DELAYS in issuing Negotiable Non-Convertible Certificates of Deposit (NNCDs), promised as payment for outstanding auction allotments, have raised concerns among businesses.
However, relief is expected with the recent announcement that these certificates will be made tradable.
Managing director of Tendo, Mike Kamungeremu, expressed the frustration of businesses.
“In our reports, nobody highlighted that they got their NNCDs, and it’s now three months down the line…Some had genuine concerns where customers had made prepayments and were demanding delivery of goods and services.”