Online Reporter
Prosper Dembedza
Herald Correspondent
A local businessman recently appeared in court on allegations of contravening the Exchange Control Act after laundering US$1 158 413.
Sungai Chibaya (38) was granted US$50 bail when he appeared at the Harare Magistrates Court and will be back in court on November 11.
The court heard that during the period between February 14, 2024 and July 24, 2025, and at shop number 12A corner Albion Street and Joseph Msika Street (formerly Cameroon Street), Harare, Chibaya received cash from clients for buying and shipping of goods from Tanzania and Zambia amounting to US$1 158 413 and then unlawfully and intentionally made payments to suppliers of the goods in Tanzania and Zambia or incurred some obligation to make payment outside Zimbabwe without the authority of the Reserve Bank of Zimbabwe.
