By Paidashe Mandivengerei
Businesses which export their products will now pay their elecricity bills to Zimbabwe Electricity Supply Authority (ZESA) in foreign currency.
In Statutory Instrument 249 of 2019 in Government Gazette published on the 29th of November government said licensed investors and business which get their revenue and income must pay bills in United States dollars or any equivalent foreign curency.
“Notwithstanding subsection (1) of section 4 of the principal regulations, but subject to subsection (2) of section 4 of those regulations and further notwithstanding section 2 of Statutory Instrument 142 of 2019 Reserve Bank of Zimbabwe (Legal Tender) Regulations, 2019, ZESA shall be allowed to bill in United States dollars or the equivalent in Euro or any other currency for the supply of electricity by ZESA to the exporters, and partial exporters earning their revenue or receiving their income in foreign currency. (2) Notwithstanding subsection (1) of section 4 of the principal regulations, but subject to subsection (2) of section 4 of those regulations, an exporter billed in United States dollars in terms of subsection (1) shall pay the bill for the supply of electricity by ZESA in United States dollars or the equivalent in Euros or in any other currency denominated under the Exchange Control Order at the international cross rate prevailing on the date of payment.”
