Omnibus operators in Bulawayo agree to accept new ZiG currency

Zimbabwe: Commuter omnibus operators in Bulawayo have denied to refuse to acceptance of the new Zimbabwe Gold (ZiG) currency and stated that they are accepting it for the fares, needed to be exchanged.

Reportedly, the Zimbabwe Energy Regulatory Authority (ZERA) has added ZiG as a payment option for fuel purchases, which is significant in promoting the use of the gold-backed currency nationwide.

The Reserve Bank of Zimbabwe introduced the new ZiG currency to stabilize the economy and rebuild confidence in the financial system.

Moreover, ZERA aims to encourage motorists, that include commuter operators to transition to ZiG transactions by adjusting fuel prices to highlight the new currency. ZERA also lauded the ZiG’s long-term benefits for the country and its citizens.

As per the report, from the last week, it is claimed that Bulawayo commuter operators reversed their initial pledge to accept ZiG, citing the inability to buy fuel using the new local currency.

The Marketing Director of Tshova Mubaiwa – Ndaba Mabunda has confirmed that they are accepting the ZiG currency.

Mabunda added that the announcement by ZERA has shown commitment and interest by the authorities to balance the equation.

He said, “There is no way we are denying the ZiG. Transport operators also use the ZiG to purchase goods and services other than the fuel. As, ZiG is our national currency and accepting it must never be an option.”

Furthermore, Chairperson of Bulawayo Urban Public Transport Association – Morgan Msipa expressed his support and enthusiasm for the ZiG currency. He said that the transport sector is eager to adopt ZiG as it will minimize the hassle of finding change for passengers.

Chairperson Msipa further stated that it might improve their lives. They have issues of lack of change and hope that once the money is in circulation that can be a thing of the past.

He then praised the efforts by the Government to accommodate the local currency in the procurement of fuel.

Msipa confirmed from his side by saying, “Let me make it clear that we are not saying no to the ZiG. We had concerns about fuel stations not accepting it.”

Governor of Reserve Bank of Zimbabwe – John Mushayavanhu warned that it will be in the best interest of fuel stations to start accepting ZiG because tax returns will be 50% in local currency in June-July.

He said, “We are in a multi-currency regime, nothing is stopping a fuel dealer from selling their fuel partly in ZiG and partly in any other currency.”

“If the fuel dealer is not selling the fuel in ZiG, they will find themselves in a situation where they will be looking for ZiG to pay tax in the coming June or July. I am warning then that when we get to June-July, the ZiG rate may actually strengthen such that they will lose out,” said Governor Mushayavanhu.