Chinese Company Sunny Yi Feng Tiles Closed For Not Complying With Environmental Regulations

Sunny Yi Feng closed- iHarare

Sunny Yi Feng Tiles Zimbabwe Closed By EMA

The Environmental Management Authority (EMA) has suspended the operations of Sunny Yi Feng Tiles Zimbabwe.

Sunny Yi Feng Tiles Zimbabwe is a tile manufacturer based in Norton. The company was shut down after it defied EMA’s order to install emission sampling points, The Herald reports.

In an interview with the publication,  EMA spokesperson Ms Amkela Sidanke said they had ordered Sunny Yi Feng to halt all operation on or before 16 August 2020.

She said that on 5 August, Sunny Yi Feng had been ordered to establish emission sampling points for a sampling exercise that would be facilitated by the agency scheduled for August 12. Sidanke said:

However, on the date earmarked for the sampling exercise, the company failed to establish sampling points as had been requested by the agency and further to that, the boiler and furnace were switched off, making it technically impossible to do sampling, thus deliberately obstructing the course of justice.

Norton legislator Temba Mliswa mentioned on Twitter that Sunny Yi Feng was not the only company closed. He said that EMA had also closed Draishing and Norton Bricks.

He applauded EMA for shutting down companies that are not complying with environmental regulations.

He wrote:

No amount of money is worth the environment for the people. @EMAeep DG Chigona, thank you. It’s what we expect from you; to administer the EMA Act regardless of who it is. Protecting our environment is critical. This is a move that should cascade nationally not just in Norton.

Sunny Yi Feng operates three factories that manufacture tiles, printing cardboard boxes for packaging the tiles, and logistical support.

The company started producing tiles on May 12, 2019.

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    The post Chinese Company Sunny Yi Feng Tiles Closed For Not Complying With Environmental Regulations appeared first on iHarare News.

    Local Bank Makes Game-changing Upgrade Amid Pandemic

    NMB Launches Digital Bank

    NMB Launches Digital Bank NMB Connect For Greater Convenience And Complete Banking Experience

    Local bank NMB has launched its Digital Bank named NMB Connect, as it seeks to bring more convenience and services to its customers.

    The NMB Connect digital bank makes it possible for the customer to access a vast array of services from the comfort of their homes using several options. The digital bank can be accessed via USSD short code *241#, mobile application or the web.

    The NMB Connect mobile application is available for both Android and iOS and can be accessed in the Google Play Store and the App Store. For those who prefer to use the web, the services can be accessed on www.nmbconnect.co.zw

    Below are some of the services which you will now be able to do at your own convenience without having to step out of your house:

    • NMBConnect Online www.nmbconnectonline.zw
    •  Easy two-minute self-sign-up process
    •  The customer gets the ZWL and USD RTGS settlement reference number in less than 3 minutes
    •  ZIPIT functionality available
    •  Validation of beneficiary account number for internal transfers as the system fetches
      recipient’s name
    •  Airtime and Bill Payments processing in real-time
    •  Bank statement with a digital stamp
    •  Stamped digital receipts for all transactions
    • Own password reset
    • The NMBConnect App allows integration between NMB’s various products and has the following
      functionalities:
    • Self-onboarding
    • Instant opening of NMB Nostro account
    • Processing RTGS payments with the reference number received in less than 3 minutes
    •  Digitally stamped Proof of Payment that you can save to gallery or send on WhatsApp
    •  Self-registration on Ecocash, that is, linking a bank account with Ecocash wallet
    •  Self-registration for NMB Mobile Banking
    • View and download account statements
    •  Checking VISA Card balance as well as view and download VISA Card statement
    •  Topping up a TapCard from an NMB account or Ecocash wallet
    •  Check balance on a TapCard
    • View and download TapCard statement
    •  Block and unblock a Card
    •  Paperless cash withdrawals and deposits.

