Talk-show host and producer, Zororo Makamba speaks on President Emmerson Mnangagwa’s government’s decision to ban the multicurrency system and reintroduce the Zimbabwe Dollar.
President Emmerson Mnangagwa has been sued over his government’s decision to reintroduce the Zimbabwe Dollar and abolish the multicurrency system. Businessman and losing presidential candidate Joseph Makamba Busha has lodged an application at the High Court seeking to have Statutory Instrument 142 of 2019 reversed. Part of Busha’s court papers filed by his lawyers, Tichawana […]
It seems that the reintroduction of the Zimbabwe Dollar and the abolishing of the multicurrency system will not fare well for tourists and customers of the hospitality and food industry. Some of the operators have raised their prices to abnormally high levels in the local currency as well as foreign currency, which would make it […]
Businessman and Zvimba South legislator (Zanu-PF) Phillip Chiyangwa has welcomed the abolishment of the multi-currency system, describing it as a genius move by President Emmerson Mnangagwa and Finance Minister Mthuli Ncube.
Economist and former MDC legislator Eddie Cross has said that the reintroduction of the Zimbabwe Dollar by the government was premature and hurried and may result in a destabilizing effect on the economy. Cross has been a supporter of President Emmerson Mnangagwa since the November 2017 military coup and has been supporting most of the […]
By Antony Sguazzin, Brian Latham, and Godfrey Marawanyika |REUTERS| For Zimbabwe’s government, the reintroduction of the national currency a decade after its demise is a return to “normalcy.” For most of the country’s citizens, it’s a bitter reminder of years of hyperinflation, which destroyed their savings and left them bartering for daily basics. “Remember 2008, when you […]
As a follow up to Statutory Instrument 142 of 2019, which reintroduced the local Zimbabwe Dollar as the sole legal tender and banned foreign currency for all local transactions, the government is reported to have banned cash withdrawals from all Foreign Currency (FCA) Nostro Accounts. The directive is reported to have been issued to all […]
Below is a receipt from a Spar supermarket in Bulawayo showing extremely high prices after the reintroduction of the Zimbabwe Dollar and the banning of all other foreign currency. Some of the prices have gone up by more than 100 percent.
President Emmerson Mnangagwa has explained the decision by the government to reintroduce the Zimbabwe Dollar and de-dollarise saying that US Dollar Pricing was the root cause of inflation. The President also said that it was necessary to do away with foreign currency as he wanted to return the country to normalcy. Writing on social […]
Speaking on the reintroduction of the Zimbabwe Dollar and the banning of all foreign currency, President Mnangagwa said that Zimbabwe’s economy has now returned to normalcy as a functional economy should have its own currency.