The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has requested government approval to allow local telecommunications companies to set tariffs in US dollars. This move is a response to ongoing economic challenges and the instability of the Zimbabwean dollar. The aim is to introduce some stability to the national telecoms market for the benefit of both consumers and operators. In August, the Reserve Bank of Zimbabwe reported a year-on-year inflation rate of 77.2%.
Gift Machengete, managing director of POTRAZ, stated, “We have engaged with the Ministry of ICT, Postal and Courier Services, which has also consulted with the Ministry of Finance, to seek approval for implementing a pricing model where rates are denominated in US dollars, while the local currency will be pegged at the prevailing exchange rate. This proposal aims to bring about price stability and predictability to the sector.”