    NMBConnect Short Code (241#) Key Differentiators

    • Instant Conversion of Nostro to ZWL at the ruling auction rate
    • Internal Transfers [ZWL and Nostro].
    •  RTGS Transfers [ZWL and Nostro].
    •  ZIPIT Transfers.
    • Pay Merchants for goods and services using USD Nostro.
    •  Buy airtime for self or other.
    •  Link TapCard to NMBConnect.
    • Top up TapCard for yourself or other.
    • Link VISA Card to NMBConnect.
    • VISA Card balance enquiry and statement.
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    Zimbabwe Speaks On Payment Of US$75 Covid-19 Allowances For Civil Servants

    Mthuli Ncube Introduces Currency Stabilisation Task Force

    Zimbabwe Speaks On US$75 Covid-19 Allowances For Civil Servants

    Payment Of US$75 Covid-19 Allowances For Civil Servants

     

    Zimbabwe’s Ministry of Finance and Economic Development has released a statement speaking on the payment of the US$75 Covid-19 Allowances for civil servants. The government accused some banks and financial institutions of frustrating its efforts by being “unwilling or unable to speedily provide adequate facilities and transactional platforms to enable beneficiaries to access the full foreign currency value of these allowances”

    Below is the statement from the Ministry of Finance which iHarare is publishing in full.

     

    PAYMENT OF CIVIL SERVICE US$75.00 COVID-19 ALLOWANCES

    Pursuant to Government’s commitment to continuously review and improve the remuneration framework for Civil Servants, taking into account the transitory economic challenges being currently experienced in the country, which have been exacerbated by the Covid-19 pandemic, Government, on 17 June 2020, made a commitment to pay to serving Civil Servants, a flat non-taxable, Covid-19 Allowance of USD75.00 per month. Government Pensioners are also being paid a flat, non-taxable, Covid-19 Allowance of USD30.00 per month.

    These funds are being paid directly, in Foreign Currency, to the Nostro accounts that were opened by all regulated banking institutions for the purposes of receiving these funds.

    Treasury is pleased to announce that it is today making a further release of the necessary Foreign Currency to enable the payment of the US$75.00 Covid-19 Allowances to Civil Servants as well as the monthly commitments to Pensioners of US$30.00.

    However, Treasury notes with concern and disappointment that some regulated banking institutions, in connivance with some major retailers, have conspired to limit or prevent beneficiaries of this scheme, from accessing the full foreign currency value of their payments.

    We have also received reports that some banks, are telling customers that they have not received Nostro USDollars from Treasury, a situation which has resulted in reputational damage to the Government and unnecessary ill feeling amongst Civil Servants and the public at large.

    The Ministry of Finance and Economic Development, would therefore like to advise the general public, and in particular the beneficiaries of the USDollar based monthly Covid-19 allowances, who are Civil Servants, and Government pensioners, that Government is making payments to their accounts in actual Foreign Currency.

    We have however become aware that some Banks have been unwilling or unable to speedily provide adequate facilities and transactional platforms to enable beneficiaries to access the full foreign currency value of these allowances.

    This behaviour runs counter to the spirit and intentions of the President of the Republic of Zimbabwe’s, His Excellency, E.D Mnangagwa, when he made the offer to Civil Servants and Pensioners to pay these allowances in foreign currency, which are meant to provide an inflation hedge.

    We note and highlight below, some of the bad practices that have been reported to us, that both disbursing Banks and Retailers should immediately desist from and or address:-

    1. Some Banks have not communicated adequately, as agreed with the Reserve Bank of Zimbabwe, on the opening of new FCA accounts for Civil Servants and Pensioners. A significant number of beneficiaries remain unaware of the existence of these new bank accounts and their terms of operation.

    2. Some Banks have not made any serious and visible efforts to issue suitable cards and to deploy relevant and adequate supporting point of transaction equipment to enable beneficiaries to use the cards to make payments for goods and services using the foreign Currency denominated cards.

    3. Additionally, electronic platforms for transacting in the USD allowances are either absent or inadequate, or information about these is not available.

    4. As a result, some Banks are in effect forcing beneficiaries to liquidate their Foreign Currency allowances, and imposing several restrictions on the operations of the FCA Nostro FCAs that have the direct and undesirable effect of disenfranchising the beneficiaries.

    5. Government has taken due exception to these behaviours, and especially in regard of the fact that in addressing the wage challenges faced across the Civil Service, Government needs the assistance and co-operation of players in the banking system, who have a duty and obligation to ensure that their actions or omissions do not impose negative shocks in the market.

    6. It is therefore desirous that working closely with The Reserve Bank of Zimbabwe, Banks are strongly encouraged to urgently address the above concerns and immediately upgrade their domestic payments infrastructure as well as providing adequate internet and other banking platforms in light of the increased need for “transactability” of the foreign currency allowances.

    7. Additionally, Banks are encouraged to immediately make widely available to the public, and more directly to their individual customers, information relating to the operation of the Nostro Accounts that have been operationalised for receiving the Covid-19 Allowances. It is critical that the unhealthy information gaps and access issues that presently obtain are urgently addressed.

