Two employees of a Harare-based entity have appeared in court facing allegations of running an unlicensed money transfer business that illegally moved more than US$1.5 million offshore.
Kudzai Munatsi, 37, of Marondera, and Natash Matare, 25, of Kuwadzana 6, both employed by Global Packaging Services Investments (Pvt) Ltd in Belvedere, were arraigned before the Harare Magistrates’ Court on Monday.
Prosecutors allege that between January and August 18 this year, the pair facilitated illegal external payments amounting to US$1.55 million to the United Arab Emirates on behalf of local clients.
Investigators say the accused received cash in Zimbabwe and settled payments abroad without Reserve Bank of Zimbabwe (RBZ) approval.
They were arrested on August 18, and detectives reportedly recovered receipt books and US$310,145 in cash linked to the alleged transactions.
Munatsi and Matare face two counts – making external payments without RBZ authority, in violation of the Exchange Control Act [Chapter 22:05] and accompanying regulations, and money laundering by concealing the source and movement of illicit funds.
The matter was remanded to September 15, with each accused released on US$500 bail.
