Masarira loses forex case

Fidelis Munyoro

THE High Court has dismissed opposition leader Ms Linda Masarira’s attempt to compel the Reserve Bank of Zimbabwe (RBZ) to enhance public access to foreign currency.

Ms Masarira, head of the Labour, Economists, and African Democrats (LEAD) party, argued that the RBZ’s foreign currency regulations were stifling ordinary citizens, particularly in securing essentials like fuel and passports.

Her plea was rooted in the belief that the central bank’s policies left the majority facing challenges to navigate a complex foreign currency landscape.

She sought a court order to declare the regulations unlawful and demanded that the RBZ facilitate easier access to foreign currency within 30 days.

However, Justice Christopher Dube-Banda found her claims lacking in substance, stating that she failed to demonstrate a direct interest or personal harm.

The judge emphasised that Ms Masarira’s arguments were abstract and speculative, lacking the necessary factual foundation.

Justice Dube-Banda noted that she did not provide evidence of personal attempts to buy foreign currency or fuel nor did she show that she had exhausted all avenues for accessing these resources.