The Zimbabwean government has taken decisive action against economic sabotage by blacklisting fifty-one contractors who have been involved in offloading ZiG payments onto the black market. This illegal activity has significantly contributed to the spiraling black market forex rate, undermining economic stability efforts.
Government Surveillance and Blacklisting
Since July 18, 2022, the Financial Intelligence Unit (FIU) has been monitoring these contractors following a directive from the Treasury. The government’s aim has been to identify and curb illegal foreign currency dealings that distort market forces. This initiative is part of a broader strategy to align the macro-economy with the liberalized foreign exchange market, where exchange rates are determined by supply and demand within the banking system.
Introduction of ZiG and Economic Stability
The introduction of the ZiG as legal tender on April 5, 2024, has been a cornerstone of economic stability in Zimbabwe. This measure has contributed to a more predictable and stable economic environment, essential for providing value to the hard work of Zimbabwean citizens. Maintaining this stability is critical, and the government is committed to taking actions necessary to preserve it.
Accountability and Compliance
Contractors benefiting from government contracts are expected to comply with regulations that promote economic stability. Those who fail to adhere to these expectations, and engage in activities that destabilize the economy, such as fueling the black market, face severe consequences. The government’s decision to blacklist non-compliant contractors serves as a stern reminder that economic stability is a collective responsibility benefiting all Zimbabweans. Contractors are urged to respect government policies to continue receiving government contracts and contribute to the nation’s economic well-being.
Call to Action for Zimbabweans
The government calls on all Zimbabweans to reject economic saboteurs who undermine national efforts for personal gain. Collective vigilance and cooperation are vital in fostering a stable and prosperous economy for all.
