Is ZOL the latest victim of RBZ forex issues?

Posted by Read 34 Comments

ZOL may be the latest victim of RBZ as it joins a growing list of companies unable to access foreign currency to service operations and purchase equipment sourced from foreign vendors.

We have been alerted by some of our readers that ZOL has failed to complete installations of its fiber-to-the-home products over the last few weeks due to the unavailability of modems.

The customers claim that ZOL conducts all the necessary installation steps but goes silent when it comes to the final hurdle of installing the modem, this is after the client has already paid the ISP their first months subscription.  fullsizerender-1

Another source, who would like to remain unnamed, confirmed they had gone through the same process and after countless battles with its customer care was told that ZOL had purchased the modems, had the money deducted from its accounts but RBZ was failing to fulfill the forex  payment to its vendor. ZOL-Fibroniks

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The Source also claims to have been told that the RBZ was prioritizing ZESA and Fuel payments which are consuming all its forex reserves, so there is no set date when the ISP would have its payment cleared and receive the modems.

We reached out to ZOL but the ISP said they are not able to comment on the issue.

It is not surprising that the RBZ is failing to support ZOL after we learned of its 70% reduction of ZESA payments to regional suppliers yesterday. Also, if you have noticed most service stations do not have fuel in Harare CBD with most fuel attendants openly stating that RBZ hasn’t released the funds.

The unavailability of forex is starting to creep up on RBZ who may have sold the companies a dummy by promising a continuous flow of forex to meet their operational needs. However, they have now turned around and given priority to what they can only determine as a necessity.

 

 

 

 

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34 Comments

  1. kilotango says:

    we’re ALL victims of this RBZ “forex” issue

  2. izy says:

    powertel too don’t have dongles ,its sad.With the introduction of bond notes industry will totally collapse.The bad money will chase away all the good money.It’s going to be sad.

  3. MdcT says:

    You cannot rig the economy

    1. tinm@n says:

      Yes, but you very well can spend ZESA’s money to prop up Gideon Gono’s Solar company, TD Energy, that will supply power to the national grid.

      Our illustrious, highly successful, zero-to-hero, failure-is-not-an-option, sorely missed and Yowa Gahvhunah, Doctor Gideon Gono (http://www.herald.co.zw/gonos-firm-to-invest-80m-in-solar-project/ )

  4. Macd Chip says:

    “….ZOL may be the latest victim of RBZ as it joins a growing list of companies unable to access foreign currency to service operations and purchase equipment sourced from foreign vendors…”

    Is this the official position from Zol or its your speculation informed from unreliable sources. You want to be a respect publishing this story is right on the boarder line of reckless!

    You cannot base your argument from Zesa statement. We all know that all goverment parastatals are political groups who are there to play political games. If you dig who is who at Zesa you will easily see why they released such statement at this time just before the bond notes are released! Why was Zesa quiet all these past months?

    1. mwanamwana says:

      Zesa does owe power suppliers a bit of change, so it is easy for Zesa to point the blame of a possible load shedding era by blaming someone else….. But then again this is a blog of personal not proffesional opinions on the part of contributors.

  5. Batsirai Chikadaya says:

    – Let’s wait and see
    – I did not base my argument on ZESA
    – I am not a political commentator
    – If you have something to add, just add it

    1. Bangla says:

      At least somewhere in you article you should have something like “We called them and……”

      1. Batsirai Chikadaya says:

        what does this mean:

        “We reached out to ZOL but the ISP said they are not able to comment on the issue”

    2. mwanamwana says:

      What if there are new products that have been launched by hardware vendors, that is a possibility there mate. Who are ZOLs most favoured modem manufactures?
      Because all companies are facing some sort of difficulties making international payments with a few exceptions i guess, the exporting ones.

      1. mwanamwana says:

        We all could speculate for days on end…….

  6. Ndini Wenyu says:

    I agree with Macd Chip, This article is speculative and reckless. There is no official response from ZOL. Why is the author linking ZOL’s problems to RBZ and Forex? Many companies out there run out of stock all the time even before the country’s challenges.
    Earn some decency!!

