Two employees of a private packaging firm have appeared in court accused of running an unlicensed money transfer business and laundering more than US$1.5 million. Kudzai Munatsi (37) of Marondera, and Natash Matare (25) of Kuwadzana 6, Harare both employed by Global Packaging Services Investments (Pvt)
Harare Regional Magistrate, Ngoni Nduna has denied bail to businessman Samuel Tererai Chiodze who is among the 14 'illegal' foreign currency dealers arrested last week. Nduna ruled that there are high chances that Chiodze who is facing charges of money laundering and contravention the Exchange Control
Finance and Economic Development Minister, Professor Mthuli Ncube 2019 national budget presentation has been received with mixed feelings, with the most bugging being tax and bond-forex policies. Below is the 2019 National Budget Summary and some reactions from Twitter. 2019 National Budget Speech (1) https://twitter.com/acielumumba/status/1065831712452734976 https://twitter.com/Wamagaisa/status/1065638151807471619 https://twitter.com/SeratiWeChelsea/status/1065666321466175489 https://twitter.com/nyasha_adler/status/1065690328496304128 https://twitter.com/KirstyCoventry/status/1065621672798154752 https://twitter.com/S_Harudzibwi/status/1065607985144184832
Parallel foreign currency exchange market rates have tumbled with US$100, which was being exchanged for up to $600 midday yesterday now trading for as low as $200. This follows government announcement that it had secured financial support from the Afrexim Bank to guarantee the 1:1 convertibility
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