BY TREVOR MUTSVAIRO
A top executive of a Harare firm was on Tuesday arraigned before the courts on charges of illegally dealing in foreign currency.
Zvikomborero Kapfeni of Nordship Investments was remanded to April 20 for trial.
On December 21 2020, Nordship Investments connived with Mberengwa Rural District Council (RDC) chief executive officer, Thomson Mayeresera and finance executive, Joice Gumbo to trade US$7 272.73 for local currency, the court heard.
Nordship Investments allegedly bought foreign currency at black market rate of US$1: $110 and made a transfer of $80 000 to Mberengwa RDC’s ZB bank account on December 23 2020.
Nordship Investments and Mberengwa RDC are both accused of illegally dealing in foreign currency contravening the Exchange Control Act Chapter 22.05 as read with Section 4 (1) (1).
Caroline Mutimusakwa represented the State.