The growing willingness of fuel companies to accept Zimbabwe Gold (ZiG) for wholesale purchases is an encouraging development that demonstrates increasing confidence in the local currency.
It is a positive step that deserves recognition, but the companies must now go further and extend the same facility to ordinary motorists buying fuel at service stations.
Reserve Bank of Zimbabwe (RBZ) Deputy Governor Dr Innocent Matshe told delegates attending the 2027 Pre-Budget Seminar in Bulawayo that some petroleum companies were accepting ZiG for bulk fuel purchases to meet their statutory obligations.
“So, what they have opted to do in the interim is to sell it in wholesale in ZiG,” Dr Matshe said.
The development is commendable because it demonstrates that fuel companies recognise the usefulness of the domestic currency in their operations.
However, we believe there is no compelling reason why a currency considered acceptable for wholesale transactions should remain unacceptable at retail pumps.
Fuel companies should recognise that the economic environment has improved considerably, creating favourable conditions for wider use of ZiG.
Full story COMMENT: Fuel companies must extend ZiG sales to motorists – herald
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