Zim ministry says it is illegal for firms to charge US dollars for products
This comes after drinks manufacturer Delta Corporation said that from Friday it would only accept hard currency for its beer and soft drinks.
HARARE – Zimbabwe’s Industry Minister says that it is illegal for local companies to charge US dollars for their products after the country’s main drinks manufacturer said its beer and soft drinks will from Friday only be sold for foreign currency.
Zimbabwe’s economy is US-dollar based but the scarcity of hard currency means that most people use mobile money or debit cards to make their purchases.
Economists say Zimbabwe’s economy is slowly and unofficially re-dollarising, despite the introduction three years ago of local bond notes that were given one to one status with the US dollar.
The one to one parity no longer exists and some shops and businesses offer significant discounts for real US dollars.
On Wednesday, drinks manufacturer Delta Corporation said that from Friday it would only accept hard currency for its beer and soft drinks.
Industry Minister Nqobizitha Ndlovu says Delta’s decision is illegal, and against the spirit of fairness.
The minister has told state media that the law will take its course if the practice doesn’t stop.
Robert Mugabe is laughing wherever he is looking at the economical events happening in Zimbabwe— Shakespeares' Son (@RealBeefactor) January 3, 2019
When you targeted criminals around the former president did it mean our economy was going to get better?
Are still Criminals?
The direction the Zimbabwe Economy is taking is being benchmarked by— mathews dera (@matdera) January 3, 2019
1. @DeltaCorpZim decision after being summoned
2. The @RMajongwe teachers decision after meeting GOZ
3.doctors stance after junta intervention
We have to find a way to fix Zimbabwe collectively. The blame game has to stop. When the elephants fight the grass suffers. Things are terribly bad and we can't continue like this. Machunks haisi Nyama. Bond and USD is not 1:1. @MthuliNcube fix the economy please #Zimbabwe— Linda T. Masarira (@lilomatic) January 3, 2019