BLACKLIST: Government names and shames contractors it has kicked out

The Zimbabwe government has blacklisted contractors it accuses of channeling funds to the illegal foreign exchange market.

The list and reason was announced by the Minister of Finance and Economic Development Professor Mthuli Ncube.

A total of 19 companies have been identified by the Financial Intelligence Unit (FIU) to be involved in this unlawful conduct are as follows:

i. Nariox (Pvt ) Ltd
ii, New Age Marketers (Pvt } Ltd
ii. Pepwit Investments (Pvt ) Ltd
iv. Tirumi Investments (Pvt) Ltd
v. Mwendo Africa (Pvt } Ltd
vi. Alg World Investments (Pvt ) Ltd
vii. Lobmer Investments (Pvt ) Ltd
viii. Nisbank Enterprises (Pvt ) Ltd
ix. Sailgroom Enterprises
x. Wayvar Investments
xi. Poweride Safaris
xii. Azelion Energy (Pvt) Ltd
xiii, Blackdeck (Pvt) Ltd
xiv. Paza Buster (Pvt) Ltd
xv. Redan Coupon (Pvt) Ltd
xvi. The Best Car Renial
xvii. The Legacy Car Rental
xviii, Josam Enterprises (Pvt ) Ltd
xix. Construction Warehouse (Pvt ) Ltd

Prof Ncube proceeded to add as below:

The FIU has noted that upon receiving their payments, the companies would engage in spontaneous illegal foreign currency transactions through buying foreign currency from individuals and entities. It was also noted that some of the companies would engage in transactions which are not related to their line of business. Some would also purchase fast moving consumer goods from various manufacturers and the goods would then be sold exclusively in foreign currency.

The Procurement Regulatory Authority of Zimbabwe (PRAZ) will be advised accordingly, to blacklist these entities from doing business with Government.