Zimbabwe cracks down on Chinese business – The Zimbabwe Mail

📅 Published: August 18, 2025

📰 Source: thezimbabwemail_enhanced

Curated by AllZimNews.com

You do not have bank accounts,” Muguti said, signalling growing frustration within government ranks over alleged non-compliance with Zimbabwe’s financial regulations.

Authorities say some Chinese businesses have been bypassing the formal banking system, allegedly engaging in cash-based transactions that raise concerns over money laundering and tax evasion.

Environmental watchdogs have also accused certain operators of damaging ecosystems through unregulated mining, deforestation, and pollution, particularly in rural provinces.

The crackdown comes amid increasing public pressure for the government to hold foreign investors accountable for their business practices.

Critics argue that lax enforcement in the past allowed violations to go unchecked, while communities bore the brunt of environmental degradation and resource exploitation.

Relations between Zimbabwe and China have been a cornerstone of Harare’s foreign policy since the early 2000s, with Beijing providing loans, infrastructure investment, and technical assistance.

However, analysts say the latest government stance reflects a growing desire to ensure that foreign investment aligns with local laws, sustainable development goals, and fiscal transparency.

Officials have hinted at stricter monitoring of foreign-owned companies, including mandatory local bank accounts, environmental compliance audits, and harsher penalties for violations.

While the government maintains that Zimbabwe remains open to investment from China, it is making it clear that such partnerships will now be subject to tighter oversight.

This policy shift signals what some observers view as a recalibration of Zimbabwe’s “Look East” policy — not an abandonment of Chinese ties, but a demand for more equitable, transparent, and lawful engagement. 🔗

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