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Lethokuhle Moyo Court Reporter
A 26-YEAR-OLD woman was yesterday fined $100 for operating an unregistered banking business in Bulawayo’s city centre.
Nomalanga Cheza of Old Lobengula suburb appeared before magistrate Sibongile Msipa facing charges of operating an unregistered banking business.

Cheza is a secretary of a financial services institution, Grind Investments Private Limited, that was used to carry out the illegal transactions.

She pleaded guilty and was fined $100.

Magistrate Msipa ruled that if Cheza defaults paying the fine by today, she would be jailed for 30 days.

Prosecuting Nkathazo Dlodlo told the court that in September 2014, Cheza opened a banking business in the city that was not registered in terms of the country’s banking laws.

The court heard that the banking business was used to receive money from South Africa for onward transmission to friends and relatives in Zimbabwe.

Dlodlo said Cheza charged a fee to  those who were using the illegal banking service.

“A text message would be sent to the accused person indicating the name of the person to receive the money in Zimbabwe and the total amount sent. The accused person would then charge a fee of 10 percent on the amount sent,” he said.

Dlodlo added that a register, a Nokia Asha 205 with a Telecel line and cash amounting to R2,180 were recovered from the company.