Staff ReporterHarare, Zimbabwe — The High Court of Zimbabwe has deferred the bail ruling for Neville Mutsvangwa to the 31st of May 2024. Mutsvangwa, along with co-accused Ellas Majachani and Simbarashe Tichingana, appeared in court today for a re-hearing after Justice Esther Muremba recused herself from delivering the judgement.
The trio faces charges under multiple sections of Zimbabwean law, including contravening section 5(1)(a)(ii) of the Exchange Control Act (Chapter 22:05), in conjunction with section 4(1)(a)(1) of the Exchange Control Regulations SI 109 of 1996, which pertains to “Dealing in foreign currency.” They are also accused of violating the Bank Use Promotion and Suppression of Money Laundering Act, and breaching the Money Laundering and Proceeds of Crime Act.
Mutsvangwa, aged 44, Majachani, aged 45, and Tichingana, aged 38, were taken into custody under allegations of illegal foreign currency dealings and money laundering activities. The National Prosecuting Authority of Zimbabwe has emphasized its commitment to combating crime and corruption as highlighted in their latest update.
The defendants’ legal team argued for bail, but the court reserved its decision, extending the uncertainty surrounding the high-profile case. The next hearing is scheduled for the end of May, where the court is expected to make a definitive ruling on their bail application.
The National Prosecuting Authority of Zimbabwe remains vigilant in its efforts to address and mitigate financial crimes, stressing the importance of adherence to legal financial practices within the country.
