Almot Maqolo, Staff Writer 
SUPERMARKET chain Choppies Enterprises (Choppies) has confirmed receipt of a US$1,8 million lump sum payment for blocked funds from the government of Zimbabwe aimed at settling outstanding obligations to foreign shareholders and restoring confidence in the business community.
Blocked funds refer to foreign currency earnings that externally based companies like Choppies had generated through their Zimbabwean operations but could not repatriate due to foreign exchange shortages.
These funds were trapped in Zimbabwe as the Reserve Bank of Zimbabwe (RBZ) could not provide the necessary foreign currency for the transfers.
For Choppies, this created a massive operational headache. The group’s profits from Zimbabwean stores sat idle in local banks, while suppliers outside the country demanded payment in hard currency.
In a significant policy shift, the RBZ announced its commitment to releasing some of these blocked funds, providing businesses with foreign currency to repatriate their earnings or settle external obligations.
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