This time last week we got the news that the government had issued Statutory Instrument 127 of 2021. In SI 127 are a raft of new measures that govern the rules of forex in the country not only for those participating in RBZ’s Forex Auction but for the nation at large. And as I am sure you are aware, there was massive backlash from all corners of Zimbabwe. Pundits, experts and armchair economists alike said that this will increase prices, increase the scarcity of USD in formal channels, inconvenience businesses and encourage black market forex deals.
Here’s our take of one week under SI 127 of 2021 and what we have seen since it was announced.
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SI 127 has been the talk of the town and for good reason. The Statutory Instrument is going to increase prices in ZWL$ particularly because everyone will be juxtaposing the “official rate” with the parallel market rate.
SI 127 is going to increase ZWL$ prices & encourage black market conversions
ZIMRA recently gave a grace period for the importation of cars that are 10 years or older. Now, this comes after the ban the govt instituted in April 2021 which leads us to believe it’s all about the revenue dip ZIMRA was experiencing on its end.
Extending 10-year-old car imports after “the ban” is all about the money
Jabu’s Homecoming is now Zim’s first WhatsApp exclusive drama series. We got a chance to talk to the production’s PR Manager to hear all about what we are in store for.
Zim’s first WhatsApp exclusive drama is going to be like a family Group Chat
Zimswitch has become the focal point of the national payments system even more after it assumed the role as the nation switch. But why is company prioritising USD payments over local currency payments in this era of e-commerce?
Zimswitch needs to strike a balance between ZWL & USD e-commerce
- Businesses to face Z$50K fine for not accepting ZWL$ equivalent of US$ goods & services
- Did SI 127 affect Econet’s buy USD airtime for bonuses promotion?
- OK Zimbabwe has stopped accepting USD payments because of SI 127
- RBZ “SI 127 is not designed to harm business”
- The authors of chaos, the RBZ says otherwise but SI 127 will harm businesses
4 thoughts on “One week of SI 127: experts & armchair economists were right”
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Hi guys. Why are u still doing podcasts when u are zero rated only for text. Would appreciate it if we meet each other half way with those that don’t have data most of the time. Thank you
Can you provide text versions of your podcasts. I enjoy your site and articles, but as a Deaf techie, I have mo access to voice media. Missing out massively on your great content.