We Do Not Participate In Buying Or Selling Cash On The Streets Says RBZ Governor Mangudya

Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya has dismissed all allegations that the central bank was involved in buying foreign currency from illegal cash dealers. The allegations increased in tempo after illegal cash dealers were seen with bricks of unsealed bond notes.

Addressing delegates at a Confederation of Zimbabwe Industries (CZI) breakfast meeting, Mangudya said:

We do not participate in buying or selling cash on the streets … we do not do that at all. The money that is kept by the Reserve Bank goes through the normal banking system and normal banking agencies.

Mangudya blamed cartels instead saying:

(Some) cartels, wherein, the retailers, when they collect their cash, they do not bank it, it goes through the same cartels.

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We are also investigating all those social media pictures showing bricks of cash and we are making good inroads into those investigations.

More: NewsDay