CZI Wants Govt To Allow Manufacturers To Buy Foreign Currency On Black Market

Confederation of Zimbabwe Industries (CZI) president Mr Sifelani Jabangwe said the criminalisation of parallel market trade in foreign currency has left a lot of companies that are not on the Reserve Bank of Zimbabwe (RBZ) priority list in a dilemma when it came to procuring imported inputs.

He said this during a breakfast meeting organised by the Confederation of Retailers Zimbabwe in Harare on Thursday last week. Said Jabangwe:

The three things that we are concerned about are business viability, product availability and pricing stability. At the moment, because we have mainly focused on pricing, it’s now starting to affect business viability and product availability. We need at the very least a transfer mechanism between RTGS and US dollars. The Monetary Policy Review (statement) done last year separated those two, US dollars and RTGS. At the same time, we don’t want the criminalisation of forex trading.

More: Herald

Reserve Bank of Zimbabwe

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

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