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ZIMBABWE EENERGY REGULATORY AUTHORITY (Zera) following our recent revelations on www.newzimbabwevision.com about the fuel crisis in Zimbabwe, being a deliberate situation by a few well connected individuals who are reaping millions
ZIMBABWE EENERGY REGULATORY AUTHORITY (Zera) following our recent revelations on www.newzimbabwevision.com about the fuel crisis in Zimbabwe, being a deliberate situation by a few well connected individuals who are reaping millions from the suffering inflicted upon Zimbabweans, the says it is carrying out investigations in collaboration with the police on fuel dealers accused of pushing the product to the black market, where it is then sold at exorbitant prices.
www.newzimbabwevision.com recently revealed that Zimbabweans need to awaken to the current fuel chaos that is causing shortages countrywide. The real source of this crisis is man made, deliberately created to enrich a few well connected individuals who are reaping millions from the suffering inflicted upon Zimbabweans, the ZIMBABWE Energy Regulatory Authority (Zera) has now sat up at attention finally and is now conducting investigations along with the Zimbabwe Republic Police (ZRP) about fuel dealers selling fuel to the black market, where it is then sold at exorbitant prices instead of at their delivery points or service stations, causing untold suffering amongst Zimbabweans.
Fuel is brought to Zimbabwe along the Feruka pipeline which draws fuel from the Mozambique city of Beira, all the way to Harare for storage at the Harare Msasa depot before distribution to fuel suppliers.
The fuel is imported by the well connected Queen Bee fuel cartel who are given US$ by the RBZ, Zimbabwe reserve bank which pegged the exchange rate at US$1 to 1Bond. This is then used by the fuel cartel which includes Queen bee Kuda Tagwirei of Sakunda Trafigura an individual well connected to President Emmerson Mnangagwa. Queen Bee is so powerful , filthy rich and funds the zimbabwe Command Agriculture programme.
www.newzimbabwevision.com will now reveal how these people milk the economy openly. When ships dock at the Mozambique city of Beira, they offload their fuel cargo into the 287 km long Feruka pipeline which draws fuel from the Mozambique city of Beira, for storage at the Harare Msasa depot for distribution.
The Zimbabwe government only controls 21 km of through its company Companhiado Pipeline and Mozambique, controls the rest of the pipeline.
So far so good? Not really, the truth is that the Reserve Bank actually gives millions inUS$ forex to the cartel, who import the fuel, then when the fuel is distributed from the Harare Msasa depot to fuel stations for sale to the public, not all the fuel is sold to the public and the bulk of the fuel is diverted to mainly Zambia, a neighbouring nation facing fuel shortage and sold in readily available US$ to garages there.
The Zimbabwe fuel cartel then have to repay the Zimbabwe Reserve bank, (RBZ), but they sell the US$ to black market traders at an extortionate rate of at times 1US$ to 4 Bond, then repay the RBZ in bond notes, example, the fuel cartel could have obtained US$20 million from RBZ to import fuel, then through the artificial fuel shortage they create as they smuggle out fuel to Zambia, they sell the fuel and earn greatly in US$ as Zimbabwe’s fuel is cheap in comparison to other states, then with the US$ gained they , for example sell the US$20 million to black market traders for four times the exchange rate US$80 million in bond notes, then repay the RBZ $20 million loan, effectively pocketing $60million bond which they then launder through the system as they generate millions from the artificial fuel shortage.
In reality fuel costs in US dollar terms using the Old Mutual implied rate, fuel in Zimbabwe costs approximately US$0.35 and generally US$1.30 in the Southern African region. The fuel cartel has too many key figures including President Emmerson Mnangagwa, Vice President Chiwenga and Queen bee, and the artificial shortage will not be stopped as it would block their cash making scheme. Zimbabweans need to awaken to the reality before them, I will continue to alert the nation about the scandals happening right before their eyes, created by the corrupt militarised Zanu pf regime Mnangagwa and Quuen bee caucus.
At present there is high interest by foreign investors in building another pipeline from Mozambique to Bulawayo. Bulawayo is a center for distribution to neighbours in the region including Zambia and Botswana, once upon was a transport regional hub centre for the National Railways of Zimbabwe (NRZ) which contributed massively to the economy across the region and connected the region by transporting goods, people and services widely throughout the region until Mugabe collapsed the economy.
The reason why this fuel pipeline is not going to take off easily is because it will collapse the Queen Bee , Mnangagwa cash cow once fuel is readily supplied to Bulawayo and readily available and transported to neighbouring states, whether by NRZ or their fuel trucks. Its fair to say, that those well connected, are filthy rich and want the status quo maintained,..wake up Zimbabwe! More news to follow. By Sibusiso Ngwenya