Police Make a U-Turn on alcohol ban

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Delta Beverages gets some relief as Police make a U turn on their alcohol ban. During the 21-day lockdown alcohol sales can continue on condition that they are not consumed in public. All licensed bottle stores or outlets who offer off premises sales are reminded to conduct their business according to Covid-19 guidelines.

The below were clarified by Assistant Commissioner Paul Nyathi:

The Zimbabwe Republic Police wishes to clarify on the issue of selling of liquor by supermarkets that have got exemptions (and) are allowed to sell liquor to members of the public for consumption, off-the-premises.

Consumers are not allowed to assemble outside such premises or to drink while seated in vehicles as individuals or as groups.

All purchased liquor should only be consumed in the privacy of individuals’ homes as outlined in the Covid-19 guidelines or exemption structures.

Those caught drinking beer in public places will be fined up to $500.

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The Lingo

OMIR

The ‘Old Mutual Implied Rate’ is a comparison between the Old Mutual share price on the London stock exchange / the Johannesburg stock exchange and the Zimbabwe stock exchange. Effectively RTGS is valued at 1:1 with the USD, but this difference in share price gives us the implied countries exchange rate.

RTGS

Real-time gross settlement systems (RTGS) is a funds transfer system where money transfer takes place from one bank to another on a “real time” basis and “gross” basis. Settlement in the “real time” means that the transaction happens almost immediately.

BOND

The Zimbabwe Bond Note is a surrogate currency issued by the Reserve Bank of Zimbabwe. This was originally issued against a loan facility from the African Export-Import Bank. The Bond Note is officially 1:1 however the market seems to have significantly discounted the value of the Bond Note.

ZAR

The symbol ZAR is the currency abbreviation for the South African rand.