Companies face RBZ sanctions over forex abuse
Farirai Machivenyika Senior Reporter
Eighteen entities face penalties from the Reserve Bank of Zimbabwe for abusing foreign currency they were allocated through the foreign exchange auction system.
The entities will be punished in accordance with provisions of the recently gazetted Statutory Instrument 127 of 2021.
In a statement, RBZ Governor Dr John Mangudya said the abuse was uncovered following investigations by the Financial Intelligence Unit and the Exchange Control Division.
Some of the entities include National Foods, Africa Steel (Pvt) Ltd among others.
You Might Also Like
-
Farirai Machivenyika-Senior Reporter British mining company Cluff Africa, intends to return to Zimbabwe to partner Mutapa Investment Fund in mining lithium in Mberengwa following an invitation by President Mnangagwa to reinvest in this country. Company chairman Mr Algy Cluff and his delegation yesterday met Foreign Affairs and International Trade Minister, Dr Frederick Shava, and discussed […]
Agriculture Journal
Comments