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Locadia Mavhudzi Midlands Bureau
Illegal foreign currency dealers in Gweru are still conducting their deals in broad day light despite the promulgation of regulations that criminalise cash vending without permission from the Reserve Bank of Zimbabwe.

A snap survey by The Herald has shown that the illegal foreign exchange trading points in the Midlands capital were still a hive of activity, with cash exchanging hands in broad day light. The illegal foreign currency dealers could be seen displaying their multi currency waiting for customers at the usual dealing points such as Kudzanayi Bus Terminus market, Zesa building Complex and on corner of 3rd Street and Robert Mugabe Way.

A US$100 bill for instance, was exchanging for $120 bond notes. The illegal foreign currency dealers on condition of anonymity said while they were aware of the promulgation of the regulations that criminalise cash vending by RBZ last week, they had no other means to sustain their livelihoods. They also said their business was still viable.

“We are here as you can see, dealing, because customers are there and business is still good,” said one of the dealers. “Yes, we know about the new laws, but what can we do? We have to survive and the law enforcers are humans after all. So we talk and they leave us alone.”

Acting Midlands provincial police spokesperson, Assistant Inspector Ethel Mukwende, said it was premature for the police to comment on the matter.

“We will get back to you when we have a comment,” she said.

Last week, Government gazetted a law to curb illegal cash and foreign currency trading, with offenders facing a mandatory 10-year jail term, while their cash is forfeited to the State and their bank accounts frozen. Finance Minister Cde Patrick Chinamasa said the stringent regulations were gazetted under the Exchange Control Amendment Regulations. Zimbabwe is in a cash crisis that has resulted in cash barons across the country taking advantage of the situation, charging between 40 percent and 45 percent interest to those desperately in need of cash.