DESPITE several warnings by the Ministry of Finance and Economic Development and, more recently, the Reserve Bank of Zimbabwe (RBZ) that landlords should stop pegging their properties in foreign
currency, the plea seems to have fallen on deaf ears.
“After the banking scam, Gideon Gono is moving in on houses,” said a high-ranking RBZ official. “Gono seems to have the mandate to clean up this mess.”
Gono, in his mop-up operation now popularly known in financial circles as “Operation blood, sweat and tears”, has turned the banking sector topsy-turvy. On the property front houses in plush suburbs are, however, still being advertised by estate agents in foreign currency especially the United States dollar and the British pound.
Properties are going for as much as US$300 000.