Dorcas Rumano

Citizens have welcomed the decision by Government to scrap the use of multi-currency and introduction of the Zimbabwe dollar through Statutory 142 of 2019, saying the move will stabilise the pricing system on the local market.

Businessman and member of the Presidential Advisory Committee, Dr Shingi Munyeza tweeted on his official Twitter handle that through Statutory 142, the parallel market is expected to stabilise or even come down. He also said prices of commodities were expected to stabilise and later fall due to the use of mono-currency.

Independent Norton legislator, Temba Mliswa hailed Government’s decision on the issue of local currency saying, “Good, long overdue move by Reserve Bank of Zimbabwe. The corrupt have had their day, let’s get back to fundamentals and country building. Once people don’t need foreign currency, it will reduce pressure on it so it may be apportioned to production. It’s an ace card required to move the economy.”

Alpha Media Holdings Chief Executive Officer, Trevor Ncube said he believed that the nation was moving in the right direction following the recent announcement that all local transactions are now done using the Zimbabwean dollar.

Ncube tweeted that, “Do Zimbabweans really know what they want? Sometimes I do wonder. Me I want our own local currency. We are firmly in the right direction.”   

An economist, Vince Musewe tweeted, “I fully support the move from multi-currency to Zimbabwe dollar. As I have continually said, no country can ever develop without own currency. What matters now is pumping up local production reducing reliance on imports and re-pricing and ensuring the interbank market operates efficiently.”

The Government of Zimbabwe, on Monday abolished the use of foreign currency for local transactions. Minister of Finance and Economic Development, Professor Mthuli Ncube said the march towards full currency reform was part of the Transitional Stabilisation Programme.