Home Economy More than 100 Zim shop owners arrested for not accepting local currency

More than 100 Zim shop owners arrested for not accepting local currency

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Police have arrested over 100 shop owners and traders for declining to accept payment in local banknotes.

There is growing hostility towards the use of local currency as it remains to lose value due to hyperinflation.

In six days 102 people have been arrested, and 28 have already appeared in court being charged with breaching a section of the Bank Use Promotion Act.

Current inflation is more than 785% in Zimbabwe and most people now eager to be paid in US dollars, even though only a small portion of workers are paid in foreign currency.

Many families receive small monthly payments from reletives working abroad, and local demand for these remittances may well go up as businesses increasingly demand US dollars.

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