The Zimbabwe Anti-Corruption Commission (ZACC) has arrested Progress Matengaifa, a clearing agent based at the Chirundu Border Post, on serious charges related to the illegal importation of cement. This arrest took place on September 26, 2024, and is part of the commission’s ongoing efforts to combat corruption and protect local industries.
Matengaifa stands accused of violating Statutory Instrument 89 of 2021, which prohibits the importation of cement to safeguard local manufacturers. According to the ZACC’s statement, Matengaifa facilitated the illegal importation by clearing a truck loaded with cement using forged documentation.
The ZACC reported that it received a tip-off regarding the smuggling operation. Following a thorough investigation, agents intercepted a truck carrying cement that had been processed by Matengaifa. Upon further scrutiny, it was revealed that he had fraudulently used a Bill of Entry that was originally issued for the importation of tiles.
In addition to the illegal importation charges, Matengaifa is also accused of assisting the truck driver in evading arrest, thereby obstructing justice. This highlights the commission’s commitment to addressing not only corruption but also the broader implications of such illegal activities on the economy and local businesses. Matengaifa is set to appear before the Chinhoyi Magistrates Court to answer to the charges. The ZACC has reiterated its dedication to eradicating corruption and promoting fair trade practices in Zimbabwe, particularly in sectors critical to national development.
This arrest underscores the importance of vigilance in enforcing regulations designed to protect local industries and ensure compliance with the law. The ZACC continues to encourage the public to report any suspicious activities that may undermine the integrity of the country’s economic frameworks.
In other news – RBZ implements bold measures to address exchange rate
The Reserve Bank of Zimbabwe (RBZ) has implemented significant measures to address the recent surge in exchange rate volatility and mitigate inflationary pressures affecting the economy. Effective immediately, the bank’s policy rate has been raised from 20% to 35%, and the limit on foreign currency that individuals can carry outside the country has been reduced from US$10,000 to US$2,000.
RBZ Governor Dr. John Mushayavanhu made these announcements following a meeting of the Monetary Policy Committee (MPC), convened to assess macroeconomic developments and the outlook amid concerns regarding the depreciation of the local Zimbabwe Gold (ZWG) currency against the US dollar. Read More
