cracks the whip against those driving and manipulating the black market de...Published: 07 Oct 2021 at 07:01hrs | 8 | by Staff reporter
RBZ takes forex rate war to the streets
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the apex bank will continue its crackdown against black market kingpins to rid the market of delinquent behaviour.In an interview wit...Published: 01 Oct 2021 at 08:05hrs | 1 | by Staff reporter
RBZ orders banks to freeze forex dealers' accounts
THE Reserve Bank of Zimbabwe (RBZ) has ordered banks and other financial services providers to immediately freeze accounts belonging to 30 nationals who are ring leaders of parallel market foreign cur...Published: 28 Sep 2021 at 20:04hrs | | by Staff reporter
Chiwenga fires warning shots
VICE President Dr Constantino Chiwenga has warned illegal foreign currency dealers over their gross financial misconduct that continues to disrupt the journey to prudent economic growth saying the lon...Published: 26 Sep 2021 at 20:03hrs | 8 | by Staff reporter
Forex dealers besiege Bulawayo City council revenue hall
FOREIGN currency dealers have besieged Bulawayo City council revenue hall, soliciting for cheap foreign currency from rate payers in exchange of Zimbabwe dollar which they pay council using electronic...Published: 06 Aug 2021 at 12:25hrs | | by Staff reporter
Mwonzora reported to ZACC over theft of party funds
INTRACTABLE MDC-T activist Patson Murimoga Friday reported his party president, Douglas Mwonzora to the Zimbabwe Anti-Corruption Commission (ZACC) alleging the Nyanga senator, working in cahoots with ...Published: 09 Apr 2021 at 23:01hrs | 4 | by Staff reporter
Police warn felons, rotten cops
ANGRY authorities vowed yesterday that they would hammer perpetrators of violent crime in the country, while also dealing ruthlessly with rogue police officers caught participating in criminal activit...Published: 21 Feb 2021 at 13:12hrs | 2 | by Staff reporter
Mr Cross: Silence cannot be misquoted
In September 2019, Finance and Economic Development Minister, Professor Mthuli Ncube, appointed a nine-member Monetary Policy Committee (MPC) to influence the Reserve Bank of Zimbabwe (RBZ)'s monetary...Published: 25 Jan 2021 at 08:28hrs | 1 | by Dr Tim Rainhard
57 000 gold panners arrested
Almost 57 000 gold panners, including machete gangs and other criminal elements, have been arrested in mining communities countrywide since January under the ongoing "Operation Chikorokoza Ngachipere"...Published: 12 Dec 2020 at 06:51hrs | 15 | by Staff reporter
EcoCash revenue continues to dwindle
CASSAVA Smartech Zimbabwe Limited's subsidiary EcoCash's revenue contributions to the group continue to dwindle following recent operating measures effected by the Reserve Bank of Zimbabwe (RBZ) to cu...Published: 02 Dec 2020 at 06:13hrs | 1 | by Staff reporter
Forex dealers in court
Six suspected foreign currency dealers yesterday appeared in court on allegations of using the EcoCash platform to buy US$3 153 317 from the public. The eight are Felix Tafadzwa Chikuse (38), ...Published: 13 Nov 2020 at 05:37hrs | 2 | by Staff reporter
Illegal forex dealers feel the pinch
Black market forex dealers are feeling the heat following a raft of monetary measures recently put in place by the central bank to halt the depreciation of the local currency which had fuelled a spike...Published: 05 Nov 2020 at 21:34hrs | 1 | by Staff reporter
Strict RBZ policies on EcoCash result in $2 billion tax revenue decline
GOVERNMENT'S tough decision to throttle leading mobile money transfer agent, Ecocash has backfired with the Zimbabwe Revenue Authority (ZIMRA) recording a $1.9 billion decline on the 2 % revenue tax c...Published: 27 Oct 2020 at 07:03hrs | | by Staff reporter
Illegal forex vending sucks in cops
GOVERNMENT efforts to eliminate illegal foreign currency dealers from the streets of Harare are being hampered by the involvement of some unscrupulous police officers in the illicit trade, The Herald ...Published: 18 Jul 2019 at 07:39hrs | | by Staff reporter
Let's embrace the Zimbabwean spirit of Ubuntu
