The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has asked the government for permission to authorise local telcos to set tariffs in US dollars.
The measure is a response to the ongoing economic crisis and the weakness of the local currency, the Zimbabwe dollar. The regulator says it is looking to bring some stability to the national telecoms market, helping both consumers and operators. According to the Reserve Bank of Zimbabwe, the year-on-year inflation rate stood at 77.2% in August.
A report from Ecofin cites Gift Machengete, Managing Director of POTRAZ, as saying: ‘We engaged the Ministry of ICT, Postal and Courier Services, which also engaged the Ministry of Finance, to get the green light to implement a pricing model in which rates are fixed in US dollars, while the local currency will be fixed at the prevailing rate. The proposal will bring price stability and certainty to the sector.’