HomeBusinessZera registers more forex fuel dealers

Zera registers more forex fuel dealers

-

BY FIDELITY MHLANGA

THE Zimbabwe Energy Regulatory Authority (Zera) has invited more fuel companies to sell fuel in foreign currency in yet another clear sign that the economy was fast redollarising.

Last month, authorities came under fire for giving Zuva Petroleum the greenlight to sell fuel in foreign currency despite government having banned last year the use of US dollar in the market.

“Petroleum companies are requested to submit proposed sites to sell in foreign currency procured through free funds based on the following criteria: A maximum of two sites in Harare and Bulawayo per petroleum company and a maximum of one site in all other town and cities,” Zera said in a statement.

“Please note that selected sites will be expected to do 100 direct fuel imports. For companies that do not hold procurement licences, the submissions should include the name of the supplier of the fuel to be traded in foreign currency. Petroleum companies are advised to make submissions before end of day on Tuesday 3 march 2020.”

Questions have already been raised as to why Zuva Petroleum has more than two sites in Harare selling in forex while other dealers have been restricted to only two sites.

Zera was not available for comment as its acting chief executive Eddington Mazambani did not respond to questions sent via email and WhatsApp.

Recent Posts

Stories you will enjoy

Recommended reading