Zimbabwe Government Allows Some Shops to Accept Foreign Currency | Voice of America - English
In Zimbabwe, many residents of the capital, Harare, say they're concerned about the Reserve Bank of Zimbabwe's decision to allow selected shops and retail outlets to charge for items in foreign currency. But business operators say they're delighted at the development, regardless of what consumers are going through. Voice of America English to Africa reporter Safari Njema in Harare, Zimbabwe, says that following the granting of foreign currency licenses to selected supermarkets and retail outlets in the capital, shelves in those stores are laden with scarce commodities.
Someconsumers are able to buy the items with forex, or foreign exchange, they'veobtained from trading on the parallel market or from friends and relativesabroad. But mostaren't so lucky. They shake their heads in disbelief and exit the shops emptyhanded. A 50-year-old man from Warren Park, who introducedhimself only as Christopher, says the government has obviously lost touch withthe daily realities facing citizens. Waving his hands in anger, the father oftwo says the outlook for the average Zimbabwean is bleak, "People are earning theirsalaries in local currency. Which group are they trying to [serve]? We arereally surprised. For a [ruling party] which used to say 'We are the people'sparty?," now they are dividing people." His view isechoed by 60-year-old Victor Chinogurei, who lives in Sunningdale. A self-employed builder, Chinogurei says people are battling to getmoney for rent which is now charged in foreign currency. He explains that people who pay their rent in foreign currency should not have to raise even more forex to buy the basics. He also accusesthe government of adopting what he calls 'double standards.' "The most surprising thing is that our government is always against theAmericans and the British, but those are the currencies that we are using inthe shops, so I don't know the rationale," he says. StokisiChakanetsa works at one of the big department stores located close to the citycenter. He says consumers need to understand shop owners need to charge pricesthat keep them in business, "It's notlike we want to use this currency but you must understand where we import weare buying in forex and this is why we have pegged our products in forex. Weknow it's a burden to the ordinary man but we have no choice." Stokisi says as stores are increasingly allowed to sell products in foreigncurrency, prices will drop because they will be competing for clients. He addsthey gross about five thousand US dollars daily. This situation, he says,benefits the nation because a percentage of the money is paid to government intaxes. Stokisiargues it's better for goods to be available rather than having retailersholding back stock.