RBZ Okays Selling Of Fuel In Forex

3 years ago
Fri, 21 Feb 2020 18:00:20 GMT
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RBZ Okays Selling Of Fuel In Forex

Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said the Central Bank has given the Zimbabwe Energy Regulatory Authority (ZERA) approval to register fuel service stations with free funds for direct imports to be sold in foreign currency.

Mangudya said like passports, people who have free funds will be able to buy fuel using foreign currency. Said Mangudya:

We are now waiting for ZERA to ensure that they register or designate those service stations that will be selling in foreign currency so that there will be efficiency in terms of transparency, monitoring and books.

The oil marketing companies are going to apply to ZERA so that they will be registered to sell to people with free funds. Just like the passports, if you have the money (US dollars) you can pay to get your passport.

Mangudya’s remarks follow a recent announcement made by Zuva Petroleum that it will be accepting foreign currency for fuel payments at eight of the firm’s service stations across the country.

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There are four such service stations in Harare, and one each in Bulawayo, Mutare, Gweru and Victoria Falls.

More: Business Weekly



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