THE recent spectacle of public figures such as Wicknell Chivayo and Zanu PF officials openly flaunting vast sums of cash — outside formal banking channels — is not just a vulgar display of wealth but a blatant violation of financial regulations.
Before his lobola ceremony earlier this month, Chivayo boasted on social media about giving his messenger US$50 000 in cash, while keeping another US$75 000 in his car “for any shortfalls”.
Similarly, last month, Zanu PF officials from different provinces publicly displayed cash amounting to US$150 000. The money, handed over by Presidential Adviser for Special Investments Paul Tungwarara, was reportedly from the War Veterans Welfare Fund.
These brazen acts expose a dangerous culture of impunity, where financial laws are disregarded by those in power, while regulators remain conspicuously silent. When transactions involving tens of thousands of dollars are conducted in cash, without bank records, it becomes nearly impossible to trace the source of funds.
This facilitates corruption, tax evasion, and money laundering — key factors in Zimbabwe’s economic instability.
Carrying such vast sums in vehicles or displaying them publicly invites crime. If criminals target these individuals, the violence could spill over to innocent bystanders.
Moreover, it normalises risky financial behaviour, encouraging others to keep large amounts of cash outside secure banking systems.
When influential figures openly defy financial laws, it erodes public trust in banks. If elites can operate outside the system without consequences, why should ordinary citizens comply with strict withdrawal limits or transaction reporting?
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This could accelerate the collapse of formal banking, pushing more transactions into the shadow economy.
The most alarming aspect is the inaction of the Reserve Bank of Zimbabwe (RBZ) and the Financial Intelligence Unit (FIU).
Zimbabwe has strict financial laws — the Bank Use Promotion Act and Anti-Money Laundering Regulations — yet no action has been taken against these flagrant violations. This selective enforcement suggests that political connections shield offenders, reinforcing the perception that Zimbabwe operates under a two-tiered legal system: one for the powerful and another for ordinary citizens.
We are calling upon the RBZ and FIU to investigate these cash movements and prosecute offenders, regardless of political affiliation. Large cash transactions should trigger mandatory reporting and scrutiny.
Encouraging mobile money, card payments, and bank transfers would reduce reliance on cash, making illicit dealings harder to conceal. The ruling party must lead by example. If Zanu PF officials continue disregarding financial laws with impunity, it sends a message that Zimbabwe’s institutions are powerless against political influence.
The unchecked circulation of large cash sums by politically connected individuals is not just a financial issue — it is a direct threat to Zimbabwe’s economic stability, security, and rule of law.
The RBZ and FIU must act decisively, or the country risks descending further into a cash-based, lawless economy where some animals are more equal than others.
