Zanu-pf MP involved in forex scam involving South African Reserve Bank
  FX110 2023-03-15 09:34:12
Description:"If you want $10,000 but you have RTGS (Real Time Gross Settlement System), if that\'s what you want, fine, but I\'ll add a markup on the percentage." I will raise the price by 4 percentage points because of the cost involved and my people at th

According to foreign media reports, Mazowe North MP Campion Mugweni (ZANU-PF) is suspected of engaging in illegal foreign exchange transactions in cooperation with some officials of the Ministry of Finance.


In a leaked audio recording, Mr Mugweni said he charged 4 per cent interest on the transactions to cover costs, including a fee paid to the Reserve Bank of Zimbabwe's Treasury team.


"If you want $10,000 but you have RTGS (Real Time Gross Settlement System), if that's what you want, fine, but I'll add a markup on the percentage." I will raise the price by 4 percentage points because of the cost involved and my people at the Treasury will push the deal." Mugweni was speaking to a representative of the Reserve Bank of Zimbabwe in the audio.


Mugweni has been at the centre of a storm in his constituency, with senior ZanU-PF officials condemning him for disappearing from his constituency only to return to run for re-election.


Mugweni has even been nicknamed the "missing MP" because he has been absent from his constituency since his election. Mugweni did not immediately respond to requests for comment.


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