PRISCA MANYIWA-MASUKU
MIRROR REPORTER

KWEKWE – Kwekwe City Council is set to scrap of a five % interest on bills exceeding three months in its 2025 budget because the ZWG currency is stable, Mayor Albert Zinhanga has said.
He told journalists during a press conference held at council last Tuesday that council will not be prejudiced because of the currency’s stability.
“The five % interest has been there for the previous two consecutive budgets and it’s charged on someone who hasn’t paid their bills for three consecutive months. It was introduced during the RTGS era in order to maintain the value of the money since the currency was not stable.
“However, with the coming in of ZWG which appears to be more stable than the RTGS we have decided to rescind it. We have two options, one is to submit our intention to the Minister that we now want to rescind the 5% interest from our 2024 budget and this can take us three months to get the Minister’s response and the second option which is the best option is to rescind the 5% from our 2025 budget,” said Zinhanga.
The development comes after Kwekwe Residents and Rate Payers Development Association threatened to sue the council over the interest charge.