Business Reporter
Some service stations across the country have begun accepting payments in the Zimbabwe Gold, signalling growing confidence in the local currency as the Government intensifies efforts to stabilise and entrench its use across the economy.
The development marks a notable shift from the resistance that followed the Reserve Bank of Zimbabwe’s (RBZ) introduction of the ZiG in April 2024, when adoption in key sectors such as fuel remained limited.
The move comes as Government steps up measures to mainstream the currency, including requiring a portion of taxes and public-sector transactions to be settled in ZiG, as part of a broader strategy to reduce reliance on foreign currencies, particularly the United States dollar.
In a snap survey in Bulawayo, motorists purchasing fuel using ZiG at selected service stations, albeit under controlled conditions.
In interviews, industry players said transactions are being conducted at varying exchange rates, reflecting prevailing market dynamics and operational considerations.
Most service stations, however, are limiting the number of ZiG transactions processed at any given time, with caps placed on the volume of local-currency sales.
“We have started accepting ZiG at our station. However, we limit transactions and mostly deal with large corporate clients that deposit funds for fuel purchases on account.
“While volumes are controlled, the system is working smoothly and we are serving motorists efficiently using the local currency,” said a fuel attendant in Bulawayo who declined to be named.
Another petrol attendant said that although exchange rates are guided internally, there is optimism that full ZiG-based transactions could eventually be realised.
“Accepting ZiG has brought convenience to clients who earn in local currency. For now, we are limiting daily transactions to ensure proper monitoring and accountability,” said the attendant.
-Zimpapers
