ZRP, ZACC and RBZ to launch nationwide blitz to crack down on “cash hoarding and cash selling”

The Zimbabwe Anti-Corruption Commission(ZACC) spokesperson Mrs Phyllis Chikundura, has said that her organisation in collaboration with the Zimbabwe Republic Police (ZRP) and Reserve Bank of Zimbabwe (RBZ) will launch a nationwide campaign to target people and businesses hoarding cash such as supermarkets, bank tellers and mobile money agents.

Said Chikundura:

We are working with RBZ and the police to try and deal with this thing affecting our economy once and for all. One wonders how while some people are queuing all day at banks just to get $20, someone has thousands of cash to sell at exorbitant interests to desperate members of the public. We know that this is a syndicate and we are going to round them all up. Our auditors and police are investigating and a lot of ground has been covered. The long arm of the law will soon descend on the criminals.

RBZ governor John Mangudya said:

Money is like blood and it needs to circulate freely for the economy to function and flourish. We discourage cash hoarding and cash externalisation and are working with the Zimbabwe Anti Corruption Commission and the police to curb the cash hoarding and cash selling culture that is plaguing our economy.

More: Sunday News



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