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Mabvuku Foreign Currency Dealer Sent To Jail

7 months agoWed, 07 Aug 2024 09:06:09 GMT
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Mabvuku Foreign Currency Dealer Sent To Jail

A 24-year-old Harare man, Kudakwashe Welcome Maketo, appeared before the Harare Magistrates’ Court facing charges of contravening Section 5(1)(a)(ii) of the Exchange Control Act Chapter 22:05, as read with Section 4(1)(a) of the Exchange Regulations SI 109 of 1996 as amended by Section 2 of the Statutory Instrument 122A of 2017 and Section 3 and 4(2) of SI 245 of 2018 “dealing in currency”.

The court established that on August 1, 2024, police officers spotted Maketo, a resident of New Tafara, Harare, at Kamunhu Shops in Mabvuku, offering to buy foreign currency from passers-by in exchange for local currency.

The police officers approached Maketo and agreed to exchange money with him. Maketo offered them a rate of US$1 to ZWG16 and the officers transferred a total of ZWG320 from their mobile wallet into Maketo’s wallet.

Maketo was subsequently arrested when he received the US$20 trap money. During the arrest, he was found in possession of 5 bank cards.

The court convicted Maketo of “dealing in currency” and sentenced him to 6 months imprisonment, with 3 months suspended for 5 years, resulting in an effective sentence of 6 months.

