BY DESMOND CHINGARANDE
CFI director Chester-Noel Mutevhe has spent two nights in jail for contravening and manipulating the Alternate Management Act.
Mutevhe was arrested on Wednesday and was supposed to look in court docket yesterday, that means he has failed to look in court docket inside the prescribed 48
hours.
Allegations are that Tanaka Hofisi, appearing in frequent function with Matevhe and Shingirai Norman Chibanguza, who’re additionally administrators at CFI and Farm & Metropolis, pegged the value of a five-litre multi-clean liquid utilizing black market price of US$1:$184 towards the government-approved change price of US$1:ZW$88.
The State additional alleges that on October 7 this yr, John Marshall Chinembiri and Tanaka Lincoln Sanyamahwe from Reserve Financial institution of Zimbabwe’s Monetary Intelligence Unit went to Farm & Metropolis located in central Harare and purchased a five- litre multi- function liquid for $613,60.
Sanyamahwe went again once more and was allegedly offered the identical product for US$3,33.
The 2 RBZ investigators had been issued with level of sale receipts to this impact at a price of $184 per US$1 towards an public sale change price of $88,5532 per US$1 revealed on October 5, 2021.
This prompted the matter to be reported to the police and the next arrest of Hofisi, who’s now on $30 000 bail.
Statutory Instrument 127 of 2021 prohibits the promoting, show and providing of products and providers on the market at an change price above the public sale price in
Zimbabwe.
Observe Desmond on Twitter @DChingarande1
