President ED Mnangagwa’s government has handed a prison sentence to a trader who was caught while selling foreign currency in the streets of Harare.
New laws prescribe that unlicensed foreign currency traders face up to 10 years in jail if convicted and loss of their money and assets.
Police spokesperson Charity Charamba said in a statement yesterday one dealer has been jailed for eight months while another one was sentenced to pay a fine of $1 000.
“They were charged and convicted for contravening section 5(1) (a) (11) of the Exchange Control (Amendment) Regulations 2017 (Number 5), Statutory instrument 122A, which criminalise illegal dealing in foreign currency.
“Nicky Masikati was sentenced to pay a fine of $1 000 while Oscar Sixpence was sentenced to eight months imprisonment,” Charamba said in the statement.
dailynews
