Zimbabwe today blacklisted 19 private contractors for engaging in illegal foreign currency transactions after receiving payments from the government.
The Ministry of Finance said today that the Reserve Bank of Zimbabwe’s Financial Intelligence Unit had discovered that after the value for money audits ordered by the government before any payments to suppliers, some companies, upon receiving payment, went on to offload the money on the illegal foreign currency market.
Some used the money to purchase fast moving goods which they then sold exclusively in foreign currency.
Below is a statement issued by the ministry today.
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