Low-cost airline Fastjet Zimbabwe on Monday, 22 April, announced that its customers could now pay for their flight tickets using the Zimbabwe Gold (ZiG) currency.

Fastjet Zimbabwe, with routes from and to Johannesburg in South Africa and local routes from Harare to Bulawayo and Victoria Falls, announced the development via its social media pages. It said:

We now accept ZiG payments for your travel. Book now via the fastjet app.

The Reserve Bank of Zimbabwe (RBZ) introduced the ZiG currency on April 5 with businesses, especially supermarkets, recording a huge jump in daily sales.

The currency is backed by gold, which means its value is tied to the precious metal.

Zimbabweans were given 21 days to exchange their old, inflation-affected Zimbabwe dollar banknotes for the new ZiG currency.

However, the US dollar, South African Rand and Botswana Pula account for over 85% of transactions and will continue to be legal tender.

The RBZ’s Financial Intelligence Unit (FIU) has launched a blitz targetting businesses accused of trading exclusively in US dollars and refusing to transact in ZiG. FIU says it has has frozen bank accounts of 11 companies since the launch of ZiG.

However, fuel dealers have been granted permission to sell their products exclusively in forex, and this selective application of rules threatens to erode confidence in ZiG.

More: Pindula News