Munyaradzi Mashiri- Court Correspondent
Vorivet Investments Private Limited has been arraigned before the court on allegations of contravening the Exchange Control Act over irregular import payments amounting to US$167,058.
The Harare-based plasticware manufacturing company and its representative, Tichaona Tekwani, appeared before magistrate Donald Ndirowei charged with externalising foreign currency.
The company was granted US$500 bail pending trial.
According to investigations, in May 2025 the firm imported naphthalene worth US$167 058 from South Africa.
Although the consignment was cleared by the Zimbabwe Revenue Authority at the border, the Reserve Bank of Zimbabwe later revealed that Vorivet Investments was not a registered importer.
The State further alleges that the company failed to process payments for the imports through the formal banking system, raising suspicions of money laundering.
The source of the funds used for the transaction remains unknown.
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