Commuter operators welcome ZiG

COMMUTER omnibus operators in Bulawayo have denied refusing to accept the new Zimbabwe Gold (ZiG) currency, stating that they are accepting it for fares.

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 ZiG to stabilise the economy and rebuild confidence in the financial system. By adjusting fuel prices to reflect the new currency, ZERA aims to encourage motorists, including commuter operators, to transition to ZiG transactions.

ZiG’s long-term benefits for the country and its citizens have been lauded by ZERA.

Last week’s reports claimed Bulawayo commuter operators reversed their initial pledge to accept ZiG, citing the inability to buy fuel using the new local currency.

However, Tshova Mubaiwa marketing director, Mr Ndaba Mabunda, confirmed that they are accepting the ZiG currency.

“There is no way we are denying the ZiG. The announcement by ZERA also shows commitment and interest by authorities to balance the equation. Transport operators also use the ZiG to purchase other goods and services other than fuel. ZiG is our national currency and accepting it must never be an option,” said Mr Mabunda.

Bulawayo Urban Public Transport Association chairperson, Mr Morgan Msipa, expressed enthusiasm for the ZiG currency. He said the transport sector is eager to adopt ZiG as it will minimise the hassle of finding change for passengers.

“It might improve our lives. We have issues of lack of change and we hope that once the money is in circulation that can be a thing of the past,” he said.

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

“Let me make it clear that we are not saying no to the ZiG. We had concerns about fuel stations not accepting it,” said Mr Msipa.

RBZ Governor Dr John Mushayavanhu warned that it will be in the best interest of fuel stations to start accepting ZiG because tax returns will be 50 percent in local currency in June-July. “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,” he said.

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