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34 Comments

Mapurisa 10 · 7 months ago
After typing read carefully before posting
Anonymous · 7 months ago
After typing read carefully before posting
Owen Abrams · 7 months ago
Can we please get back into the real world,we all know where this currency problem is coming from,the ruling elite have no idea how to fix the economy of this country,they have turned this country into a kingdom of their own,got rid of the rule of law,turned the justice system into a shield that only protects them,ran the economy to the ground by looting our natural resources to enrich themselves ,they should start by changing their policies in order for us to attract direct genuine foreign investors,not looters from China,stick to proper rule of law,transparent justice system,hold proper free and fare elections,let the people's voices be heard,change the current administration, and they will be no need to keep changing our currency,you can rig the elections but you can't rig the economy,
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Anonymous · 7 months ago
Umwe akapiwa 2 year jail akabvisirwa 2 years
👹 · 7 months ago
Beware of Jeff Judah Hosanna, a fake coordinator of national demonstrations on Zanu Pf payroll
Antman · 7 months ago
Imagine Neville is home enjoying life for similar crimes
Anonymous · 7 months ago
Mumboitawo proof reading nyaya dzenyu musati maisa pajekerere. 1. Mapurisa ndiwo akaita transfer yemaZiG kwava kupa futi muchenjimani 20usd. 2. Munhu akapiwa 6 mnths then 3 mnths were suspended kwava kusara effectively ne 6 mnths ..... does this make sense to you?
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JENARARI · 7 months ago
Tine tichimhanya hatichadi zvekutangirwa nana Dottie na Collin
Anonymous · 7 months ago
Ndanchionawo Ichi ndikato inspaiwa kunyorawo fiction novel
Emperor Colussi · 7 months ago
Kkkkkk
Anonymous · 7 months ago
You can say that again. I wonder kuti kuna editor here kubasa kwavo. How did he deal go ivo mapurisa varivo vakaburitsa mari pese?
Si**** · 7 months ago
Hatirege kusvika yalife imprisonment
Shadows · 7 months ago
the truth has been spoken
· 7 months ago
*Hopewell Chin'ono* Things are tough in crookED Emmerson’s Zimbabwe, not just for Zimbabweans but even for tourists! This is Lucas Slavik from the Czech Republic. He was arrested last week for making a video showing that there was no water or electricity in the city of Masvingo. Zimbabwe suffers from 20-hour power blackouts due to years of looting by crookED Emmerson and his party, ZANU-PF. Lucas Slavik has been denied bail today, even though he is being charged under a law that doesn’t exist. The constitution doesn’t matter in Zimbabwe. The judiciary, led by Chief Justice Dopey Luke, who now drives around in a motorcade, has been destroyed. It is truly the Wild Wild West in Zimbabwe not just for Zimbabweans but even for tourists! Lucas Slavik might now stay in prison without trial for a while, only because he made a video documenting what he saw in Zimbabwe! Lucas Slavik's arrest and denial of bail is a disturbing example of how the Zimbabwean government is cracking down on freedom of expression and using arbitrary and unlawful means to silence dissent. The fact that he was arrested for simply making a video documenting the lack of basic services in Masvingo is a clear violation of his rights and freedoms. The situation is made even worse by the fact that he is being charged under a law that doesn't even exist, highlighting the breakdown of the rule of law in Zimbabwe. That is today’s Zimbabwe under crookED Emmerson!
Corruptmore Looto · 7 months ago
Yahh, Zimbabwe maone manje. Unovharirwa nemutemo wakaitwa striked down a while back 😬😬. NYIKA YAMAMVEMVE AKADARO MUKANYA
Shadows · 7 months ago
zvechokwadi uri Gokwe SADC elections yamakaudzwa ndeyei nhai museyamwa
chiko · 7 months ago
tiri zvedu kuno Gokwe, toinda kundopemberera ED nekuhwina kwaakaita paSadc elections. zvofadza chose
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Anonymous · 7 months ago
Hanzi Gokwe asi Gogwe. Asi haubvi Zaka su hatidi vasiri ve Zaka pano,today vakadya harugwa vakabuda musodzi.
V · 7 months ago
Wadyejena. Chuvhayo chugumba mupfumira chumombe obertmpofu rushwaya matonga sean mupfumi passion coach mukumba guvamatanga tugwurei kuda emmer mtulincube bimha naaxui wese wari panze nema billion avakatora hawanakupara mhosva nhai asi uyu zuze zvake naye naye madiii ku daidza SADC apa? Kutoshamatata zvegotsi rembwa ndozvogonekwa. Kufadza pfambi dzenyu munechirwere chegonde kusafunga kusanyara batai gono mushayazig mungundya nagiribheti munotya sei corruption leaders in Southern Africa 🌍
Ma1 · 7 months ago
small fish is easy to catch,big fish inodambura mambure
patz · 7 months ago
6mths sentence, 3mths sup, effective 6 mths ?????. Dzonongoramba dziri 6 mnths here kana dzimwe 3 dza supendiwa.
money · 7 months ago
ko scott
Anonymous · 7 months ago
Ko mutsvangwa
MahlabeZulu · 7 months ago
The black market currency exchange in Zimbabwe emerged as a response to market failure, characterized by: 1. _Foreign currency shortages_: The official foreign exchange market failed to meet demand, leading to a shortage of foreign currency. 2. _Fixed exchange rates_: The government's fixed exchange rate policy created a disconnect between the official and black market rates. 3. _Inflation and currency devaluation_: Hyperinflation and currency devaluation eroded trust in the official currency, driving demand for foreign currency. 4. _Restrictive capital controls_: Strict capital controls limited access to foreign currency, fueling black market activity. 5. _Lack of confidence in the government_: Political instability and policy inconsistencies eroded confidence in the government's ability to manage the economy. The black market currency exchange, also known as the "parallel market," offers an alternative for individuals and businesses to access foreign currency, but it also perpetuates: 1. _Currency instability_ 2. _Inflation_ 3. _Unequal access to foreign currency_ 4. _Corruption_ 5. _Economic distortions_ The government has attempted to address these issues through various measures, including: 1. _Currency reforms_ 2. _Monetary policy adjustments_ 3. _Capital control relaxation_ 4. _Foreign currency auctions_ 5. _Anti-black market operations_ However, a comprehensive solution requires addressing the underlying economic and political challenges.
Mdara_🇿🇼 · 7 months ago
Ai generated
Corruptmore Looto · 7 months ago
Wangu tese tinayo AI iyi
📛 · 7 months ago
asi wanga usina kumbofunga kutsvaga zvapostiwa izvi
mnangagwa · 7 months ago
economics
Inini · 7 months ago
The real solution is the the replacement of the current incompetent junta with a democratically elected efficient government, by the people for the people
Anonymous · 7 months ago
That will be difficult if all the opposition work for the junta.
unru!ÿ · 7 months ago
wagona zvako iwe... ska zvine basa rei kana iri AI tipe zvimwe toda zvedu kudzidza Economics
Commentor_ · 7 months ago
Enforcing the law💯
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