Chronicle Editor
Oliver Kazunga, Senior Business Reporter
GOVERNMENT has gazetted a law requiring all businesses operating in the country to display or quote the prices of goods and services in Zimbabwe dollar and foreign currency at the ruling exchange rate.
Last week, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya said there were some businesses that had not taken heed of the directive to display or quote their prices in Zimbabwe dollar and foreign currency at the prevailing exchange rate.
In a Government gazette released last Friday, the Government said:
“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.
“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.”
Therefore, any person who contravenes the amendments shall be liable to: category 1 civil penalty if the contravention is completed but irremediable; or category 4 civil penalty if the contravention is a continuing one. — @okazunga
Online Reporter