By Dumisani Ndlovu | The Zimbabwean |
Zvishavane-Retail outlets and informal business sector in several districts of Midlands Province reportedly rejecting the South African rand arguing they were incurring losses due to the currency’s uncertainty.
Extensive research by this reporter discovered that informal traders and vendors alike were advised that the rand would not be accepted when they either order news stock or paid their bus fares, with holders of the currency left stranded.
“Where do you come from, here in Zvishavane we no longer accept the Rands,” said one worker at Pote wholesale in Zvishavane. Several customers interviewed by our news crew expressed displeasure describing the practise as unfair.
“This is very unfair, honestly how shops and individuals can decides to over-night outlaw an acceptable legal tender. Only to woke up and unilaterally reject Rands.
“We beseech police and other consumer council of Zimbawe to help arrest those disadvantaging the clients so that they obey to the laws and desist from the ill-practice.”
The rand was recently slipped against the United States dollar, a situation that has seen many businesses reluctant to accept the currency, because of its value on the international market.
Rural areas where not left as all shops at Sunrise, Somabhula in Vungu and Zhaugwe, Dorset, Asvoldraii in Shurugwi Rands are no longer accepted as one US dollar is trading at about $1 to almost R14.
A Retail shop owner Getrude Thebe said was left with no option except to reject the Rand because of its instability and trading confusion found in maintaining the best exchange rate.
“We now accept the US dollar and bond coins and not the South African rand because it has negatively impacted on our business trade,” he said.
In 2009, Zimbabwe introduced a multi-currency regime with the United States dollar, South African rand, British pound and the Botswana pula as legal tender.
Recently, monetary authorities also introduced the Euro, Chinese yuan, the Indian rupee, Australian dollar and the Japanese yen as legal tender.
