Home News 13 companies blacklisted for fueling black market dealings

13 companies blacklisted for fueling black market dealings

by Bustop TV News

GOVERNMENT has blacklisted 13 companies for channeling funds to the illegal forex market.

In a statement released on Monday, finance minister Mthuli Ncube said the companies were syphoning their proceeds to the black market and fueling inflation and the blacklist was as a way to to maintain stability in the foreign currency market.

The companies are as follows;

1. Casha Designs Pvt Ltd

2.  Re-net Technology Pvt Ltd

3. Malfran Investments Pvt Ltd

4. Difflock Construction Pvt Ltd

5. Staman Investments Pvt Ltd

6. Guide Marketing Pvt Ltd

7. Nodship Investments Pvt Ltd

8. Infinity Hire Pvt Ltd

9. Nomalanga Marketing Pvt Ltd

10. Gif Mwayera  t/a Mwayera Transport Pvt Ltd.

11. Mukot Haulage and Buses Pvt Ltd

12. Ofixmore Marketing Pvt Ltd.

13. Blecia Investments.

“A total of 13 companies have been identified by the Financial Intelligence Unit (FIU) as being involved in this 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,” said Ncube.

Ncube added: “In the same vein, the Procurement Regulatory Authority of Zimbabwe will be advised to permanently remove the entities from the list of potential service providers to government.

“Government remains committed to maintaining price stability, restoring market discipline and engendering market confidence,”

Last year, 19 companies were also blacklisted for fueling black market dealings.

Related Articles