October 3, 2019

We still accept forex: Simbisa

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Business Writer

FAST foods giant, Simbisa Brands Limited, says it will continue accepting foreign exchange (forex) payments despite a central bank ban on the use of forex in domestic transactions.

In a statement, the company – which houses outlets like Chicken Inn, Pizza Inn and others – said it was a registered tourist facility, and thus exempt from the demands of Statutory Instrument 231 of 2019, giving the Reserve Bank of Zimbabwe powers to penalise anyone who charges or pays for a local transaction using forex.

“This is a registered tourist facility in terms of Section 2 of the Tourism Act (Chapter 14:20).

“We therefore accept settlement in foreign currency from tourists and visitors,” the Zimbabwe Stock Exchange-listed firm said.

This comes as the group recently announced it would delay publishing its audited financial statements for the financial year ended June 30 2019, on the back of functional and reporting currency changes in Zimbabwe.

In a circular released last week, Simbisa said the results – due for release at the end of September 2019 – will now be published on or before October 15 2019.

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