THE Zimbabwe National Chamber of Commerce (ZNCC) says the Reserve Bank of Zimbabwe (RBZ) must prioritise foreign currency allocations to exporting firms if it is unable to review its current retention ratio, which stands at 40 percent of earnings.
Under the current regulations, exporters receive 40 percent of their proceeds in the local currency converted using the bank rate. Business however, argues that this discourages and deters first time exporters.
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Josephine Takundwa
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