Dear ZimbabweansSo prices of basic commodities are tumbling and the foreign currency dealers are kicking and screaming! Surely that's the Zimbabwe we want not this madness of profiteering and ...Published: 09 Jul 2019 at 10:03hrs | 3 | by Munya Shumba
11 000 touts, forex dealers arrested
Nearly 11 000 foreign currency dealers, touts and pirate taxi operators have been arrested since January this year during an ongoing operation being conducted countrywide. Most notable arrests...Published: 06 Jul 2019 at 10:02hrs | 1 | by Staff reporter
Big supermarkets castigated for overpricing
Industry and Commerce Minister Honourable Mangaliso Ndlovu has castigated big supermarkets for overpricing their products and exposed a forex syndicate of downtown business owners and illegal foreign ...Published: 04 Jul 2019 at 20:33hrs | 7 | by Staff reporter
Black market loses grip
Some illegal foreign currency dealers have been pushed out of "business" as Statutory Instrument (SI) 142 of 2019 effects continue to hold fort on the foreign exchange market, forcing rates to tumble....Published: 03 Jul 2019 at 08:36hrs | 1 | by Staff reporter
Currency reforms restore country's sovereign dignity
The Transitional Stabilisation Programme (TSP) has laid the foundation for fiscal consolidation at the same time generating sustainable budget methods. So far, the implementation of the TSP ha...Published: 30 Jun 2019 at 09:03hrs | 3 | by Richard Mahomva
Police arrest 15 forex dealers
The Zimbabwe Republic Police (ZRP) has arrested 15 illegal foreign currency dealers in Harare during an ongoing operation they launched this week. The 15 are still assisting police with investigations...Published: 28 Jun 2019 at 06:16hrs | | by Staff reporter
International credit cards still valid in Zimbabwe
The Zimbabwe Tourism Authority (ZTA) has assured tourists that international credit cards are still usable in Zimbabwe following the new monetary regulations announced by Government through Statutory ...Published: 28 Jun 2019 at 06:15hrs | 17 | by Staff reporter
Banishing forex trading is 'Good times are back!' for chefs, 'Nhamo yamakandiwa yadzoka!' for povo
Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya has cleared the air on a number of issues surrounding the abolition of the multi-currency system, among them clarifying that recipients of dia...Published: 27 Jun 2019 at 13:54hrs | | by Patrick Guramatunhu
Mutsvangwa's son in illegal forex deals storm
THE case of Information minister Monica Mutsvangwa and former adviser to the President, Christopher Mutsvangwa's son, Neville, who is allegedly running an illegal foreign currency trading business, ha...Published: 01 Jun 2019 at 07:55hrs | 1 | by Staff reporter
Osiphatheleni run out of money
Most Illegal foreign currency dealers popularly known as Osiphatheleni ran out of money to service their customers today, Monday.The reason, they alleged, was that the government mopped up for...Published: 20 May 2019 at 22:22hrs | 1 | by Methuli Ncube
4 illegal forex dealers freed on bail
FOUR suspected illegal foreign currency dealers arrested in a weekend police blitz in Marondera were brought to court on Monday and granted $50 bail each.Rutendo Mudzimurema (31), Stephania Go...Published: 27 Feb 2019 at 06:36hrs | 1 | by Staff reporter
24 suspected illegal forex dealers in court
Police have intensified a crackdown on illegal foreign currency dealers under an operation code-named "Dzosai Mari" and 24 suspected dealers appeared at the Harare Magistrates' Courts between Friday a...Published: 27 Feb 2019 at 06:28hrs | 1 | by Staff reporter
Mangudya says 'I am guilty as charged' on bond notes
THE ZIMBABWE central bank governor Dr John Mangudya has admitted prejudicing the country’s exporters by exchanging their US dollar earnings at parity with the local bond note, when rates on the para...Published: 22 Feb 2019 at 09:22hrs | 1 | by Staff reporter
Army uniform saga: Suspect in U-turn
A SUSPECTED protestor who initially told prosecutors during vetting for initial appearance at the Harare Magistrates' Courts that he was given army uniform at the Zanu PF headquarters, yesterday chang...Published: 12 Feb 2019 at 07:33hrs | | by Staff reporter
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