    8. Government wishes to reiterate its commitment to payment of living wages to its employees, and advises members of the Civil Service, that the Covid-19 Allowances have been put in place as an additional cushion, whilst negotiations for a comprehensive wage structure, which includes significant non-monetary benefits, are continuing.

    Payment Of US$75 Covid-19 Allowances For Civil Servants
    Payment Of US$75 Covid-19 Allowances For Civil Servants
    Payment Of US$75 Covid-19 Allowances For Civil Servants
    Payment Of US$75 Covid-19 Allowances For Civil Servants
    Payment Of US$75 Covid-19 Allowances For Civil Servants
    Payment Of US$75 Covid-19 Allowances For Civil Servants

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    The post Zimbabwe Speaks On Payment Of US$75 Covid-19 Allowances For Civil Servants appeared first on iHarare News.

    It Is Illegal To Sell Fuel In Forex Only: ZERA Warns Service Stations

    Fuel Forex- iHarare

    It Is Illegal To Sell Fuel In Forex Only: ZERA Warns Service Stations

    fuel queues- iHarare
    Motorists queue to buy petrol in Harare, Zimbabwe, October 8, 2018. REUTERS/Philimon Bulawayo

    The  Zimbabwe Energy Regulatory Authority (Zera) has warned service stations that are selling fuel in foreign currency (forex) only.

    In written responses to The Chronicle, Zera Chief Executive Officer Engineer Eddington Mazambani said it is illegal for service stations that buy fuel using the local currency to decline all forms of payment including mobile money platforms from motorists.

    Mazambani said only service stations that use their own offshore funds to source fuel may sell the product in the currency of their choice.

    Muzambani explained:

    It is illegal to refuse to accept all forms of payment (if fuel was purchased using local currency) and Zera is working with law enforcement agencies to ensure compliance in the sector. Only operators who would have used their own offshore funds to source fuel from the traders may sell the product in the currency of their choice.

    Without providing figures, Mazambani said the blending programme which has come under criticism of late, is viable and in line with global trends. He said:

    The blending programme is indeed viable. Fuel blending is a Government programme which is in synch with regional and global trends as countries are shifting towards cleaner, renewable and environmental friendly fuels.

    Speaking to the same publication, National Oil Company of Zimbabwe (NOIC) chairperson, Engineer Daniel Mackenzie Ncube said the Reserve Bank of Zimbabwe (RBZ) must give a directive compelling service stations to implement dual pricing.

    He stated that dual pricing using the inter-bank rate of the day should be considered for ordinary people without access to foreign currency.

    Ncube said:

    We must see a pricing policy which enables motorists to buy using swipe or any other form of payment using local currency at the prevailing interbank exchange rate. We not saying service stations should run at a loss, no, we want dual pricing because we all don’t have access to foreign currency.

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    The post It Is Illegal To Sell Fuel In Forex Only: ZERA Warns Service Stations appeared first on iHarare News.

    Zimra Speaks On Mandatory Covid-19 Testing Requirement

    Zimra covid- iHarare

    Zimra Denies Covid-19  Mandatory Testing Requirements Reports

    Zimra covid- iHarare
    Zimbabwe Revenue Authoriity (ZIMRA) Offices.Image credit: Techzim

    The Zimbabwe Revenue Authority (Zimra) has spoken on reports that it now requires proof of Covid-19 testing from its stakeholders and that all clearing agents are supposed to go under mandatory testing for them to access services.

    Zimra denied that it requires a certificate or proof of recent negative Covid-19 tests from its stakeholders visiting any of its offices or premises.

    The revenue collector also advised stakeholders to utilise online services to minimise face-to-face interaction between officials and customers.

    Zimra said it only encourages its stakeholders to remain vigilant and minimise the possible transmission of Covid-19.

    The statement by Zimra reads:

    The Zimbabwe Revenue Authority wishes to correct misleading information that was contained in an internally generated notice that was issued to clearing agents on the 6th of August, 2020. The statement under the heading Notice to all clearing agents, transporters-meausures to contain the rise in cases of Covid-19 infections at border posts, gives the incorrect impression that all persons, clients and stakeholders visiting Zimra premises are required to produce proof of having been recently tested for Covid-19. This is not the correct position, Zimra does not require a certificate or proof of recent negative Covid-19 tests from its stakeholders visiting any of its offices or premises.

