100 RETAIL OPERATORS NABBED FOR NOT ACCEPTING ZIM DOLLAR, BOND NOTES

HARARE - Refusing to accept the Zim dollar and bond notes as payment for goods has landed 102 Zimbabwean business owners and retail employees in trouble, with 28 of these appearing in court as the government enforces acceptance of the fast-falling local unit amid increased dollarisation of the economy.

As Zimbabwe’s economy re-dollarises, some retail outlets are no-longer accepting payment for goods and services in the form of bond notes.

However, John Mangudya, governor of the Reserve Bank of

Zimbabwe, has reiterated that Zim dollar and bond notes and coins “are still legal tender.”

The Zimbabwe Republic Police (ZRP) is now enforcing the Bank Use Promotion and Suppression of Anti Money Laundering Act to enforce usage of the local currency.

“Traders and business entities who continue to refuse to accept Zimbabwe currency bond notes and coins as a legal tender in business transactions risk being arrested and taken to court for the law to take its course,” said the ZRP in a statement on

Wednesday.

Retail operators and employees of retail outlets in Harare are appearing in court charged with violating the Bank Use and Promotion Act through side-lining the local currency as a medium of exchange. According to police authorities in Zimbabwe: “A total of 102 suspects have been arrested with 28 appearing in court in Harare” since the onset of a blitz code named “Accept Zimbabwe currency” as legal tender on June 26.

President Emerson

Mnangagwa’s administration in Harare is battling to restore confidence in the local unit of exchange which has continued to lose value, with the official and street rates ballooning.

Bigger retailers such as OK Zimbabwe and Pick n Pay, however, are still accepting the local units of exchange.

Denford Mutashu, president of the Confederation of Zimbabwe Industries told Fin24 that retailers have to accept the Zim dollar and bond notes to smoothen transactions and payment for goods and services.–