Saturday 27 April 2024


THE government wants to classify foreign currency transactions on the parallel market as money laundering which is considered one of the most serious financial crimes worldwide, the Zimbabwe Independent can reveal.

This move is part of efforts to safe­guard the newly introduced gold-backed currency, known as Zimbabwe Gold (ZIG).

“We should call it what it is Honourable minister (Mthuli Ncube). It is an illegality, and that is money laundering. We are going to deal with these activities that you are calling money-changing, accordingly,” the Ministry of Finance, Economic Development and Investment Promotion permanent secretary, George Guvamatanga said during a press briefing at the recently ended International Monetary Fund/world Bank Spring meetings held in Washington DC, United States.

“Whoever is trading on the alternative market is doing money laun­dering and it is a serious global offence.

“There will be severe implications for anyone, who is going to manipulate the currency. If you want to pay for anything in US dollars, be it school or medical fees, you should go to your bank with the invoice and they will pay.”


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