A 24-year-old Harare man, Kudakwashe Welcome Maketo, appeared before the Harare Magistrates’ Court facing charges of contravening Section 5(1)(a)(ii) of the Exchange Control Act Chapter 22:05, as read with Section 4(1)(a) of the Exchange Regulations SI 109 of 1996 as amended by Section 2 of the Statutory Instrument 122A of 2017 and Section 3 and 4(2) of SI 245 of 2018 “dealing in currency”.
The court established that on August 1, 2024, police officers spotted Maketo, a resident of New Tafara, Harare, at Kamunhu Shops in Mabvuku, offering to buy foreign currency from passers-by in exchange for local currency.
The police officers approached Maketo and agreed to exchange money with him. Maketo offered them a rate of US$1 to ZWG16 and the officers transferred a total of ZWG320 from their mobile wallet into Maketo’s wallet.
Maketo was subsequently arrested when he received the US$20 trap money. During the arrest, he was found in possession of 5 bank cards.
The court convicted Maketo of “dealing in currency” and sentenced him to 6 months imprisonment, with 3 months suspended for 5 years, resulting in an effective sentence of 6 months.
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A man named Kudakwashe Welcome Maketo from Harare went to jail for buying foreign currency with local money. On August 1, 2024, police caught him in Mabvuku offering to exchange money. The police pretended to trade with him and gave him ZWG320 for US$20. They arrested him when he took the money. He was sentenced to 6 months in jail, with 3 months suspended, for "dealing in currency". Maketo was found with 5 bank cards during the arrest. Buying foreign currency is against the law in Zimbabwe.

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