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13 Companies Blacklisted For Fueling Illegal Foreign Exchange Market

Commercial Sector Employees Set For Wage Hike

Professor Mthuli Ncube, the minister of Finance and Economic Development, has announced that 13 companies have been blacklisted for fueling the illegal foreign exchange market.

In a statement seen by ZiMetro News, Ncube said the 13 companies blacklisted include some transport operators who have been funding the illegal forex market.

Reads the statement:

BLACKLISTING OF CONTRACTORS WHO CHANNEL FUNDS TO THE ILLEGAL FOREIGN EXCHANGE MARKET

Following the blacklisting of some companies through my Statement dated 09 November 2022, Government is concerned and disturbed to note the continuation of indecorous behavior by some companies who continue to fuel illegal parallel market activities. This waters down Government efforts towards the stabilization of the local currency and containment of inflation, thereby pervading the economy at the expense of the generality of citizens of Zimbabwe. Such behavior cannot be condoned. A total of 13 companies have been identified by the Financial Intelligence Unit (FIU) as being involved in this unlawful conduct as follows:

i. Casha Designs (Pvt) Ltd;

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ii. Re-net Technology (Pvt) Ltd; Malfran Investments (Pvt) Ltd;

iv. Difflock Construction (Pvt) Ltd;

v. Staman Investments (Pvt) Ltd;

vi. Guide Marketing (Pvt) Ltd;

vii. Nodship Investments Pvt Ltd;

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viii. Infinity Hire Pvt Ltd;

ix. Nomalanga Marketing Pvt Ltd;

x. Gift Mwayera t/a Mwayera Transport Pvt Ltd;

xi. Mukota Haulage and Busses Pvt Ltd;

xii. Ofixmore Marketing Pvt Ltd

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xiii. Blecia Investments

Having monitored various financial transactions with a view to plug parallel market dealings, the FIU has observed that these companies are siphoning their proceeds to the parallel market, thus, triggering domestic inflationary pressures.

Resultantly, Government has blacklisted the aforementioned companies so as to maintain stability in the foreign currency market and curb inflation. In the same vein, the Procurement Regulatory Authority of Zimbabwe (PRAZ) will be advised to permanently remove the entities from the list of potential service providers to Government.

Government remains committed to maintaining price stability, restoring market discipline and engendering market confidence. Further, Government is devoted towards implementing and enforcing informed measures aimed at creating a conducive environment to sustainably grow the economy in line with the macro-economic targets under the National Development Strategy 1, which are key for the realization of the aspirations of Vision 2030.

In other trending news,

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Suicide Norton Teen Was Having Mjolo With a Married Woman!

 

A Chinhoyi University of Technology student who was found hanging from a tree at a Norton farm had been confronted over bedding a married woman a few hours before he disappeared, ZiMetro News has learnt.

Suicide Norton Teen Was Having Mjolo With a Married Woman!

Gerald Tadiwanashe Mapurisa’s illicit affair with a married woman was revealed during a memorial church service held for him in Norton on Saturday.

The second-year student’s mother, Mabem Chivhayo, 58, and other guests could not hold back tears when Gerald’s older brother, Gilbert Mapurisa, 28, narrated his…read full story

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