    The correct position is that Zimra is aware that due to the positioning of our offices, inland and border stations, there is a need to remain vigilant in observing and practising procedures that reduce the high risk of exposure to Covid-19. In the interest of safeguarding employees, clients and the public as directed by the guidelines from the World Health Organisation, the Ministry of Health and Child Care, Zimra is implementing measures to mitigate the likely impact and risks of this viral threat to operations and human life.

    The current measures at our border posts and stations in instances of expected or suspected exposure to Covid-19 include but are not limited to, testing contacts of all suspected Covid-19 cases. Immediate closure and subsequent disinfection of offices, inland and border stations that might be at risk. Re-opening of disinfected offices is done with the assistance and guidance of the relevant local medical authorities. Where practical Zimra stations and offices maintain critical skeleton staff. Staff are being provided with appropriate Personal Protective Equipment (PPE) and sanitisers and services are, as much as possible, being offered to clients/agents via electronic means.

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    The post Zimra Speaks On Mandatory Covid-19 Testing Requirement appeared first on iHarare News.

    Zimra Speaks On Mandatory Covid-19 Testing Requirement

    Zimra covid- iHarare

    Zimra Denies Covid-19  Mandatory Testing Requirements Reports

    Zimra covid- iHarare
    Zimbabwe Revenue Authoriity (ZIMRA) Offices.Image credit: Techzim

    The Zimbabwe Revenue Authority (Zimra) has spoken on reports that it now requires proof of Covid-19 testing from its stakeholders and that all clearing agents are supposed to go under mandatory testing for them to access services.

    Zimra denied that it requires a certificate or proof of recent negative Covid-19 tests from its stakeholders visiting any of its offices or premises.

    The revenue collector also advised stakeholders to utilise online services to minimise face-to-face interaction between officials and customers.

    Zimra said it only encourages its stakeholders to remain vigilant and minimise the possible transmission of Covid-19.

    The statement by Zimra reads:

    The Zimbabwe Revenue Authority wishes to correct misleading information that was contained in an internally generated notice that was issued to clearing agents on the 6th of August, 2020. The statement under the heading Notice to all clearing agents, transporters-meausures to contain the rise in cases of Covid-19 infections at border posts, gives the incorrect impression that all persons, clients and stakeholders visiting Zimra premises are required to produce proof of having been recently tested for Covid-19. This is not the correct position, Zimra does not require a certificate or proof of recent negative Covid-19 tests from its stakeholders visiting any of its offices or premises.

    The correct position is that Zimra is aware that due to the positioning of our offices, inland and border stations, there is a need to remain vigilant in observing and practising procedures that reduce the high risk of exposure to Covid-19. In the interest of safeguarding employees, clients and the public as directed by the guidelines from the World Health Organisation, the Ministry of Health and Child Care, Zimra is implementing measures to mitigate the likely impact and risks of this viral threat to operations and human life.

    The current measures at our border posts and stations in instances of expected or suspected exposure to Covid-19 include but are not limited to, testing contacts of all suspected Covid-19 cases. Immediate closure and subsequent disinfection of offices, inland and border stations that might be at risk. Re-opening of disinfected offices is done with the assistance and guidance of the relevant local medical authorities. Where practical Zimra stations and offices maintain critical skeleton staff. Staff are being provided with appropriate Personal Protective Equipment (PPE) and sanitisers and services are, as much as possible, being offered to clients/agents via electronic means.

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    The post Zimra Speaks On Mandatory Covid-19 Testing Requirement appeared first on iHarare News.

    EcoCash Increases Tariffs…Here Are The New EcoCash Tariffs Effective 1 August 2020

    Whatsapp Nudes Leak

    New EcoCash Tariffs Effective 1 August 2020

    New EcoCash Tariffs Effective 1 August 2020

     

    The country’s biggest mobile money company, EcoCash, has raised its tariffs. The mobile money raised the charges for sending money and cashing out with effect from 01 August 2020. Interestingly, EcoCash has now removed the charges for “Sending Money To Unregistered” and for “Cash Out”. Apart from the charges for Sending Money to a Registered Customer, the other charges are for “Bill Payment” and “Pay Merchant”.

    The new EcoCash charges and tariffs are as below.

