Supermarkets Display Prices Solely In United States Dollars
Some major retailers in the country are now displaying prices solely in United States dollars which is against the law.
In terms of Statutory Instrument 185 of 2020, it is an offence not to display prices in both the Zimbabwe dollar and the US dollar.
The Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) (Amendment) Regulations, 2020 (No.3), which was gazetted by President Emmerson Mnangagwa in 2020, amended the original subsidiary legislation that compelled the sole use of local currency.
The S.I. stipulates that no one can provide goods or services in Zimbabwe without displaying, quoting, or offering the price of such goods and services in both the Zimbabwe dollar and foreign currency at the prevailing exchange rate.
However, a senior manager at OK Zimbabwe told the Chronicle that they decided to display prices solely in USD due to the unstable exchange rates that change almost on a daily basis. The manager was quoted as saying:
HOT DEALS:
itel A70 - (128GB, 3GB RAM) $89,
itel A70 - (256GB, 4GB RAM) $99
itel P40 (128GB, 4GB), (6000mAh) $99
itel P40 (64GB, 4G), (6000mAh) $93
LATEST:
itel S24 (128GB) $124 (108MP camera)
itel S24 (256GB) $159 (108MP camera)
Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika.
WhatsApp: 0783 450 793
Our local currency rate fluctuates on a daily basis and that means we have to be changing our local currency price tag daily as well.
Basically, that is the reason why we have since decided to exclusively denote our prices in USD terms, but our clients can still have the option to pay in local currency.
Consumer Council of Zimbabwe (CCZ) Matabeleland regional manager Comfort Muchekeza said:
It is against the law to refuse other currencies or not to display the exchange rate.
If they don’t want to display the exchange rate, they should display prices in all currencies for the benefit of consumers.
Last week, the Government gazetted Statutory Instrument (S.I) 218 of 2023, which extended the use of the multi-currency system to December 2030.
More: Pindula News
