Hwindi Starts Quoting Prices In US Dollars But You Can Still Pay In Zim Dollars

Alvine Chaparadza

23 September 2019

Hwindi has just introduced a pricing structure. From now on, the ride-hailing start-up quotes it’s prices in USD but the rides will be payable in Zim Dollars. To introduce the the pricing structure, Hwindi took advantage of a provision in the Public Procurement and Disposal of Public Assets Act that allows businesses to quote prices using a “stable currency” and then get paid with the only legal tender, which is Zim Dollar.

Essentially, your bill for a Hwindi ride will be presented in US Dollars but when it comes to paying it up, you will use Zim Dollars. The amount paid in Zim Dollars will be determined by the prevailing rate of exchange of USD to Zim Dollars on the interbank market. For instance, if the Hwindi app tells you that your journey cost $4 US Dollars, using Agribank’s today’s rate of $14.251 per US Dollar, you will pay ZWL $57.

This new pricing structure allows Hwindi to sidestep the hussle of having to tweak it’s prices every now and then as US Dollars’ value is more stable than Zim Dollars.

Also read: Hwindi Now Makes It Possible To Order A Ride Via WhatsApp

Transportation

13 comments

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Phidza

23 September 2019 14:03

Can someone from Hwindi or someone knowledgeable explain to me why Hwindi would quote their prices in USD yet they neither export nor import? Why not just periodically adjust prices as fuel prices are adjusted?

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1. Kwanai
  
  23 September 2019 14:27
  
  The ignorance in the comment section is often exhausting
  
  Reply
  1. The King
    
    23 September 2019 15:23
    
    If you don’t have an answer you can just keep quiet. A genuine question was asked there. You accuse others of ignorance but fail to provide enlightenment to the accused. You are poor financially and intellectually.
    
    Reply
  2. T
    
    23 September 2019 16:54
    
    Another retarded Hwindi employee
    
    Reply
    1. Patrick
      
      24 September 2019 09:58
      
      Ita mushe.
      
      Reply
  3. The Principal
    
    23 September 2019 20:09
    
    You do not grow taller by chopping off other people’s feet. Yes you shot down the question to appear intelligent but then you did not give your side of the story. Remember, YOU are also ignorant on some issues, NOBODY knows everything, coward.
    
    Reply
2. Patrick
  
  24 September 2019 09:50
  
  We have been periodically changing our prices and our customers are not happy with it. They can not budget properly. Here the key thing to take note of is; WE ARE QUOTING IN USD JUST FOR STABILITY BUT THE PAYMENT IS STRICTLY IN RTGS/ZWL$. Yes we neither export nor import but all our cost are 99% forex. We have intergrated features fees (Google maps, Pubnub, Twillio, Mailgun, etc), licence fees, hosting fees, support fees that are all paid in USD monthly then our vehicle partners have all spares that are in USD. Kaguvi is still USD and the rtgs option is expensive. The only cost that is in ZWL$ is airtime and DATA otherwise fuel is USD based and paid in ZWL$ at the weekly prevailing rate. “neither export nor import” We deal with a lot of tourist and as such we are registered as a ‘Designated Tourist Facility’ and I am still to find out if we are allowed to recive USD from them as we recently received an update ; the new Tourism Regulations S.I 191 of 2019 which stipulate that we are to pay levies in the currency we received it so am not sure if we are allowed to accept USD and remit it the proper channel.
  
  Reply
  1. The King
    
    24 September 2019 13:34
    
    Thanks for the explanation. I’m just wondering if you can cut PubNub, Twillio and Mailgun costs by developing your own implementations(e.g direct integrations with providers like Econet and NetOne) instead of buying. Could you also not host locally and pay in local currency? Fuel and spare parts are understandably costs out of your control.
    
    Reply
Chris Mberi

23 September 2019 17:51

Can anyone do this? What is ‘Public Asset’ according to the act? If anyone understand law or can provide a link to the act itself, I’d be happy to read. Otherwise I feel its a clever idea, because keeping watch rates is stealing time from core business.

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1. Anonymous
  
  24 September 2019 04:24
  
  As a small business owner, I support Hwindi’s decision to price in USD however the regulation they are using to justify it is completely irrelevant. The Public Produrement and Disposal of Public Assets (PPDPA) regulations!!?
  Further to that, the only document in the public domain is the PPDPA Act which has no such section 20(1)f. Link to the act below
  http://www.veritaszim.net/node/2157
  
  Team Hwindi, please do what you have to to survive in this economy, it’s tough out there. If you sought legal advice on this, fire them. I suspect though that you knowingly put out that BS about PPDPA hoping nobody would follow up. We respect your decision but don’t disrespect us with the misleading legal BS.
  
  Reply
  1. Patrick Manyangadze
    
    24 September 2019 05:12
    
    http://www.veritaszim.net/node/2157
    
    This link takes you to August 2017 edition. Go to Printflow and collect the latest act.
    
    Reply
2. Patrick
  
  24 September 2019 09:54
  
  Page 58 of the SI 5 of 2018, Its more to do with Government departments but can touch a bit on the private sector.
  
  Please get a copy from Government Printers- Printflow along Jason Moyo between 3rd and 4th street. I can find it online so got the hard copy.
  
  Reply
Patrick

24 September 2019 10:03

Heading was supposed to read.

Hwindi Starts Quoting Prices In US Dollars But You Pay ONLY In Zim Dollars

Reply