GMAZ threatens to withhold supplies to retailers rejecting local bank notes

Millers to withhold products from shops rejecting bond notes
GMAZ Chairperson Tafadzwa Musarara

THE Grain Millers Association of Zimbabwe (GMAZ) has ordered retailers to accept all local bond notes or face supply cuts.

This comes as Zimbabwean businesses continue to shun the fast weakening local currency with both formal and informal retailers rejecting some local bank notes especially those below the newly introduced $10 bill.

Others are outrightly demanding United States dollars for the purchase of their products.

In a statement Thursday, GMAZ chairman Tafadzwa Musarara said retailers who refused to comply will face supply cuts from the grain processors.

“We urge all entities distributing our products to accept all bank notes and use them to buy from us or bank them and pay for our products by bank transfers. We demand that the same payment arrangement be extended to consumers.

“GMAZ will be partnering with the Consumer Council of Zimbabwe in arresting this practice.

“Wholesalers and retailers refusing these bank notes will be put on stop to supply.”

Musarara added; “GMAZ is gravely concerned with reports that some shops are refusing to accept some bank notes when consumers want to purchase some of our products.

“This conduct is illegal and it unnecessarily inconveniences consumers, consequently compromising food availability in their households.

“GMAZ is in the business of grain processing for the production of maize meal, self-raising flour, salt, rice, sugar beans, soya chunks which are critical for sustaining food security at household level.

“Distribution of these products are largely through retail shop (both formal and informal) and are bought from us through bank transfers, mobile transfers and cash.” newzimbabwe


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