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.

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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7 comments on “RBZ Okays Selling Of Fuel In Forex

  1. Cde governor you have failed us bigtime. Is that what you meant de-dollarasing? You now expect us to buy fuel using the money that you declared an illegal tender.

  2. All other sectors, supermarkets included, will now demand to trade in forex. Remember producers are also procuring raw materials in forex.
    Zim has finally re-dollarised – I love this country!!

  3. No points for predicting what happens next… bond fuel will disappear while usd fuel will become more available. Even those who get subsidized fuel will have no fuel at subsidized service station and plenty at usd stations. Brilliant!

  4. If I buy fuel with usd, y cant I charge fees for my services in usd. I need the usd to cater for my business costs, right?

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