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Govt Says Forex Only School Fees Illegal

9 months agoMon, 15 May 2023 04:31:35 GMT
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Govt Says Forex Only School Fees Illegal

The Government has warned schools, both public and private, against demanding fees exclusively in United States dollars saying the Zimbabwe dollar remains legal tender.

In a press statement released on 12 May 2023, the Ministry of Primary and Secondary Education said parents and guardians should be allowed to pay fees in local currency calculated against the prevailing bank rate. The Ministry said:

The Ministry of Primary and Secondary Education has noted with concern the demand for school fees and levies in USD by school authorities.

For this reason, all public and private schools must accept all forms of currency payment obtaining in the country for school fees and levies.

Therefore, the demand to receive payment exclusively in USD is not permissible and is contrary to the laws of the land.

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For the record, the Zimbabwe dollar is still the legal tender in the country.

Parents/guardians should therefore be allowed to pay fees and levies in Zimbabwean dollars.

Parents/guardians opting to pay school fees in USD or in Rand should be allowed to do so calculated against the prevailing bank rate on the authorized fee and levy structure.

As a matter of fact, no school; public or private should charge fees without the approval of the Ministry of Primary and Secondary Education.

The Ministry of Primary and Secondary Education remains committed to the education of all pupils at institutions that provide primary and secondary education as we strive to provide quality and relevant education to all Zimbabweans.

The Zimbabwe dollar is increasingly becoming unattractive for businesses and services providers as continues to fall rapidly against other countries in use in the country such as USD, Rand and Pula.

As a result, both formal and informal sectors are demanding payments in foreign currency and where the Zimbabwe dollar is accepted, in most cases the black market rate is used which is more than double the official rate.

More: Pindula News

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