Zimbabwe News and Internet Radio

Outcry as Mnangagwa-linked Zuva Petroleum gets bye to sell in forex

By Staff Reporter

The Walter Mzembi led opposition People’s Party has castigated President Emmerson Mnangagwa’s regime for allowing certain service stations to sell fuel in foreign currency in Harare, despite the promulgation of laws which make the local currency the sole legal tender.

Zuva Petroleum
Zuva Petroleum

“The recent announcement by Zuva Petroleum company that eight of their service stations had been granted DFI status, allowing them to receipt and sell fuel in foreign currency, is yet another example of the policy inconsistency and brazen corruption that characterises Mnangagwa’s government.

“While trading in foreign currency has been outlawed for the rest of the business community, Zuva Petroleum is enjoying an exemption not available to other players in the industry.

“The question is why the company is enjoying these favours?

“This resurrects longstanding questions about the ownership and shareholding of Zuva Petroleum, which has long been suspected to have links with Mnangagwa himself,” the party said.

Meanwhile the  Zimbabwe Energy Regulatory Authority (Zera) chief executive Eddington Mazambani warned fuel outlets against charging ungazetted prices for their products, saying the authority will withdraw operating licences for the perpetrators.

Addressing media on the sidelines of the annual general conference of the Regional Energy Regulatory Association of Southern Africa in South Africa, Muzambani dismissed as fake a report on social media that fuel had gone up from ZWL19.55 to ZWL23.

“Without giving names, yes, there was one or two outlets which had increased prices of fuel based on fake social media news which was circulating,” he said.

“But they managed to correct the prices in a short period of time after we engaged them. This is the second time that it is happening and we have spoken with the outlets concerned that any future indiscretions of that nature will result in us revoking the license without us entering into any negotiations.

“Normally, what we do when someone has broken the regulations is we give them what we call a compliance order, which gives them time to correct whatever wrong they would have done.

“But we have said to these guys that this is the final time they have done this. Any indiscretions in future, we just cancel the license without affording them any opportunity to comply,” Muzambani said. Nehanda Radio

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