A company got busted for moving a huge chemical shipment outside the banking system. Prenuel Enterprises faced conviction in Harare Magistrates’ Court for illegally importing methanol valued at over four hundred twenty-three thousand dollars without Reserve Bank of Zimbabwe approval. The imports happened across a three-month period starting in early January. While the Zimbabwe Revenue Authority cleared the goods at the border, investigators discovered the firm never registered with RBZ Exchange Control as an importer and paid for everything using informal channels outside official banks.
Represented in court by Zvikomborero Nyakutira, forty-six, the company pleaded guilty. The court imposed a fine of three thousand five hundred dollars, or its ZiG equivalent, with a payment deadline in March next year. Authorities warned that non-payment would trigger seizure of company assets. The National Prosecuting Authority issued a reminder that exchange control rules are not optional, stressing that all such transactions must flow through the formal banking sector.
Represented in court by Zvikomborero Nyakutira, forty-six, the company pleaded guilty. The court imposed a fine of three thousand five hundred dollars, or its ZiG equivalent, with a payment deadline in March next year. Authorities warned that non-payment would trigger seizure of company assets. The National Prosecuting Authority issued a reminder that exchange control rules are not optional, stressing that all such transactions must flow through the formal banking sector.
