End nigh for illegal forex dealers

End nigh for illegal forex dealers

Hosia Mviringi

Vice President (Rtd) General Constantino Chiwenga yesterday told those engaging in corruption and illegal money dealing to desist from activities that sabotage the wellbeing of the Zimbabwean economy.
VP Chiwenga was addressing a ZANU PF rally in Marondera, mounted to drum up support for the ruling party in the run-up to March 26 by-elections.
“Arbitrage and dealings on the illegal foreign currency market will forthwith attract heavy penalties that include mandatory jail sentences. Government will no longer negotiate with those found in the wrong side of the law especially where corrupt activities and illicit foreign currency trading,” said VP Chiwenga.
VP Chiwenga told thousands of ZANU PF faithfuls who had gathered at Rudhaka stadium, that many warnings which have been issued have not been heeded and it is now time to take action.
He said the current resolve is driven by the Government’s resolve to sustain the de-dollarisation drive through the promotion of greater usage and acceptability of local Zimbabwe Dollar currency.
“Indeed, the continued use of other people’s currency can only serve to further impoverish our people and retard economic growth. Now we want to strengthen continued usage and acceptance of our own Zimbabwe Dollar currency,” said VP Chiwenga.
“ZANU PF is once again reaffirming it’s commitment to restoring the dignity of its people which had been eroded over the years through the continued imposition of sanctions which had forced us to abandon our own currency.
The nation should never doubt government’s resolve towards restoration of economic vibrancy which can only be sustained through a wider usage of our local currency,” VP Chiwenga added.
The Reserve Bank of Zimbabwe has recently reaffirmed confidence in the local currency when it scrapped the requirement to pay import duty for automobiles using foreign currency.
Since the announcement of the new requirement by treasury, there has been a stampede for the local unit which has seen its value on the usually unforgiving black market firming in response.
Improved grain production and improving gold deliveries on the international market have seen a positive improvement in the country’s overall balance of payment position, which is a good omen for the local unit.
ZANU PF is participating in three House of Assembly and 10 Local Authority seats in the 26 March, 2022 by-elections in Mashonaland East.

Murehwa South and Marondera East House of Assembly seats which are being represented by Cde Masoka and Chiwetu respectly are a result of deaths, while Marondera Central which is represented by Cde Ignatius Mateveke is a result of a recall by the opposition MDC Alliance.