22 Dec 2015

The Ministry of Trade and Industry (MTI) says it has established that some businesses, especially chain-stores, are displaying their merchandise in other currencies especially the Rand, instead of Pula.

A press release from the ministry explains that in most cases, consumers are made to pay in Pula without taking the exchange rate differential into consideration. 

“This is unfair trade practice whereby the Pula/ Rand exchange rate differential is not passed onto the consumer.

Therefore businesses that are practicing this are advised to stop forthwith and failure to do so may result in their trade licenses being reviewed, which may lead to their suspension or cancellation,” the ministry’s acting permanent secretary Ms Ontlametse Ward states in the release.

She advises the general public not to accept paying for merchandise that is priced in the Rand or any foreign currency other than the Pula. Ends