Jump to comments Zimplats chief executive officer Alex Mhembere The investigation comes as Harare battles to stem a blazing cash crisis precipitated by massive outflow of cash estimated by the central bank at $1,8 billion last year alone Prominent names from the list released early this month from the leaked documents of a Panama law firm include Zimplats chief executive officer Alex Mhembere former Aico chief executive HappymoreMapara plus well known businessmen Billy Rautenbach and John Bredenkamp have been named for paying executives through offshore companies and accounts The central bank noted that there were legal reasons for opening offshore account and said it would approach the issue with an open mind as not everyone named could be guilty of crime the bank has questioned the morality of transferring large amounts of cash to tax havens like the Cayman Islands and the British Virgin Islands “We have 280 Zimbabweans on the Panama Papers which the Reserve Bank investigating,” said Morris Mpofu the central bank’s director for Exchange Control addressing the 77th annual general meeting of the Chamber of Mines of Zimbabwe Some took funds to the British Virgin Islands and the Cayman Islands,” he said noting that the introduction of the multicurrency system in 2009 which is credited with briefly stabilising the economy until 2012 had seen international criminal syndicates taking advantage of the country’s lax policing of its financial systems three foreign nationals had camped at a five star hotel in Harare They then slipped out of the country after bribing officilals at the border post the RBZ has tightened the screws on withdrawals with individuals now permitted to withdraw a maximum of $1,000 per day very few Zimbabweans earn $30,000 per month” “The challenges that we faced when we liberalised the economy is that we opened up and became a safe haven for international criminals Zimbabweans also became ill-disciplined as well Zimbabwe has become a fishing pond of hard currency.” “We have been using our foreign exchange irresponsibly over the past five years and that has also affected the situation we are in,” said Mpofu ACTIVE GERMAN HAGER WERKEN FOR SALE HAGER WERKEN EMBALMING COMPOUND PINK POWDER German Produced Hager Werken Embalming Compound German Produced Hager Werken Embalming Compound Pink Powder +27720447606 SOUTH AFRICA lusaka kampala nairobi johannesburg rastenburg mafiheng Durban cape town Gaborone Francis town Botswana Zambia USA MALAYSIA UK LONDON AUSTRALIA canada Embalming compound in powder form both PINK and WHITE confidence you have demonstrated by favoring strive to constantly improve our embalming chemicals and chemical sundries to meet your Email: infoephedrine@gmail.com Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Interested in advertising? Advertise with us Partner with us now A moderate magnitude 4.5 earthquake hit 63 km (39 mi) away from Kuwait City, Al Asimah,  Kuwait 2021 at 11.31 am local time (Asia/Kuwait GMT +3) The depth of the quake could not be determined but is assumed to be shallow.The quake was felt widely in the area The shallow depth of the quake caused it to be felt more strongly near the epicenter than a deeper quake of similar magnitude would.