Source: Exchange rate charges against Farm & City directors dropped | The Herald
Nyore Madzianike Senior Court Reporter
THE State has dropped charges against directors of Consolidated Farming Investments, which trades as Farm & City, on allegations of selling products using an exchange rate above the official rate.
The two directors are Tanaka Hofisi and Chester Noel Muteve.
Mr Lancelot Mutsokoti, appearing for the State, withdrew the charges before Hosifi and Muteve pleaded before Harare regional magistrate Mr Tinei Manwere.
The State had initially applied that Hofisi and Muteve be removed from remand, saying it had no idea of when they would be able to amend charges that he was facing.
Mr Manwere had asked the State to amend Hofisi and Muteve’s charges when he dismissed his application for exception.
“We apply that the accused be removed from remand as the State does not know when it would be done with wording of his charges,” said Mr Mutsokoti.
“We will summon the accused back to court when we are done with wording of the charges.”
Mr Manwere then withdrew the charges, saying Hofisi and Muteve will be summoned back in court when the State was ready to prosecute him.
Allegations against Hosifi and Muteve were that they connived to sell their products using $185 as the exchange rate.
It was said that by the time of their arrest, they had pegged the price of a 5-litre multi-clean liquid at $613,60 or US$3,33, implying that their exchange rate was $185 against US$1.
This, according to the State, was against the official exchange rate announced on October 5 last year.
Mr Mutsokoti had alleged that Statutory Instrument 127 of 2021 prohibits selling, displaying and offering of goods or services for sale at an exchange rate above the ruling exchange rate in Zimbabwe.
It was the State’s case that on October 7, officials from the Financial Intelligence Unit, John Marshall Chinembiri and Tanaka Lincoln Sanyamahwe, went to Farm & City along Wynne Street in Harare and bought the 5-litre multi-clean liquid for $613,60 and US$3,33.
The two FIU officials were given point of sale receipts.
The State had it that on October 6 last year, the police learnt through social media that Simbisa Brands was selling Russian sausage and chips for US$1 or $200, which was said to be against the official exchange rate.
The court heard that on the following day, RBZ deployed officials to make investigations in various shops.
It was when they discovered that Hosifi and Muteve’s were selling using an unofficial rate leading to their arrest.
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