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Fuel retailers in limbo as suppliers demand cash and reject plastic money

Independant service stations and other fuel retailers are now in limbo as their suppliers are rejecting plastic money, preferring to deal in hard cash.  The suppliers have blamed the Reserve Bank of Zimbabwe for delaying payments to foreign fuel suppliers which they say  is hindering the importation of fuel.

Kwekwe businessman Mr Temba Musekiwa who was speaking on behalf of fuel retailers and suppliers told the Zimbabwe Energy Regulatory Authority (ZERA) that:

 

We no longer know what to do now because the Reserve Bank of Zimbabwe (RBZ) is encouraging us to use plastic money and we have obliged by putting swipe machines at our service stations. However, we have a challenge with fuel suppliers who are demanding cash for the supplies.

Their argument is that they need to make their payments using cash and the problem they have been having with offshore transfers is that the RBZ is taking long to clear the transactions and this might result in fuel shortages. So as fuel retailers we are now between a hard place and a rock now.

 

More: Chronicle

 

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