Andrew
Online Reporter
The tourism and hospitality industry will now retain 100 percent of its foreign currency earnings to allow it to recapitalise and improve its product offering.
The Reserve Bank of Zimbabwe (RBZ), through its latest Monetary Policy Statement (MPS), on Monday announced the new intervention.
“In order to respond to the adverse effects of Covid-19 on the tourism sector, which was hard-hit by the pandemic not only in Zimbabwe but the world over, with immediate effect, players in the tourism and hospitality industry shall retain 100 percent of their foreign currency earnings,” said RBZ Governor Dr John Mangudya.
“Retaining their foreign currency earnings will allow players in the tourism and hospitality industry to quickly recapitalise and procure the necessary goods and services required by tourists and travellers.”
Online Reporter