Retailers and Wholesalers accused of selling cash

7 years agoFri, 25 Nov 2016 14:11:59 GMT
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Retailers and Wholesalers accused of selling cash

Wholesalers and retailers have been accused of taking advantage of the current cash shortages by selling cash to desperate people.  Some fuel stations are alleged to have joined in this opportunistic business by declining electronic money in order to get more cash for resale.

Speaking at an Institute id Chartered Accountants of  Zimbabwe, George Guvamatanga, the managing director of Barclays Bank of Zimbabwe said:

Retailers are hording cash and selling it. There are cash discounts happening depending on whether an RTGS and cash back system (has been used).

More: Financial Gazette


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