BUSINESSMAN GRANT CHITATE IN US$7M EXCHANGE CONTROL VIOLATION STORM

Zvikomborero Parafini

BUSINESSMAN Grant Chitate is being accused of violating the Exchange Control regulations by making payments worth US$7 million outside Zimbabwe without authorisation from the Central Bank.

Chitate, of Grant Wellington Thulisa (Pvt) Ltd, was not asked to plead when he appeared before Harare regional magistrate Donald Ndirowei.

He was released on US$1000 bail and was ordered not to interfere with witnesses until the matter is finalised.

He will report once a week on Fridays at ZRP Chegutu and was ordered to surrender his passport.

Prosecutors alleged that between January 2019 and December last year, Chitate and his company, without the authority from the Exchange Control regulators, unlawfully made payments outside Zimbabwe by importing 9 455 100 kgs of LP gas valued at US$7,669,864.12.

Checks with the Grant Wellington Thulisa (Pvt) Ltd company accounts in Zimbabwe do not show payments of gas purchases and the value in the bank accounts do not match the value of the imports.

The State claimed that the discrepancies show that Chitate violated the Exchange Control Act by making payments outside Zimbabwe without authority.

Rufaro Chonzi prosecuted.