Police raid forex dealers
POLICE in Bulawayo have launched a blitz targeting illegal forex changers popularly known as ‘osiphatheleni’ for hoarding cash at a time when the cash crisis has intensified.
The blitz started on Tuesday and by yesterday, an unknown number of forex dealers had been arrested.
Bulawayo police spokesperson Inspector Precious Simango said the police will continue to raid cash barons.
“We have launched a campaign targeting illegal money changers among other cash barons,” she said. “I cannot immediately confirm the number of people we have arrested so far. But the raids will continue as we try to arrest those hoarding cash.”
Insp Simango appealed to members of the public to assist the police with information that will lead to the arrest of cash barons.
“We also appeal to members of the public to desist from buying cash on the street because they also expose themselves to criminals,” she said. “A lot of people have lost their money while trying to sell or buy money.”
Police sources said when the raids were carried out, the illegal money changers were not as many as intelligence suggested.
“Since Saturday, there has been reports of people coming in cars from Harare to sell cash in Bulawayo,” she said. “But before we even started the raids, they have disappeared.”
Illegal forex dealers yesterday boasted that they were connected to people in high places.
“We know beforehand about these raids,” said one of the illegal forex dealers who declined to be named. “The few who get arrested are not connected. They may be working as lone rangers.”
The news crew observed that most osiphatheleni were not hanging around their usual spots, with a few defiant ones saying they would not leave the streets.
“Why are the police arresting us, we haven’t done anything wrong. They came this morning and took away our friends, but the charge being used to arrest us is not clear,” said another dealer.
One of the illegal dealers said Government should target the people who were causing cash shortages instead of using them as scapegoats.
“We only make a profit of 50 cents in most of the transactions that we do,” he said. “By arresting us they are not dealing with the problem. The roof is leaking and they think they will solve the problem by cleaning the floors. They should first deal with the problem.”
It has been alleged that banks, politicians and other business people are supplying osiphatheleni with cash so that they can sell it for them.
Last week, the Minister of Finance and Economic Development Patrick Chinamasa said
despite fines, Government was yet to promulgate a law that specifically deals with cash hoarding and selling of money on the black market.
There is no law to charge osiphatheleni when they get arrested and they usually pay paltry fines mainly for blocking the pavement during their operations.