Govt targets moneychangers following introduction ...

Govt targets moneychangers following introduction of ZiG

Zim Now Writer

Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube has warned black market mongers and illegal money changers of heavy fines if found trading on the streets, with law enforcement on the look-out for such traders.

This comes as illegal money traders have returned to the streets amid the opening of electronic transfer systems owing to the currency change that has seen the government do away with the heavily eroded Zimbabwe Dollar.

Minister Ncube extended government’s commitment and willingness to arrest all characters that seek to manipulate and extort the public together with the newly-introduced Zimbabwe Gold currency, noting that perpetrators face heavy fines and law enforcement crackdown.

“We are going to send out our law enforcement agencies to do their work in a blitz to make sure that these vendors are dealt with. They should be cleared off the streets, and heavy fines imposed on those caught trading in the parallel market. It is illegal. Therefore, if it is illegal, the law must take its course. I am also urging our law enforcement agents to move with speed to deal with this matter. We cannot allow it,” Ncube said.

In an interview with The Herald, national police spokesperson, Assistant Commissioner Paul Nyathi, said law enforcement agents will be on the lookout for illegal money traders in the streets.

“Our laws are very clear and anyone who is found committing criminal offences will be prosecuted. We stand guided by the statement from Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, that law enforcement agencies should make sure that money changers are dealt with,” Ass Comm Nyathi said.

He also added that those caught dealing and manipulating the ZiG currency will receive penalties including jail sentences and confiscation of the money they are caught trading with.

“We are working together with the Reserve Bank of Zimbabwe to end this practice and the law will take its course without fear or favour,” Asst Comm Nyathi added.