Zimbabwe Business Watch : Week 7

Before businesses are able to muster foreign currency receipts through the new liberalisation/dollaristion policies recently announced, quasi government and State Institutions, including revenue collection, pounced immediately.

Forex based duties at the border came into effect within hours, stranding a huge mass of goods, the owners of which were unable to find the Rand to pay Customs. Some vehicles were returned to South African manufactures and suppliers as a consequence.

Generally, the charges being imposed, far exceed corresponding fees in neigbouring countries and this is having a debilitating effect on business at a time when many are teetering on the brink of collapse.

Reserve Bank officials have been harassing companies demanding to know how they have accumulated the Zim Dollar funds they hold in their bank accounts. This is largely seen as the remaining efforts of a ZANU PF led administration to remind the population that they are in control with the inauguration of the MDC’s Prime Minister designate around the corner.

This entry was posted by Sokwanele2 on Monday, February 9th, 2009 at 11:08 am. You can follow any comments on this entry through the RSS 2.0 feed. Both comments and pings are currently closed.