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Retail outlets taken to court for not banking, as cash crisis deepens

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THREE retail companies were yesterday taken to the Harare Magistrates’ Court for contravening section 13 of the Bank Use Promotion Act after they failed to bank their cash since July last year.

THREE retail companies were yesterday taken to the Harare Magistrates’ Court for contravening section 13 of the Bank Use Promotion Act after they failed to bank their cash since July last year.

BY DESMOND CHINGARANDE

Bathroom Boutique, represented by its general manager Faith Chumbu, Builders Home, represented by Charles Mutseka, and Eurostar Electricals, represented by its manager Paul Muyengi, appeared before magistrate Lazini Ncube, who remanded the matters for trial to April 19, 20 and 24 respectively.

The State, represented by Michael Reza, filed an application to have the company owners charged saying the persons representing the companies were mere workers who receive instructions from directors.

“Your Worship, the record shows only the companies being charged, but there was a human element that made a conscious decision not to bank the funds. It is the State position that there is need for that human being to come and explain that decision,” Reza said.

Magistrate Ncube gave the State the greenlight to amend the charge sheet to include the company owners.

It is the State’s case that on June 30 last year, Eurostar Electrical was served with a disclosure order by Reserve Bank of Zimbabwe (RBZ) official Tongesayi Murape requiring the company to submit returns on cash sales and deposits on a daily basis to the RBZ as provided for by the Act.

The State alleges Eurostar Electricals, through its director Shi Haiyan, acknowledged the disclosure order by signing the order.

It is alleged since the time Eurostar Electricals was served with the order, it did not submit returns to the RBZ as required by the Act.

Builders Home is also alleged to have failed to submit cash sales and deposits returns to the RBZ from January 14 this year to March 27. Bathroom Boutique also allegedly failed to submit the same from July last year to March 27 this year.