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Supporting the Zimbabwe Dollar (ZWL) on Biz4x

Biz4x is in use in more than 35 countries around the world. While our strongest customer base remains in the Asia Pacific, increasingly we see more and more businesses in Africa turning to us for a money changer software that can help them to run their bureaux de change or forex bureaus. Currently, we have customers from Botswana, Burkina Faso, Cameroon, Equatorial Guinea, Kenya, Madagascar, Rwanda, Tanzania, Zambia and now, Zimbabwe.

On 24 June 2019, the Reserve Bank of Zimbabwe's Legal Tender Regulations abolished multiple currencies and made the Zimdollar (ZWL) the sole currency through the Statutory Instrument 142 (SI 142). Foreign currencies such as "the British pound, United States dollar, South African rand, Botswana pula" are no longer legal tender and RTGS dollars are on par with the ZWL. As such, any company looking to provide a viable solution for forex bureaus in Zimbabwe now has to be able to support the local currency, the Zimbabwe dollar (ZWL).

As of 3 July 2019, the local Zimbabwe dollar is now supported by Biz4x. Bureaux de change based in Zimbabwe are now able to set up their currencies and rates with the local Zimbabwe dollar (ZWL). This allows bureaux de change to record transactions and stocks, manage rateboards, refer to live market data, as well as generate and export the profit and loss report, the transaction report and the stock reports for the Zimdollar.

Biz4x aims to be the leading platform for currency exchanges globally, and working to support new regulations and reporting required by central banks is just one of the ways that we are doing so. In the near future, Biz4x is looking to support the ECO currency, which will be adopted by 15 West Africa countries in 2020. If you are a bureau de change in Zimbabwe looking for a business management system, reach out to us for a discussion on how we can help your business at sales@biz4x.com.