Gilbert Munetsi
Government, through the Ministry of Finance and Economic Development, has blacklisted 19 companies proven to have channeled funds to the illegal foreign exchange market.
Finance Minister Professor Mthuli Ncube made the announcement Wednesday, November 9, through a press statement, assuring the nation that a “Value for Money” exercise was underway to strengthen procurement systems and to improve management of payment circles for Government contracts.
“It has been observed that some contractors, after passing through the Value for Money process and having received their payment from Government, still tend to siphon their proceeds into the parallel market thereby causing domestic inflationary pressures.
“In this regard, this statement today is to give an update of findings from the work conducted by the Financial Intelligence Unit (FIU) on monitoring payments made to Government suppliers as well as measures to deal with non-compliant contractors with a view to plug parallel market dealing,” said Minister Ncube.
In sync with President Emmerson Mnangagwa’s announcements on May 7, 2022, which subsequently managed to instill discipline and curb speculative behaviour, Prof Ncube emphasized on the Government’s strides to implement informed bold measures in an endeavor to promote stability. This, he said, would position the economy on a sustainable growth trajectory.
“Policy measures from the Ministry of Finance and Economic Development and the Reserve Bank of Zimbabwe during the course of the year have signaled to the market Government’s utmost commitment to maintaining price stability and restoring market discipline which, in turn, will engender market confidence,” said the Minister.
List of black-listed companies:
- Nariox (Pvt) Ltd
- New Age Marketers (Pvt) Ltd
- Pepwit Investments
- Tirumi Investments
- Mwende Africa
- Alg World Investments
- Lobmer Investments
- Nisbank Enterprises
- Sailgroom Enterprises
- Wayvar Investments
- Poweride Safaris
- Azelion Energy (Pvt) Ltd
- BLackdeck (Pvt) Ltd
- Paza Buster (Pvt) Ltd
- Redan Coupon (Pvt) Ltd
- The Best Car Rental
- The Legacy Car Rental
- Josam Enterprises
- Construction Warehouse (Pvt) Ltd
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