FULL TEXT: RBZ Issues Weekly Update On Fuel Finance Facilities

The Reserve Bank of Zimbabwe (RBZ) has announced that for the month of March 2020, the fuel facilities administered by local banks with the support of the central Bank amount to US$120 million.

Of this amount, US$18.47 million worth of letters of credit have been confirmed for the immediate drawing of fuel by Oil Marketing Companies from NOIC depot in Msasa, Harare as follows:

• Trafigura – $7.50 million
• Total – $2.50 million
• Zuva – $3.00 million
• Puma – $1.50 million
• IMIG – $1.52 million
• Petrotrade – $1.25 million
• Engen – $0.70 million
• Raven Energy – $0.50 million

See the full statement below.