In a recent post seen on X by Newsreportzim.com Snowball Tongogara aka AKWAYA guy emphasized that Ever since the introduction of the ZiG, cunning forex dealers have come up with an ingenious way to subvert and sabotage the new local currency. Of late, forex traders get forex buyers’ debit cards and hoard basic commodities in large supermarkets, then in turn, sell the hoarded goods to down –town tuckshop owners in USD, which they in turn give to forex buyers. This has resulted in the emergence of empty shelves and depreciation of the ZiG on the parallel market.
Zimbabweans are their worst enemies. The depreciation of the ZiG on that black market as a result of speculative behaviour by forex traders is tantamount to shooting oneself in the foot.
It is sad that supermarkets, which are not wholesalers, but retailers, are allowing hoarding of basic goods by speculators in ZiG, causing unnecessary panic buying by ordinary Zimbabweans. The ongoing blitz against forex traders have resulted in them avoiding being monitored by the Financial Intelligence Unit (FIU) as their accounts no longer transact in ZiG as they simply use a buyer’s card without the money ever reaching their account.
It is sad that forex dealers now camp outside supermarkets soliciting for people’s cards, and collude with till operators to reap USD from customers. This practice short-changes the supermarket and gives oxygen to parallel market trading. The Police must crack on the practice, while the Retail Association of Zimbabwe and Consumer Council of Zimbabwe should nip the immoral activities by till operators and supermarkets.
Forex traders should be charged with economic sabotage aimed at harming the country’s economic interests. Deterrent jail sentences of up to 10 years in prison should be mandatory to stop the saboteurs
Social media reactions;
Caeser Cicero
I think legal literacy should be mandatory for everyone .. how is everything you described there a crime ? 😆 🤣
Mupambi Ziyabaya
Kungopihwa Akwaya watove investigative journalist 🤣🤣🤣
At law, citizen law enforcement inobvumidzwa. Enda kumapurisa ne information yakanakisa yauinayo vasungwe ZiG idzokere kugym ivake muviri
Moore
🤣 History is a serious financial Advisor, money doesn’t need trust, all it needs is transparency and verification…. No jingles are needed 😂😂😂
Source Newsreportzim.com
