HARARE – Zimbabwe's central bank has frozen bank accounts of four large companies that include fuel dealer, Sakunda as well as big car dealership, Croco Motors, pending investigations by the Financial Intelligence Unit of the Reserve Bank of Zimbabwe.
Sakunda is controlled by businessman Kuda Tagwirei, who is said to be politically connected. He also controls fuel supply in Zimbabwe through Trafigura and Sakunda. The RBZ has closed bank accounts of Sakunda and three other companies, namely Croco Motors, money market company Access Finance and Spartan Security.
In a directive to all Zimbabwean banks on Thursday, Wonder Kapofu, a director with the Financial Intelligence Unit at the Zimbabwean reserve bank, said financial institutions have to “freeze transactions in respect of all accounts” and the named companies as well as their related entities.
“The FIU is carrying out analysis on the above-named entities and their sister group companies. As we carry out further analysis, you are directed to freeze, with immediate effect, all accounts held in the names of the listed entities until further notice,” said Kapofu.
President Emerson Mnangagwa’s government has been battling to contain runaway inflation being exacerbated by the parallel market rates. This week, the government reportedly launched a crackdown on mobile money agents that were charging premiums of up to 50% for cash-outs from mobile money wallets.