Police have confirmed the arrest of Neville Mutsvangwa and two other men for allegedly trading in foreign currency illegally.

In a post on X on Thursday, national police spokesperson, Assistant Commissioner Paul Nyathi said Mutsvangwa (44) was arrested together with Elias Majachani (45) and Simbarashe Tichingana (38) for allegedly contravening sections of the Bank Use Promotion and Suppression of Money Laundering Act. The three men were expected to appear in court on Friday.

Mutsvangwa is the son of ZANU (PF) national spokesperson, Christopher Mutsvangwa and Monica Mutsvangwa, the Minister of Women Affairs, Community, Small and Medium Enterprises Development.

His arrest comes at a time the authorities have intensified a crackdown on illegal currency traders and followed the arrest of over 100 illegal currency traders countrywide, including 65 in Harare that are still in custody pending finalization of investigations and prosecution.

The government action is aimed at clamping down on speculative street currency trading that could lead to the devaluation of the recently introduced Zimbabwe Gold (ZiG) local currency.

The ZiG is a structured currency backed by gold reserves and about US$100 in foreign currency held by the Reserve Bank of Zimbabwe.

New Ziana