The Governor of the Reserve Bank of Zimbabwe, Dr John Panonetsa Mangudya has released a list of beneficiaries of the central bank’s foreign currency auction system. He also outlined how and where the forex was allotted. Pindula News presents Mangudya’s statement:
FOREIGN EXCHANGE ALLOTMENTS UNDER THE FOREIGN EXCHANGE AUCTION SYSTEM AND FOREIGN EXCHANGE PAYMENTS FOR THE PERIOD JANUARY 2021 TO DECEMBER 2021
In line with the Bank’s commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby publishes the following:
1. A list of the 2 037 beneficiaries of US$1 645 427 941 allotted under the Main Foreign Exchange Auction;
2. A list of the 5 288 beneficiaries of US$326 018 895 allotted under the SMEs Foreign Exchange Auction; and
3. A schedule showing the total foreign exchange payments by source amounting to US$6 730 965 540 broken down as follows: –
(i) foreign currency accounts (US$4 449 900 326),
(ii) the Foreign Exchange Auction System (US$1 971 446 836); and
(iii) the interbank market (US$309 618 378).
From the inception of the Foreign Exchange Auction System on 23 June 2020 to the end of December 2021, an amount of US$2 596 380 813 was allotted to the key sectors of the economy with US$2 238 180 267 being allotted through the Main Auction and US$358 200 546 through the SMEs Auction.
The bulk of the funds allotted in 2021 (62%) went towards payment for raw materials (US$777 250 614) and machinery and equipment (US$444 979 034) and US$749 217 188, representing 38% of the total allotments, going towards payment for consumables, pharmaceuticals and other needs of the economy as reflected in the tables below.
John P Mangudya Governor
30 December 2021
| Month | Foreign Currency Account (FCA) | Interbank Market Payments | Foreign Currency Auction Allotments | Total |
| Jan-21 | 310,456,607 | 24,276,155 | 99,194,883 | 433,927,645 |
| Feb-21 | 481,620,748 | 37,049,364 | 147,216,349 | 665,886,462 |
| Mar-21 | 367,394,138 | 52,958,997 | 178,876,453 | 599,229,588 |
| Apr-21 | 242,140,242 | 29,558,900 | 128,056,464 | 399,755,606 |
| May-21 | 301,288,223 | 29,713,430 | 159,699,141 | 490,700,794 |
| Jun-21 | 366,490,525 | 27,953,907 | 207,003,995 | 601,448,427 |
| Jul-21 | 379,011,505 | 25,027,355 | 185,720,760 | 589,759,620 |
| Aug-21 | 340,889,557 | 19,911,086 | 236,874,671 | 597,675,314 |
| Sep-21 | 490,336,111 | 29,221,093 | 158,898,808 | 678,456,013 |
| Oct-21 | 465,909,508 | 13,530,327 | 171,241,942 | 650,681,776 |
| Nov-21 | 430,111,945 | 12,786,835 | 216,065,135 | 658,963,915 |
| Dec-21 | 274,251,216 | 7,630,928 | 82,598,235 | 364,480,380 |
| Total | 4,449,900,326 | 309,618,378 | 1,971,446,836 | 6,730,965,540 |
| Proportion | 66% | 5% | 29% | 100% |
| FOREIGN EXCHANGE AUCTION SYSTEM | ALLOTMENTS | BY PURPOSE | FOR THE YEAR | 2021 (USD) |
| Purpose | Main Auction | SME Auction | Total | Share (%) |
| Raw Materials | 693,453,476 | 83,797,138 | 777,250,614 | 39% |
| Machinery and Equipment | 355,594,113 | 89,384,921 | 444,979,034 | 23% |
| Consumables (Incl. Spares, Tyres, Electricals) | 132,385,258 | 62,568,632 | 194,953,890 | 10% |
| Retail and Distribution (Incl. Food, Beverages, etc) | 149,126,291 | 30,071,046 | 179,197,338 | 9% |
| Pharmaceuticals and Chemicals | 108,893,679 | 17,091,471 | 125,985,150 | 6% |
| Services (Incl. Education Loans, Dividends and Disinvestments) | 98,164,980 | 25,948,125 | 124,113,106 | 6% |
| Fuel, Electricity and Gas | 71,819,717 | 7,373,459 | 79,193,176 | 4% |
| Paper and Packaging | 35,990,427 | 9,784,103 | 45,774,529 | 2% |
| Total Allotments 2021 | 1,645,427,941 | 326,018,895 | 1,971,446,836 | 100% |
| Total Allotments 2020 | 592,752,326 | 32,181,651 | 624,933,977 | |
| Grand Total (2020 2021) | 2,238,180,267 | 358,200,546 | 2,596,380,813 |