Staff Reporter

Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, last Saturday, stressed that the domestic currency was there to stay as it was one of  Government key pillars in conducting proper macro management of policies.

He made the remarks while responding  to questions from members of the media, during a summary briefing on events of the on-going United Nations Economic Commission for African Ministers of Finance and Economic Development being held at the Elephant Hills Resort, in Victoria Falls.

"Clearly we have an obligation to support the use of domestic currency. In our policies that we will announce, there will also be policies that will promote the use of domestic currency."

He added that certain quarters of the private sector have benefitted from the use of domestic currency. He said the use of domestic currency is constant and will always be there.

Minister Ncube further highlighted that using domestic currency has helped manufacturers to become competitive.

 He mentioned that the cooking oil sector had benefitted from using the local currency adding that the sector was a direct product of Government's currency reforms since 2019, which had seen a significant growth of the industry.