Zimbabwe gazettes a new law criminalising unlicensed currency trading

Over the past two weeks, Zimbabwe’s bond notes have devalued by up to 80% and President Robert Mugabe has threatened to deal with what he called economic saboteurs.

Over the past two weeks, Zimbabwe’s bond notes have devalued by up to 80% and President Robert Mugabe has threatened to deal with what he called economic saboteurs?


Zimbabwean authorities have gazetted a new law criminalising unlicensed currency trading in an attempt to stem out a thriving parallel market for foreign banknotes in the country.

The new law means those dealing illegally in foreign currency face up to 10 years in jail.

Over the past two weeks, Zimbabwe’s bond notes have devalued by up to 80% and President Robert Mugabe has threatened to deal with what he called economic saboteurs.

Zimbabwe Police Assistant Commissioner Charity Charamba says, “We welcome the law because it assists the police and it is also deterrent. If somebody involved in a particular offence and they are taken to prison definitely they will not engage in the same crime when there is something that is deterrent. In Bulawayo, they have conducted some raids on those who change money. Especially here, they conducted an operation and this is going to be countrywide.”