Tue, 11 Aug 2020

Bigger retailers such as OK Zimbabwe and Pick n Pay, however, are still accepting the local units of exchange.

Denford Mutashu, president of the Confederation of Zimbabwe Industries told Fin24 that retailers have to accept the Zim dollar and bond notes to smoothen transactions and payment for goods and services.

Employees under the Zimbabwe Congress of Trade Unions and the civil servants representative union, Apex Council, have been calling for remuneration in foreign currency.

The Apex Council said after a meeting of its top leadership on Wednesday that "the local currency has been rejected by the economy" hence it was calling on the government to reset salaries for government workers at US$475 for the lowest paid.

This comes as The Famine Early Warning Systems Network (FEWSNET) noted in a new report today that "most goods and services in Zimbabwe are increasingly being priced in USD" which is "further constraining access to market foods as many poor households do not have access" to US dollars.

"Anecdotal information indicates bond notes and coins are increasingly being rejected across some markets," says the FEWSNET report.

It adds: "Economic volatility and depreciating parallel market exchange rates are progressively constraining livelihoods and disposable incomes."

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