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Simbisa Brands on Tuesday became one of the major retailers to publicly endorse and support the push by Government to accept payments in other currencies in the wake of shortages of the United States dollar. The firm, a subsidiary of Innscor Africa Limited said all its fast food outlets would now accept payment in other currencies in the approved basket of foreign currencies other than the hugely sought after US dollar.Zimbabwe is battling to contain a seemingly unceasing cash shortage, primarily due to the over-reliance on use of the US dollar, after the country adopted a basket of nine currencies in 2009.

A combination of factors including high imports and externalization have resulted in the country struggling to maintain an equilibrium between demand and supply of the sought after greenback.

Other currencies in the multi-currencies basket include the Australian dollar, Botswana Pula, British Pound, Euro, Chinese Yuan, Japanese Yen and the Indian Rupee have largely remained unused while the South African Rand was rejected in the market.

But as shortage of US dollar notes bites, the government is making efforts to restore the multi-currency regime to its original intention and since has ordered its departments to accept payment in other currencies in the basket starting July 1 this year.

Following in footsteps of the government, Simbisa Brands, which owns popular fast foods outlets including Chicken Inn, Pizza Inn, Bakers Inn, Dial

a Delivery, Nandos and Steers said it would also accept payments in six other currencies in the basket besides the US dollar.

“Pricing of our products sold or advertised for sale through our outlets are currently priced in United States dollars. However for your convenience, you can now purchase your favorite meals using South African Rands, Botswana Pula, British Pounds, Euros, Chinese Yuan and Indian Rupee,” the firm, said.

The list of currencies, without explanation, however excluded the Yen and the Australian dollar.

Simbisa Brands said it was also accepting payments using electronic means through Visa, MasterCard, Zimswitch and Ecocash.

Most companies, particularly retail outlets have been forced to adopt point of sale systems as consumers battled to access cash from banks,

which was also impacting their sales.

The cash shortage has been a blessing in disguise for the Reserve Bank of Zimbabwe which had largely tried to push for use of plastic money without success. – New Ziana.