"All Companies Must Insist On Using Zimbabwe Dollar For All Local Transactions," - ED

President Emmerson Mnangagwa has said that all companies must comply with Statutory Instrument 142 of 2019 which simultaneously outlawed the use of all foreign currencies for domestic transactions and reintroduced the Zimbabwe dollar.

Speaking to local and international business executives at the 2019 ZimTrade Annual Exporters’ Conference in Bulawayo, the President said:

In line with our country’s laws, all companies must insist on the use of our local currency for all local transactions.

Going forward, the Government will continue to strengthen monitoring and compliance mechanisms.

His remarks come amidst reports that some businesses are continuing to price their commodities in the forbidden foreign currencies, particularly the United States Dollar.

Business owners argue that it is risky to price their commodities in the local currency which is regularly losing value against other currencies.

More: Nehanda Radio