    Bands Use Cases
    Lower Upper Bill Payment Send Money Pay Merchant
    1.00 9.99 1.03 0.68 0.89
    10.00 19.99 1.44 1.42 1.45
    20.00 29.99 1.76 2.10 2.06
    30.00 39.99 2.34 2.50 3.02
    40.00 49.99 2.93 3.42 3.64
    50.00 74.99 4.07 4.62 4.95
    75.00 99.99 5.36 5.12 6.54
    100.00 149.99 6.75 6.96 6.61
    150.00 199.99 6.97 8.99 7.49
    200.00 299.99 7.93 10.99 8.46
    300.00 499.99 12.50 14.59 8.86
    500.00 999.99 25.00 27.54 27.03
    1000.00 1499.99 37.50 41.85 39.53
    1500.00 1999.99 50.00 56.52 54.40
    2000.00 2499.99 62.50 70.65 67.15
    2500.00 2999.99 75.00 84.78 79.56
    3000.00 5000.00 1.85% 1.90% 1.85%

     

    OTHER LIMITS

     

    Lower Upper Value Fee/Charge
    Send Money to Registered Customer 1 5000
    Send Money to Non Registered Customer 1 500
    Airtime Top Up 2 500
    Airtime 2 500 FREE
    Balance Enquiry N/A N/A 1.5
    Account History N/A N/A 1.5
    Change PIN N/A N/A FREE
    Bank to Wallet 1 1000 FREE
    Bank Balance Enquiry N/A N/A 1.5
    Bank Statement N/A N/A 1.5

     

    New EcoCash Tariffs Effective 1 August 2020
    New EcoCash Tariffs Effective 1 August 2020

     

    The mobile money company has been under fire in the last few months following multiple legal battles against the government. The Reserve Bank of Zimbabwe (RBZ) sensationally accused the mobile money company of being an elaborate Ponzi Scheme which was responsible for the collapse of the Zimbabwe dollar through its illegal activities on the black market.

    A few weeks later Permanent Secretary in the Ministry of Information, Publicity and Broadcasting Services, Nick Mangwana announced that the government was banning EcoCash and all mobile money services. However, the government later backtracked on the hardline position and instead suspended all agent and bulk payer lines. The government also suspended all Merchant to Merchant and Merchant to Individual transactions.

    In another major blow for the mobile money company, the RBZ designated ZimSwitch as the National Payment Switch. Meaning that all mobile money transactions will now go through ZimSwitch starting from August 15, 2020.

     


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    Here Are The New Fuel Prices In Zimbabwe Effective 05 August 2020

    New Fuel Prices In Zimbabwe Effective 05 August 2020

    New Fuel Prices In Zimbabwe Effective 05 August 2020

     

     

    The Zimbabwe Energy Regulatory Authority (ZERA) has approved an increase in fuel prices following almost a month with no adjustment in the price of fuel. The new fuel prices are effective Wednesday, 05 August 2020.

    Diesel has now gone up to ZWL $83.36 per litre, an increase of ZWL $11.74 from the previous price of ZWL $71.62 per litre. Blended Petrol has gone up to ZWL$93.15 per litre. This is an increase of ZWL $30.38 from the previous price of ZWL$62.77 per litre.

    However, for those buying in foreign currency, the United States Dollar prices have not changed and remain unchanged at US$1.09 per litre of diesel and US$1.28 per litre of blended petrol.

    Below is the full statement from ZERA which iHarare is publishing in its entirety.

    New Fuel Prices In Zimbabwe Effective 05 August 2020
    New Fuel Prices In Zimbabwe Effective 05 August 2020

     

    The price of fuel has now become more stable since the Reserve Bank of Zimbabwe (RBZ) introduced the weekly foreign currency action system in June. Although the price is subject to change, it is no longer changing on a weekly basis.

    The increase in the price of fuel comes at a time when fuel queues have been resurfacing across the country due to shortages.

    Speaking on the recent fuel prices, Deputy Minister of Energy, Magna Mudyiwa blamed the lack of foreign currency for the fuel shortages. Speaking to state media, Mudyiwa said,

    The fuel shortages are not unique to Bulawayo only but are a nationwide phenomenon. This is due to forex shortages we are experiencing. The national cake is too small; a lot of sectors need forex, and while fuel is one if the prioritised sectors, of late Government has been diverting the larger chunk of resources towards the Covid-19 fight.

    So resultantly, some sectors may suffer. To access fuel at Msasa, Government must have paid for that bonded fuel. So, the public must expect such challenges as the cake is so small and must be distributed among different sectors to keep the economy functional.

