Schools Reject ZiG Payments
Schools are refusing to accept the recently introduced Zimbabwe Gold (ZiG) currency and demanding payment of full fees in foreign currency.
ZiG has been widely accepted by major supermarkets but the government’s failure to compel fuel service stations to sell their products in the local currency will be used to justify the rejection of the structured currency by some service providers.
ZiG is circulating in a basket of currencies, and therefore a legal tender but citizens cannot apply for passports using the local currency.
According to The Manica Post, this week most schools in Manicaland Province were turning away parents and guardians who wanted to pay fees and levies in local currency.
The schools were claiming that they were yet to synchronise their transaction systems with the new ZiG currency.
The claim, however, does not make sense as most fees are paid through banks whose systems have already been configured and calibrated to the new currency.
Some of the schools were advising parents that they will only accept the new currency when they reopen. This is the same strategy they used during the RTGS era, hoping that the interbank bank rate would have gone up.
Parents who were making payments in foreign currency were readily served.
The Manica Post further reported that boarding schools in the province were demanding fees and levies exclusively in foreign currency.
Director of communications and advocacy in the Ministry of Primary and Secondary Education, Taungana Ndoro reiterated the Government’s position that parents have the freedom to pay in a currency of their choice (forex or ZiG). Said Ndoro:
As schools prepare to reopen on May 7, 2024, the Ministry of Primary and Secondary Education would like to reiterate an important policy regarding school fees payment.
According to Secretary’s Circular No. 10 of 2022, Government’s position is that school fees should be paid in the local currency, which is now referred to as ZiG.
It is essential to note that no school should compel parents to pay fees or levies exclusively in foreign currency as Zimbabwe operates under a multi-currency regime. Parents have the freedom to pay in a currency of their choice.
In cases where fees are pegged in foreign currency for value preservation purposes, parents can make their payments in the local currency at the prevailing interbank rate of the day of the transaction.
This ensures that the fees are appropriately converted into any currency equivalent. The Ministry of Primary and Secondary Education emphasizes compliance with this policy to ensure fairness and flexibility in fee payments for all parents and guardians.
More: Pindula News
