THE Grain Millers Association of Zimbabwe (GMAZ) yesterday
threatened to stop supplying their products to wholesalers and shops refusing
bond notes and coins, which are still legal tender.
Members of the association produce and pack maize-meal,
self-raising flour, salt, rice, sugar beans and soya chunks which are critical
for sustaining food security at household level.
The association’s chairman Mr Tafadzwa Musarara said in a
statement that those involved were causing unnecessary inconveniences to
consumers.
“We urge all entities distributing our products to accept
all local bank notes and use them to buy from us or bank them and pay for our
products by bank transfer. Our products can be bought using either cash or
mobile money or bank transfers. We demand that the same payment arrangement be
extended to consumers,” said Mr Musarara.
He warned that the association will be partnering with the
Consumer Council of Zimbabwe to stop the practice.
The refusal of bond notes started in the informal market
where the majority of players do not bank their cash, which has resulted in the
old bond notes getting soiled, hence their growing rejection, along with fake
news on social media platforms that they would be demonetised.
Government recently said bond coins and bond notes are
still legal tender. Information, Publicity and Broadcasting Services Minister
Monica Mutsvangwa said traders were legally obliged to accept them.
“Government notes with concern that there are some sections
of the market that are rejecting bond notes and coins. Notes inscribed ‘bond
notes’ are being rejected in preference for those inscribed ‘dollars.’
Government, through the Ministry of Finance and Economic Development, will be
substituting bond notes with new notes through a gradual process,” said
Minister Mutsvangwa.
She added: “As announced by Reserve Bank of Zimbabwe
Governor, Dr John Mangudya, all business owners, shopkeepers, tuckshop owners
and even individuals are free to exchange the bond notes with new notes through
their banks.”
Under normal circumstances, when cash is deposited in banks
fairly frequently, banks remove worn and soiled notes and send them to the
Reserve Bank for destruction. When notes or coins are demonetised, notice has
to be given in the Government Gazette and a reasonable time is always given for
holders to bank these while they are still valid, or even in a set time after
demonetisation. Herald
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