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THE Consumer Council of Zimbabwe (CCZ) has applauded moves by the Reserve Bank of Zimbabwe to introduce a new regime of ‘‘special coins’’ to give consumers value for their money.
CCZ Manicaland regional officer Mr Barnabas Masamvu said the special coins would help consumers who were presently being short-changed by rounded up prices.
RBZ Governor Dr John Mangudya, in his recently announced Mid-term monetary policy review, said in order to improve the problem of change and its unintended consequences on the price levels in the economy, the central bank would in December import special coins.
The special coins of 1c, 5c, 10c, 20c, and 50c will be at par with the US cents. Rand coins of 10c, 20c, 50c, R1, R2 and R5 are also being imported to buttress the multiple currency system which is dominated by US dollars and rands.
Dr Mangudya said the coins will be distributed to business through normal banking channels from the Reserve Bank.
Mr Masamvu said the move was timely to control the price regime and protect the consumers who were being short-changed by the absence of coins.
“In the absence of coins prices used to be rounded up whilst consumers were being forced to take sweets or vouchers for change.
“With the special coins in place, people will get value for money and we will call for a review of prices, which were mostly pegged to ease the coins deficiency,” said Mr Masamvu.
The CCZ is the consumer rights watchdog which monitors the pricing regime in the country.
Mr Masamvu said they would soon start their awareness campaigns of the consumer protection bureau.
“Our mandate is to monitor prices in Zimbabwe and lobby for policies that are pro-consumers.
“Consumers should make use of CCZ where they feel they are being short changed. As consumers you have rights,” said Mr Masamvu.
Online Reporter