BUSINESS REPORTER
Government has blacklisted 13 contractors for fuelling illegal parallel market activities as it moves to stabilise the local currency and contain inflation.
The blacklisting of the 13 companies, the second in five months, comes after the Financial Intelligence Unit exposed the entities for unlawful conduct, Finance and Economic Development minister Mthuli Ncube (pictured) said in a statement.
The blacklisted companies are Casha Designs (Pvt) Ltd, Re-net Technologies (Pvt) Ltd, Malfran Investments (Pvt) Ltd, Difflock Construction (Pvt) Ltd, Staman Investments (Pvt) Ltd, Guide Marketing (Pvt) Ltd, Nodship Investments Pvt Ltd and Infinity Hire Pvt Ltd. Others include Nomalanga Marketing Pvt Ltd, Gift Mwayers t/a Mwayera Transport Pvt Ltd, Mukota Haulage and Buses, Ofixmore Marketing Pvt Ltd and Blecia Investments.
“Resultantly, Government has blacklisted the aforementioned companies so as to maintain stability in the foreign currency market and to curb inflation. In the same vein, the Procurement Regulatory of Zimbabwe will be advised to permanently remove the entities from the list of potential service providers to government,” Ncube said.
In November, the Treasury blacklisted 19 companies for fuelling parallel market activities. There have been concerns that government suppliers were fuelling parallel market activities as they search for the greenback after being paid. This led to the rout of the local currency, leading to a spike in prices of basic goods and services.
In August, the government introduced the value for money concept after it emerged that some suppliers were deliberately inflating prices resulting in some ministries and departments exhausting their budgets.
The value for money concept prescribes the blacklisting of suppliers that fleece the government. The concept also dictates that stern action should be taken by the government on officials in ministries, departments and agencies that play a midwife role in inflating prices by suppliers.