     

     


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    The post Here Are The New Fuel Prices In Zimbabwe Effective 05 August 2020 appeared first on iHarare News.

    Strive Masiyiwa Forced To Sell Massive Shares From Company After Failing To Repay Loan Debt For Defunct Kwese TV Venture

    Strive Masiyiwa Forced To Sell Massive Shares From Company

    Strive Masiyiwa Forced To Sell Shares From Company To Repay Dept After A Failed Kwese TV Venture.

    Strive Masiyiwa Forced To Sell Massive Shares From Company

    Zimbabwean business tycoon is failing to get interested buyers to take up 20% to 34% of his Liquid Telecommunications Holdings Ltd. shares for as much as $600 million in a bid to repay massive debt accumulated from a failed pay-Tv venture.

    According to a Bloomberg report, company moles have disclosed that the billionaire is struggling to repay a $375-million loan that was backed by Public Investment Corp., the continent’s largest money manager based in South Africa.

    It is understood that Strive Masiyiwa had initially offered PIC shares in Liquid Telecom as security for the loan, which had been acquired with Deutsche Bank AG.

    Masiyiwa was planning to repay the debt from the proceeds of an initial public offering in Liquid Telecom, which was scrapped because of volatile equity markets.

    However, due to coronavirus pandemic, business hasn’t been going well for the Zimbabwean billionaire who is failing to get potential investors to repay the debts.

     

    READ| Econet Announces Official End Of Kwese TV – Blames Forex Issues

     

    Buyers wanted more time to assess the economic fallout of lockdowns to contain the virus on Africa’s economies, the reports say.

    After recent developments in which PIC is demanding the issue be resolved by the end of August this year, the business tycoon would rather sell part of his 66% stake in Liquid Telecom than to surrender shares in the company at a discount to the PIC, one of the people who spoke to Bloomberg say.

    Kwese closed shop last year and left the business mogul in massive debts after the Telecom giant confirmed the prevailing economic hardships were working against its efforts to make its satellite cum Pay TV service, free-to-air TV — Kwese Free Sports — and its video on demand (VoD) service, Kwese iflix fully function.


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    The post Strive Masiyiwa Forced To Sell Massive Shares From Company After Failing To Repay Loan Debt For Defunct Kwese TV Venture appeared first on iHarare News.

    Govt Orders Businesses To Display Both Zimbabwe Dollar And Forex Prices At Official Exchange Rate

    Govt Orders Businesses To Display Both Zimbabwe Dollar And Foreign Currency Prices- iHarare

    Govt Orders Businesses To Display Dual Prices At Official Exchange Rate

     Dual Prices Exchange Rate

    Businesses are now required to display prices in both local and foreign currency.

    This comes after President Emmerson Mnangagwa’s latest amendment of the Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) Regulations, 2019, published in Statutory Instrument 212 of 2019.

    Statutory Instrument 185 of 2020 compels providers of goods and services to display dual prices in Zimbabwe dollar and foreign currency using the official exchange rate.

    The amendment reads:

    It is hereby notified that HIS Excellency the President has in terms of section 2 of the Exchange Control Act [Chapter 22:05],made the following regulations:

    1. These regulations may be cited as The Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) (Ammmendment Regulations, 2020 No. 3
    2. The Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) Regulations, 2019, published in Statutory Instrument 212 of 2019 are amended by the insertion of the following section after section 6—

    Dual pricing and displaying, quoting and offering of prices for goods and services

    7. (1) Any person who provides goods or services in Zimbabwe shall display, quote or offer the price for such goods or services in both Zimbabwe dollar and foreign currency at the ruling exchange rate.

    (2) Any person who contravenes subsection (1) shall be liable to—

    (a) a category 1 civil penalty if the contravention is :ompleted but irremediable; or

    (b) a category 4 civil penalty if the contravention is a continuing one

    SI 185 of 2020 comes at a time when businesses are quoting prices in local currency at a rate that is higher than the official foreign currency auction system exchange rate.

    The official exchange rate currently stands at ZWL$ 72/USD but most retailers are quoting prices in ZWL at an inflated rate of between ZWL$ 90-110 against the USD.

    SI 185 of 2020 is expected to bring uniformity in the quoting of prices in different currencies on the market at a time businesses have been quoting prices to compel consumers from purchasing using the local currency.

    It however remains to be seen whether businesses will reduce prices in ZWL to align with the USD or increase prices in USD to align with ZWL using the official exchange rate.

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