Monday, 15 July 2013
Is Choppies now a bureau de change?
At least one of their outlets is accepting payment in South African Rand as you can see from the picture taken earlier today.
Their exchange rate appears to be R1.25 = P1. Some questions spring to mind.
How do they account for this to BURS? Do they report the Rand income or the Pula equivalent?
How do they give you change? If you buy something that's priced at P100, and you're carrying Rand, you'll have to give them R125. What change do they give you? R25 in Rand or P20 in Pula?
If they give you the chance in Pula, are they exchanging currency? If you want to run a business that exchanges currency you need to be registered with the Bank of Botswana as a bureau de change.
We'll ask them and find out.