    1. Batsirai Chikadaya says:

      Teach your customer support to not spill the beans next time buddy

      1. Macd Chip says:

        NSA does teach its employs, even enforce measurements to protect data leakage, but Snowden and a lot more still leak the infor.

        On the other hand, how do we know if your source is a real employ of Zesa, how do we know he/she isnt peddling rumours. These are things you need to consider before you publish.

        1. Batsirai Chikadaya says:

          You do a fine job of trying to discredit our sources, 10 house points.

          Your entitled to your opinion so I won’t bother arguing about that.

          1. Macd Chip says:

            The level of professionalism this story is telling shows how credible your sources are isnt?

            1. Batsirai Chikadaya says:

              I stand by my article and my sources, who, by the way, extend further than those stated here.

              If ZOL has any objection to this, they have my e-mail.

              Maybe you misinterpreted this article as an attack on ZOL? They are VICTIMS, and that is what we are highlighting here, as the title clearly suggests

              1. Tipa says:

                who is the actual victim – ZOL or your sources? ZOL does not deliver its promise to customer and you call them a victim? Come on

            2. mwanamwana says:

              Shots fired……

  7. Anonymous says:

    Yowe

  8. Solomon Harudzibwi says:

    Are these guys from RBZ? The way they are being defensive , iyoooo
    Now wait and see , what will happen as soon as the bond gets into circulation

    1. Macd Chip says:

      If you are refering to me, lm not from RBZ, you see, this is why Zimbabwe never grow. The mentality of them against us will get you nowhere.

      If you look around carefully around you can easily track me and even find where l work, so grow up and learn to accept criticism!

  9. Anonymous says:

    Lets not be in denial and defensive.

  10. Batsirai Chikadaya says:

    Guys, the ZESA story is a completely different article altogether, If you have any views and opinions on it kindly comment on the actual article for the sake of other readers who may benefit from the vast information you hold.

  11. tipa says:

    “Another source, who would like to remain unnamed, confirmed they had gone through the same process and after countless battles with its customer care was told that ZOL had purchased the modems, had the money deducted from its accounts but RBZ was failing to fulfill the forex payment to its vendor.”

    Your source is a customer? And ZOL employees were happy to dish out info on who is behind their problems. Maybe I should also give them a call, and maybe they may be careless with some internal data

    1. Batsirai Chikadaya says:

      Maybe you should

      1. Tipa says:

        On a more serious note: when will you admit that you are journalists who are responsible for publishing factual information. We demand facts not speculation!

        1. Batsirai Chikadaya says:

          – Have you ever heard of a saying : Where there is smoke there is fire?

          – You only accept speculation that fits into your perception of reality, and that is wrong.

          – At this point, ZOL is well equipped to refute our claims, so as I said before, I stand by what I said and my sources, they have my e-mail.

  12. IV says:

    ZOL is a running a dishonest business. They advertise one thing and their employees say another thing. Example is their $29 package: adverts make you believe the service is available in waterfalls but if you go to their offices it is a different story. They are their own enemies and they start pointing the finger at RBZ

  13. Batsirai Chikadaya says:

    Ladies & Gentleman, I will not be commenting any further.

    We value all your comments, views and opinions, This is what I write for, to engage and provoke people into conversations, sometimes I am wrong sometimes I am right, but from now on when I know I am right I will defend my work from any detractors.

    I view comments as more important than the story, I am just 1 person and you all are the world, information is in the people.

    So please continue to comment on everything we do, let’s engage and create a healthy and well-informed body of knowledge.

    Good Day to you all.

    1. guyu says:

      well you dont like criticism at all, and you are always right!

  14. justin says:

    All those criticising the article need to get their heads examined.
    The author has sources, if the sources are wrong or right, you the keyboard warrior can never tell unless you have inside info on the matter!
    Grow a brain

    1. Macd Chip says:

      getting a bit a motional here! I also have sources which told me he is totally wrong, mine told me its politics at play. How can Zesa have money to pay the diesel generated electricity which is expensive but fail to pay the cheaper electricity from Moza or SA

  15. we says:

    iwell speaking abt a few companies I spoke to rbz international transfer s aren’t moving most are handing in cash and only ha ing their payments processed after 2 or so months . no smoke with out fire

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