Central bank wary of incentives abuse

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THE Reserve Bank of Zimbabwe (RBZ) says it will put in place strong measures to ensure that the recently introduced export and investment incentives, which give some leniency on exchange controls, are not abused.

Following the Treasury’s announcement of the inducements in May, the central bank has now operationalised the programme through a directive to banks and exporters.
“Authorised dealers and exporters are reminded to ensure that they strictly comply with the incremental export framework,” RBZ Exchange Control director Farai Masendu, warned in the circular.