Miners not affected by the New SI Instrument
IT is business as usual for miners as their payment system is not affected by the recently introduced SI213 of 2019.
This past Saturday government introduces a law that pricing of goods and services in foreign currency is now illegal and heavy penalties will be imposed to defaulters. This comes after Statutory Instrument, SI212 of 2019 which banned the use of foreign currency in any local transactions was gazetted.
This move is to curb the use of pegging local prices with the US$ as it is seen to be fueling price hikes.
According to the SI 213 of 2019, it is now illegal to sell goods or services in USD or any other currency except ZWL, it is also illegal to quote prices in foreign currency, to display for sale in foreign currency, to receipt in foreign currency and to value or denominate in anything other than ZWL.
SI 213 of 2019 Document in Full
