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Govt probes RBZ Zimdollar fuel facility abusers

by Staff reporter
22 Mar 2021 at 06:15hrs | Views
GOVERNMENT has launched investigations to ascertain whether the Reserve Bank of Zimbabwe facility to avail foreign currency to oil companies to procure fuel was not being abused.

This was revealed last Thursday by Energy minister Zhemu Soda in Senate after he was grilled by Matabeleland South MP Tambudzani Mohadi (Zanu-PF) over the sale of fuel in foreign currency only throughout the country when people earned salaries in local currency.

Soda said about 49% of the fuel that was available on the market was through the RBZ facility, which meant that motorists should have managed to purchase fuel in local currency.

"There is a facility which is being handled through the Reserve Bank of Zimbabwe, where some oil companies are accessing the foreign currency that is required for them to import fuel in the country. For instance, last week's statistics indicated that 49% of the fuel that was availed on the market was through the RBZ facility," Soda said.

"We have since instituted some investigations through the regulator, the Zimbabwe Energy Regulatory Authority (Zera), to ascertain whether the fuel that is being procured using the RBZ facility is not being abused.

"A lot of consumers that we are discussing with seem to point out that the fuel procured through the RBZ facility, which is supposed to be sold in RTGS, is not available. We have since assigned Zera to look into that matter, and very soon, we shall be giving a statement pertaining to the findings," he said.

Soda said there could be some unscrupulous oil companies that were accessing fuel through the RBZ facilities, but abusing it.

"The list of those companies getting foreign currency from the RBZ facility is available. Zera, which is the regulator, has been assigned to go and do the investigations. Once the investigations are done, we shall provide the nation with a statement as to the findings and also whether the facility was abused or not," he said.

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