Government takes tough stance on business over ZiG

By Staff writer

GOVERNMENT says it will strengthen mandatory licencing requirements for all operating businesses to have Point of Sale (POS) machines.

This is part of measures meant to promote the use of the ZiG currency on the local market.

Since it’s introduction into the market, the ZiG currency has faced resistance from the business community mostly smaller business operators.

However, cabinet on Tuesday approved the proposal to have stricter licencing requirements under the Shop and Shop Licensing Act.

Through the Reserve Bank of Zimbabwe (RBZ), the government will strengthen the mandatory licencing of all business operators.

This will include all business operators being compelled to have bank accounts and POS machines.

Additionally, inspectors will be deployed to inspect, monitor and sniff out malpractices in the market.

Addressing the media during a post cabinet briefing, Information minister Jenfan Muswere said the de-dollarisation road map was now in place.

“In order to promote the uptake of plastic money,” Muswere said.

“The Reserve Bank of Zimbabwe will strengthen the mandatory licensing requirements for all business operators,

To have a bank account and Point Of Sale (POS) machine under the Shop and Shop Licensing Act, and deploy inspectors,”

To curb misdemeanors that militate against price stability and availability of basic commodities.”