Zim currency crisis: Police arrest 170 black market money dealers, report says

2018-10-26 11:32
iStock

iStock

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

At least 170 black market money dealers have reportedly been arrested in Zimbabwe, as the currency crisis persists in the southern African country.

According to BBC, police arrested the money dealers in a campaign against "currency trading, which they say has caused the prices of imported goods to rise".

Their arrest came just a few days after Zimbabwe's central bank suspended four top officials for allegedly fuelling the black market trade

The suspension came after a controversial former ruling party supporter, Acie Lumumba, levelled allegations against the four in a video posted on Facebook.

Lumumba alleged the four - Mirirai Chiremba, Norman Mataruka, Gresham Muradzikwa and Azvinandawa Saburi - were part of a cartel controlling the allocation of foreign currency and bond notes to traders on the black market, according to the state-run Herald newspaper.  

On Monday Central Bank Governor John Mangudya said the four would remain suspended for "an indefinite period to pave way for the investigations".

'Queen Bee'

"Once the investigations have been concluded, the public shall be advised of the outcome and appropriate corrective action to be taken," Mangudya said in a statement quoted by the Herald.

Lumumba claimed the four bank officials worked with a woman he only named as "the Queen Bee".

"Queen Bee has bought cars for the (top) guys at Zanu PF because she is struggling to capture (President Emmerson) Mnangagwa. So she decides to capture everyone else," he said, in quotes carried by NewsDay

Lumumba said this soon after he was appointed to head a communications task force by Finance Minister Mthuli Ncube.

Lumumba was, however, dismissed three days after his appointment.

Lumumba said on Facebook live this week that he was fired from his job because the finance minister believed he could be much "effective" outside of government.

"I understand why I was fired. I was fired for one reason and one reason only and that is because minister Ncube realised I would be more effective outside of government," Lumumba said.

"In the ministry I was limited, limited because I must liaise with permanent secretary. But now I can talk about what’s really going on without worrying about being fired. I am going to you some secrets about what’s really going on," Lumumba said.

* Sign up to News24's top Africa news in your inbox: SUBSCRIBE TO THE HELLO AFRICA NEWSLETTER

FOLLOW News24 Africa on Twitter and Facebook

Read more on:    mthuli ncube  |  zimbabwe  |  southern africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
/News
Traffic Alerts

Jobs in Cape Town [change area]

Jobs in Western Cape region

Reporting Accountant

Cape Town
Network Finance Professional / Prudential
R310 000.00 - R360 000.00 Per Year

IT Manager (contract)

Cape Town CBD
Communicate Cape Town IT
R330 000.00 - R458 000.00 Per Year

Cluster Financial Manager

Cape Town
Network Finance
R950 000.00 - R1 000 000.00 Per Year

Property [change area]

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.