Mangudya criticises local retailers demanding cash payments for cooking oil

Reserve Bank of Zimbabwe Governor Dr John Mangudya has criticised demands for cash payments by certain retailers saying that it is a means to externalise foreign exchange.

Mangudya said that there was no justification for retailers, service stations and other businesses in Zimbabwe to decline electronic payments for goods and services or offer discounts to encourage the public to pay in cash. He also said that he will issue out a press statement on such practices.

He also told The Herald that such businesses wanted to avoid paying taxes. Retailers that are demanding payment using hard cash citing that banks require hard cash to facilitate foreign payments for unprocessed edible oil are giant wholesalers, Mahomed Mussa and Metro Peech. Reports have also implicated big supermarket chain Choppies.