adminBianca Mlilo, Business Reporter
A LOCAL fuel service station, Glow Petroleum, has irked motorists in Bulawayo by refusing to accept bond coins as a medium of transaction.
Bonds coins are legal tender in Zimbabwe with their value indexed at par with the United States cents.
The coins work alongside a basket of currencies that include the South Africa rand and the Botswana pula.
Irate motorists who spoke to Business Chronicle yesterday lashed out at the owners of the newly established service station in the city.
“Do they think we will always get the US$ to buy fuel from them? Isn’t bond coins are also money and can be used to transact anywhere in the country,” said Mr Busani Maphosa.
Another motorist Mr Godfrey Chauke said: “What I would like to know is whether some companies are exempted from using the bond coins. If not, then why is this filling station doing it?”
Glow Petroleum managing director Mr Aaron Chinhara said they were not accepting bond coins for administrative reasons. “These people are not sitting at a counter and do not have a till to put the coins in.
“Let us not talk about the legality of the bond coins because when the Reserve Bank (of Zimbabwe) introduced them, the governor (Dr John Mangudya) said they were change, not legal tender. I dare anyone to take me to court over that, I will not take bond coins.”
Dr Bongani Ngwenya, an economist, said the rejection of legal tender could have dire consequences for the business entity.
“This business could find itself in serious trouble with authorities. Even if authorities choose not to enforce the law, the truth remains that bond coins are legal tender and rejecting them is not justifiable at all.”
@BiancaMlilo
Online Reporter