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TWO retail outlets were yesterday fined by a Harare regional magistrate for contravening section 13 of the Bank Use Promotion Act after they failed to bank their cash.

Bathroom Boutique, which was represented by its general manager, Faith Chumbu, was fined $9 700, while Eurostar Electricals Company, which was represented by its manager, Paul Muyengi, was fined $20 000.

Bathroom Boutique was then ordered to pay $8 200 after magistrate Hosiah Mujaya suspended $1 500 on condition that the company shall not be convicted of similar charges within the next five years, while Eurostar Electricals was ordered to pay $18 000 after $2 000 was suspended on the same conditions.

  • - newsday
  • BUILDERS Home retail shop was yesterday fined $17 000 by a Harare magistrate for wilfully not banking cash.

    The retail shop, which was represented by its administrator Charles Mutseka, pleaded guilty to contravening sections of the Bank Use Promotion Act when it appeared before regional magistrate Hosiah Mujaya.

    However, Builders Home will pay $15 000 after magistrate Mujaya suspended $2 000 on condition that the company will not be found guilty of the same charges in the next five years.

    According to the State, on January 14 this year, Builders Home was served with a disclosure order by Tongesayi Murape, a representative of the central bank, requiring the company to submit returns on cash sales and deposits on a daily basis as required by the Reserve Bank of Zimbabwe (RBZ) Act.

  • - newsday
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