Banknotes for the new national currency, Zimbabwe Gold (ZiG for short), were unveiled at a press conference by the Central Bank of Zimbabwe. (Columbus Mavuhunga/Photo Alliance via Getty Images)
- Zimbabwe's finance minister has asked veterans to help declare war on those who do not accept the country's new currency.
- State security agencies monitor those conducting illegal financial transactions in public places.
- A member of the ruling party's elite political family has been arrested on suspicion of illegal financial transactions.
A month after the gold-backed ZiG currency was introduced in Zimbabwe, the government set up a Gestapo-like surveillance apparatus to catch those who reject the new currency.
Addressing the country's liberation veterans in Bulawayo on Saturday, Finance Minister Professor Mthuli Ncube urged those allegedly opposed to the currency to declare war.
“You have fought for the independence of this country, so now you should fight for this new currency,” he said.
In recent years, military veterans have played a combative role in supporting the government and enforcing its policies.
The Zimbabwe Republic Police, the Reserve Bank of Zimbabwe's Financial Intelligence Unit and the Zimbabwe Anti-Corruption Commission are each carrying out separate operations to force acceptance of ZiG.
National Police Spokesman Assistant Commissioner Paul Nyati told the media that 224 suspected illegal foreign currency traders and money exchangers have been arrested and 90 bank accounts have been frozen.
Last week, a transaction landed a teacher in jail on suspicion of illegal financial transactions.
Read | Zim government is now calling for the revival of mobile money services after blaming them for the currency collapse
Albert Nyambara, 37, an elementary school teacher, innocently handed over his bank card to an undercover police detective to buy most of his groceries on ZiG, but the exchange rate was in US dollars.
According to the police indictment, “a suspect approached a detective who was pushing a trolley loaded with various groceries… Upon approaching the detective, the suspect discovered that he had ZiG in his Cavs Bank account and was offering it in exchange for U.S. dollars. The offered rate was 14.11 Jig per USD 1, plus 5 USD as a token of appreciation. ”
He was followed outside the supermarket and arrested there.
Also read | Zimbabwe imposes fines on those who do not use official ZiG rates
News of these police raids prompted money changers to switch to WhatsApp and refuse to transact with strangers.
To reassure people, Mr Nyati said there was no police activity inside the supermarket.
There are no sacred cows
Neville Mutsvangwa, son of Women's Affairs Minister Monica Mutsvangwa and her husband, former presidential aide Chris Mutsvangwa, arrested on charges of illegal foreign exchange transactions, cash transactions, money laundering and illegal possession of Starlink routers and antennas. It was done.
Two of his friends, Elias Majachani and Simbarashe Tichingana, were refused bail and are scheduled to appear in court on May 30th.
However, Mutsvangwa's parents insisted the arrest was politically motivated and linked to factionalism within the ruling Zanu PF party.
Opinions are divided following the arrest, with some arguing that the courts are being harsh and others arguing that the law should not be selective.
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