Vusumuzi Dube
Judith Phiri, Business Reporter
MORE than 50 contractors have been blacklisted for unlawfully diverting payments they received for supplying goods and services to the illegal foreign currency parallel market.
In a statement on Wednesday, Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube said the blacklisting of the 51 contractors entails that the companies would be barred from being suppliers or service providers to Government, as well as Government agencies, and this extends to other companies connected with the directors.
“This action has been taken in pursuit of Government’s continued efforts to improve economic stability and restore confidence in the financial system and provide a conducive business environment.
“The blacklisted companies have been under scrutiny since July 18, 2022, when Treasury tasked the Financial Intelligence Unit to monitor all payments of high-value Government contracts to identify those involved in illegal foreign currency dealings,” he said.
“This was meant to contain market forces and align the macro-economy to the liberalised foreign exchange market, whose exchange rate is freely determined by the banking system based on demand and supply.”
The Minister said the introduction of the Zimbabwe Gold (ZiG) currency as legal tender on April 5, further stabilised the economy and brought about orderly pricing in the market, a positive development that Government seeks to maintain.
He said the Government remains committed to improving the economy and will continue to monitor developments in the market.
“The continued implementation of the Value for Money principle in Government has realised savings that have enabled the implementation of programmes and projects that benefit citizens.”
Some of the blacklisted companies are Browline Transport (Pvt) Limited, Avant Garde Group, Zambezi Bulk Plant Hire and Goldair Technologies.
Included on the list also are Exceptional Office Fitouts and Shop Fitters, Diagno Pharm (Pvt) Limited, Citicom T/A Console Telecom Systems (Pvt) Limited, Hinposs Investments (Pvt) Limited, Growly Construction and Manufacturing (Pvt) Ltd and Green Mamba Security (Pvt) Limited among others.
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