RESERVE Bank of Zimbabwe governor, John Mushayavanhu says fuel companies will soon be required to sell in the new currency, ZiG.

Previously, Mushayavanhu had stated that fuel dealers were not mandated to sell in ZiG, which raised concerns about a lack of confidence in the local currency.

However, in a recent interview with a local radio station, he clarified that fuel companies will eventually be compelled to charge ZiG because they will be paying taxes in the local currency.

This shift suggests a stronger push towards the adoption of ZiG within the fuel industry.

"We are in a multi-currency regime. There is nothing stopping selling their fuel partly in ZiG and partly in any other currency, If the fuel dealer is not selling the fuel in ZiG will find themselves in situations where they are looking for ZiG come June-July because they are also a taxpayer and they are supposed to pay 50 percent of their tax in ZiG. If they are not selling their product in ZiG where are they going to get the ZiG from?" said.

Having been introduced last month, ZiG has been off to the wrong start with many rejecting the currency preferring the US dollar for transactions.

However, Mushayavanhu is confident ZiG will strengthen against the greenback in the government's latest attempt to give life to the ailing economy.

"I have to warn them that when you get to June and July the rate for ZiG may strengthen such that they will actually be losing out. If I were a fuel dealer today I would start selling some of my fuel in US dollars because we are a multi-currency arrangement," added the governor.