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*FCA Money At Risk Following Mnangagwa Announcement Threatening Use Of Forex* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?hc Kukurigo reports that Foreign Currency Accounts (FCAs) held by Zimbabweans in the country are now at risk following an announcement by President Mnangagwa that the use of foreign currency will be outlawed. Writes the publication: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > Mnangagwa also hinted at the concomitant return of exchange control restrictions that would make it illegal to pay salaries or suppliers in foreign currency, saying all foreign currency would have to be changed into the local currency, with transactions strictly in the local currency. > “When you go to South Africa and you have the United States dollar, Euro or whatever currency, you have to go to the bank and change it and get Rands. That is what you use in stores in that country” Mnangagwa said. > The moves come as authorities become increasingly desperate to access foreign currency for critical imports, with Treasury recently accusing industry and FCA holders of refusing to liquidate their foreign currency into RTGS dollars at the expense of critical imports. > Government’s increasingly militant economic posture, with authorities repeatedly accusing business of sabotaging the interbank foreign currency market, has jittered industry, with heightened creeping expropriation fears that the authorities will introduce a legislative framework allowing it to forcibly convert foreign currency balances. _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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