Published On: Fri, Nov 11th, 2016

International airlines in Zimbabwe to accept bond notes

Harare –Board of Airlines Representatives in Zimbabwe has said airlines operating in Zimbabwe will be accepting bond notes as a mode of payment upon their launch anytime soon this month.

This comes as  Reserve Bank of Zimbabwe (RBZ) has assured  the airlines that  that acceptance of bond notes as a  mode of payment will not affect  repatriation of their funds.

Board of Airlines Representatives Chairperson who is also  South African Airways country manager Winnie  Muchanyuka said  airlines  the ability to repatriate their funds is crucial and the assurance from RBZ is all they needed.

Muchanyuka said according to  International Air Transport Association(IATA), repatriation of funds is part of the business and adding that  RBZ  has assured them that they are  currently prioritizing airlines repatriations and happy with the progress.

“As a result, international airlines will be accepting bond notes as payment as long as the Governor keeps his word,” she said.

“This is the assurance that we wanted and the RBZ has given us and encouraged us to continue   accept whatever currency we accept and they facilitate the currency for us to repatriate. Because we aware worried how were going to convert bonds notes to us dollars,” she said.

Muchanyuka said this was a viable arrangement if the central bank kept its own end of the continuum adding that there were all indications that airlines repartition will be given priority.

“We are happy and at the rate we are going there all indications that our repatriations will be given priority and that enough for us. A number of countries in the regions are facing currency problems and Zimbabwe is not an option therefore the arrangement came handy for us,” she said.

Board of Airlines is a subsidiary of the Zimbabwe council of tourism in which Muchanyuka is also the vice president.

Meanwhile, the Zimbabwe Council for Tourism  has appointed  Tichaona Hwingwiri as its new president  taking over from Francis Ngwenya who completed his two year term.

Hwingwiri is currently head of Holliday inn  division  and past president of  the Hospitality Association of Zimbabwe.

Accepting his appointment Hwingwiri said  he was going to engage on intense resource mobilization  drive synchronization of the industry as well as  research and development to revamp ZCT’s effort in making the Zimbabwe’s  tourism  industry  attractive.





Follow Our Updates