Addressing delegates to the Institute of Administration and Commerce annual conference in Victoria Falls yesterday, Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Kupukile Mlambo said that they will soon raid fuel dealers who reject coupons.
There were enough stocks of fuel and cooking oil but the problem is that dealers could not cope with demand due to panic buying. If there was no panic buying, we wouldn’t have shortages. We have increased fuel allocation from $5 million to $10 million per week but they complained about timeliness. I am disappointed that a lot of them are demanding cash even if motorists are carrying coupons. The country has a shortage of foreign currency. The challenge is that fuel dealers who consume much of the foreign currency don’t bring any. They must honour that coupon because they have taken your money. We are against it and we will descend on them.
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The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe
Victoria Falls is a name of the resort town located in the Matabeleland North Province of Zimbabwe and named after the waterfall. The town is located on the northern border which separates Zimbabwe from Zambia, on the Zambezi River, about 1000km from it's source. The... Read More About Victoria Falls