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Mthuli, Mangundya threaten to revoke licences for businesses involved in illegal forex trading


Treasury’s Monetary authorities who include the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya and Finance and Economic Development Minister Professor Mthuli Ncube have threatened revoking licenses.Analysts believe this may be the most profound policy announcement of their tenure by threatening professional licences of individuals found to be complicit in parallel market activities.

In a statement, Treasury said

“Regulatory bodies including the Public Accounts and Auditors Board, will also be working on a framework to impose appropriate financial and professional sanctions on members” who may be complicit in superintending over illicit affairs by corporate entities which they are charged with.

Why this might be one of the most profound policy, sanity in Zimbabwe’s economy will only happen sustainably when stakeholder interests align for the benefit of the country or put differently not compete against the country.

However market forces must be let to do the talking.

“Business who disregard the law and continue to price their goods on the parallel market will have their licences suspended,” reads the statement by the Treasury bosses.

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