Hawks probe illegal currency exchange at Libombo border with Mozambique

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Hawks probe illegal currency exchange at Libombo border with Mozambique

1:05 CAT | 21 Jun 2016

Mixed denomination rand currency banknotes are arranged for a photograph at a First National Bank (FNB) branch in Johannesburg, South Africa, on Friday, March 15, 2013. A recovery in mining and manufacturing is giving South Africa's rand and bonds a breather amid concern that growth is slowing while inflation accelerates. Photographer: Nadine Hutton/Bloomberg via Getty Images

The high rate of unemployment in South Africa has seen many women venturing into illegal businesses at the Libombo Border Post, along the N4 to Mozambique.

Illegal currency exchange continues to be on the rise. Thousands of tourists from both South Africa and Mozambique travelling through the border gate are confronted by hawkers who offer to exchange their money, either from the Rand to Metical.

It is reported that the exercise it is not in accordance with the laws guiding financial matters in the country.

Travelling to Mozambique is fast becoming a challenge. This as the hawkers who are desperate for employment opportunities venture into this practice.

Many of them, who spoke anonymously, say as much as they are aware that this an illegal exercise, they have no choice but do it because it’s their only source of income.

The Hawks in Mpumalanga have conducted several raids, but this exercise continues.

Source: SABC