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Zimbabwean President Mnangagwa Warns Businesses Against Pricing In Foreign Currency

South-Africa

Zimbabwean President Mnangagwa Warns Businesses Against Pricing In Foreign Currency

Zimbabwean President Emmerson Mnangagwa has said his government is crafting a law that compels business people who receive foreign currency allocation from Treasury to charge their products in local currency. 

Further, the government will revoke licenses of such business people with immediate effect if they fail to comply, the Herald newspaper reported Tuesday. 

Addressing traditional chiefs during the official opening of the 2018 Annual Chiefs Conference in Kadoma on Monday, Mnangagwa said it was important for government to engage the business more often.

 “We are now crafting a law that ensures that all products purchased from outside the country using foreign currency from Treasury should not be charged in foreign currency,” he said.

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