FULL TEXT: NRZ To Rivert Back To 2018 USD Rates For Invoicing

NOTICE OF NRZ FREIGHT CHARGES REVERTING TO OCTOBER 2018 US$ RATES LEVELS WITH EFFECT FROM 01 JUNE 2019

The National Railways of Zimbabwe wishes to advise you our valued customer that the current unstable macro-economic environment which has affected all organisations by rising costs of key and critical components such as fuel, spare parts and labour has not spared us despite our endeavour to continue to provide you with a sustainable and predictable service.

To this end and in order to continue to sustain a reasonable service to industry and other consumers, we shall revert to the US$ rate that prevailed in October 2018 prior to the separation of Nostro and RTGS Accounts.

The freight rates may be paid either in hard currency or RTGS$ at the prevailing Inter-bank Rate at the time of processing of payment.

The US$ rate shall be used as the invoicing base and at the time of remittance, if payment is made in RTGS at the prevailing Interbank Rate, the payment will be converted to US$ for the purpose of crediting the customer’s freight account.

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For specific rates by commodity and route, our Regional Marketing Offices are ready to confirm the applicable rates which we believe you already have. Kindly feel free to contact our Regional Marketing Managers.

The freight rates for over-boarder traffic which are already denominated US$ will remain unchanged. The rate charges cited above affect local movements only.

All our conditions of service will remain the same and we are confident that our valued customers will benefit from this strategic thrust which brings in predictability that is essential for planning purposes.

Yours faithfully
ENG.LA. Mukwada
General Manager