Bond notes Zimbabwe dollar

ZRP threatens to take action against businesses rejecting bond notes

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Like we stated last time, it takes much more than a press statement to convince informal sector businesses to accept bond notes a.k.a Zimbabwe dollar notes.

Where moral suasion failed, force and threats can now be used to make them accept bond notes.

The Zimbabwe Republic Police has issued a stern warning promising to take action against businesses that are rejecting bond notes.

“The Zimbabwe Republic Police has noted with concern that some business people, especially informal traders, are refusing to accept local currency coins, $2 and $5 notes, which is legal tender.

The police will not hesitate to enforce the law on anyone found to be disregarding the country’s laws, especially during this lockdown period.

The public is again urged to report such errant people for swift action to be taken.”

ZRP statement

Informal businesses have been rejecting bond notes since the Reserve Bank of Zimbabwe introduced $10 and $20 notes to address cash shortages.

RBZ was forced to issue a statement last week to declare that bond notes are still legal tender. But evidently that did not work as reports of more informal traders rejecting bond notes are circulating.

And yesterday as well, the RBZ Governor John Mangudya reiterated that bond notes should still be accepted:

“We are encouraging the public that the bond notes are still legal tender.

We are also urging the public to bank the old notes that they may have so that they get full value for the money and to withdraw the bank notes that they need.

Retailers are also accepting the bond notes that are being rejected because they are still a part of the country’s legal tender, so they can also be utilised in the shops.”

RBZ Governor

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