13 companies blacklisted

Nqobile Bhebhe, Chronicle Reporter

THIRTEEN contractors have been blacklisted for siphoning their proceeds to the parallel market, thus, triggering domestic inflationary pressures, the Minister of Finance and Economic Development, Professor Mthuli Ncube has said.

Professor Ncube said Government remains committed to maintaining price stability, restoring market discipline and engendering market confidence. In a statement, the finance minister said the affected entities would be permanently removed from the list of potential service providers to Government.

“Following the blacklisting of some companies through my Statement dated 9 November 2022, Government is concerned and disturbed to note the continuation of indecorous behaviour by some companies who continue to fuel illegal parallel market activities. This waters down Government efforts towards the stabilisation of the local currency and containment of inflation, thereby pervading the economy at the expense of the generality of citizens of Zimbabwe. Such behaviour cannot be condoned,” said Professor Ncube.

The 13 companies were identified by the Financial Intelligence Unit (FIU) as being involved in the unlawful conduct.

“Having monitored various financial transactions with a view to plug parallel market dealings, the FIU has observed that these companies are siphoning their proceeds to the parallel market, thus, triggering domestic inflationary pressures.

“Resultantly, Government has blacklisted the aforementioned companies so as to maintain stability in the foreign currency market and curb inflation. In the same vein, the Procurement Regulatory Authority of Zimbabwe (PRAZ) will be advised to permanently remove the entities from the list of potential service providers to Government.”

The firms are Casha Designs (Pvt) Ltd, Re-net Technology (Pvt) Ltd, Malfran Investments (Pvt) Ltd, Difflock Construction (Pvt) Ltd, Staman Investments (Pvt) Ltd, Guide Marketing (Pvt) Ltd, Nodship Investments Pvt Ltd, Infinity Hire Pvt Ltd, Nomalanga Marketing Pvt Ltd, Gift Mwayera t/a Mwayera Transport Pvt Ltd, Mukota Haulage and Busses Pvt Ltd and Ofixmore Marketing Pvt Ltd Blecia.

The minister said Government is devoted towards implementing and enforcing informed measures aimed at creating a conducive environment to sustainably grow the economy in line with the macro-economic targets under the National Development Strategy 1, which are key for the realisation of the aspirations of Vision 2030.