Financial Intelligency Keeps Sakunda Account Frozen; Blocks Five More Accounts

Financial Intelligency Keeps Sakunda Account Frozen; Blocks Five More Accounts
Image Credit: Business Daily

Reserve Bank of Zimbabwe has not changed its stance on frozen accounts but has added five more accounts to the number of accounts stopped from making transactions.

Added accounts include Bill Height Investments Private Limited, Landela Investments, Rimosa Trading Private Limited, Fossil Agro (Pvt) Ptd and Traverze Travel (Pvt) Ltd.

RBZ had frozen Sakunda Holdings and Croco Motors earlier on and put under investigations.

The investigations come after a surge of the US dollar against the Bond Note to 14% last week.

RBZ revealed that Sakunda accounts remain frozen in response to social media reports of the unfreezing of accounts.

The central bank called reports suggesting a directive issuing the unfreezing of accounts false.

“We advise that the accounts of the entities named in the directive remain frozen, pending finalisation of our analyses,” Financial Intelligence Unit (FIU) Director General M E Chiremba said.

“We will communicate to relevant stakeholders through appropriate channels when the process has been concluded.”

The freezing of Sakunda and Croco Motors accounts did not manage to bring down the US dollar rate with the Bond note which had gained on Friday going down again this week.

Prices of goods have also been increasing by 40% with economists stating of a hyperinflation in Zimbabwe

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