Makoni’s trial will begin on February 17.
He is accused of selling products, at his Power Speed Electrical
Shop in Harare, above the official rate of $88.55.
Makoni, who is jointly charged with his company, appeared
before Harare regional magistrate, Stanford Mambanje.
The Exchange Control Act prohibits the selling, displaying
and offering of goods or services for sale, above the official exchange rate in
Zimbabwe.
It is said that on October 6 last year, the Reserve Bank of
Zimbabwe received information that some companies were procuring foreign
currency at the forex auction, and selling their products above the official
exchange rate.
The Reserve Bank Exchange Control Department deployed its
officers who approached a number of retail outlets.
The following day, John Mashal Chinembiri and Tanaka
Lincoln Sanyamahwe, from the Reserve Bank Financial Intelligence Unit
Department, visited Makoni’s shop.
Chinembiri bought 750ml of Benzine for $423,65 while
Sanyamahwe purchased the same product for US$2,42.
The State alleged the two were issued with point of sale
receipts reflecting a rate of $175 per US$1.
This was in contrast to the official exchange rate of
$88,55 to the United States dollar, which was prevailing on October 5, 2021.
Meanwhile, Best Zone Pharmacy, represented by its director
Isaac Chipako, appeared before the same court, facing the same allegations.
Chipako’s trial date was set for February 9. The court
heard that Best Zone pharmacy sold Benylin cough syrup for $1260 or US$7, which
was at a rate of $180 per United States dollar.
This was in contrast to the official $88.52 per United
States dollar. Lancelot Mutsokoti appeared for the State. H Metro
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