Retail shop in court for not banking cash

DCK Supermarket’s Gweru branch general manager, Elimon Kwande appeared before regional magistrate, Morgan Nemadire charged with failing to bank their daily cash receipts a required by the Reserve Bank of Zimbabwe’s (RBZ) Bank Use Promotion Act. Magistratee Nemadire reserved judgment in the matter to today.

The court heard that on June 22 last year, DCK received a disclosure order from RBZ representative, Simbarashe Taruvinga. The retail shop was supposed to submit returns on cash sales and deposits on a daily basis as required by the RBZ Act. One of the shop’s managers, Aldin Mutariri acknowledged receipt of the disclosure order by signing at the back of it. Despite receiving the disclosure order the shop failed to submit returns to RBZ between June 22 2016 to July 6 2017.

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