ZACC Sets Its Guns On "Currency Manipulators"

The Zimbabwe Anti-corruption Commission has officially opened an investigation on individuals believed to be manipulating the exchange rates for private gain. This was revealed by ZACC’s John Makamure who spoke to the Sunday Mail. Makamure said:

Zacc is mandated in terms of the schedule to the Anti- Corruption Commission Act to investigate any offences related to corruption, and in addition, any contraventions of the Money Laundering and Proceeds of Crime Act, contraventions of Exchange Control Act or Regulations and other economic crimes. We have engaged the Financial Intelligence Unit on the matter and we are looking into these issues.

This is in addition to the move by the government through SI2019/212 and SI2019/213 to penalise those charging and paying for local transactions in forex. Zimbabwe abolished the multi-currency system ion 24 June 2019 in favour of a mono currency the RTGS$.