FULL TEXT: Simbisa Brands Responds To RBZ Ban On InnBucks

Simbisa Brands has responded to a press statement by Dr John Mangudya, the Governor of the Reserve Bank of Zimbabwe which was to the effect that InnBucks, a subsidiary of Simbisa, had been ordered to stop dealing in any financial transactions. The central bank said InnBucks had failed to apply for and obtain necessary approvals in order to continue offering the service. In a statement, seen by Pindula News, Simbisa Brands said they were working to resolve the matter. Reads the statement:

To our Valued Customers,

The Press Statement issued by the Governor of the Reserve Bank of Zimbabwe on 20 April, 2022 refers.

InnBucks has been and remains engaged with the regulator in respect of its ADLA license. Regrettably, an impasse has occurred in respect of which the Simbisa Board is engaging the regulator with a view of achieving a speedy and amicable resolution.

Pending further statements, we assure you that funds held in the InnBucks accounts remain secure and all product purchases and cash withdrawals will be honoured as per regulations.

Thank you for putting your trust in us.

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By order of the Simbisa Brands Limited Board of Directors.
20 April 2022

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