Zivanai Dhewa

The Ministry of Finance and Economic Development has released a press statement warning the public against a fake article circulating on social media pertaining to an alleged SMEs Covid 19 rescue fund.

Recently, Government has become concerned at the surge of more false messages on social media inviting entrepreneurs to submit applications for financial aid. 

Speaking through a press statement, the Ministry of Finance and Economic Development distanced itself from false statements advising people to take precaution and detach themselves from any association with the bogus information,

“The messages allege that the Department of Local Economic Development has partnered with the International Economic Development Council and Africa Investment Forum to provide financial grants for citizen owned businesses.  Further, the messages cite a non-existent Economic Empowerment Act No.9 of 2020 and SI 36 of 2019, which talks about Financial Services Authority (Regulatory Sandbox Exemption).

“These messages are hereby declared FALSE and should be regarded with the contempt deserved,” read part of the statement.

Government further warned the public to always confirm the authenticity of messages on social media with the parent Ministry before proceeding with the processes.

“To avoid loss of private information as well as actual and potential financial loss, the Ministry urges the public to ignore any malicious and in particular to check the authenticity of any information propagated on social media before sharing personal details,” the statement read

Meanwhile the Ministry has taken steps to ensure that the perpetrators of false information are thoroughly investigated and brought to book for their cybercrimes.

“In order to bring the perpetrators to book, appropriate actions to determine the origins of the messages is being pursued through the relevant law enforcement agencies,” read the press statement.

Similarly, in June last year, a notice was posted on a fake Ministry of Finance and Economic Development Twitter page, claiming that the IMF had approved US$2 billion interest free loan to Zimbabwe to address the impact of COVID19 in the country. In that regard, the article falsely encouraged SMEs and individual entrepreneurs to apply for financial aid in order to cushion them against the economic difficulties owing to Covid19.