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RBZ governor pleads with MPs to market ZiG in communities 

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By Staff Reporter


RESERVE Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has appealed to Members of Parliament (MPs) to educate communities on the newly introduced currency, Zimbabwe Gold (ZiG).

Whilst responding to questions tabled by MPs from the Budget and Finance as well as the Industry and Commerce joint committee in Parliament last Tuesday, Mushayavanhu urged parliamentarians to go and sell the new currency to their respective constituencies.

The ZiG is already circulating on the market electronically while the hard currency will be on the market on April 30, 2024, according to the apex bank boss.

“We are running a perception survey on ZiG. Just to say what is your understanding of ZiG. Are you going to accept it and use it in your business. You can also, when you go back to your constituencies give them the QR Code so that we have an understanding of what Zimbabweans think of the new currency.

“That will tell us how much they know about the currency and how much they lack regarding the new currency,” Mushayavanhu said.

His appeal was, however, met with mixed feelings by the committee members.

Zanu PF members applauded the governor for the appeal, but opposition legislators did not receive the news well and dismissed Mushayavanhu.

Harare West MP Joanna Mamombe accused the governor of failing to consult lawmakers before introducing ZiG

“I just want to highlight on what the governor has said on members to be ambassadors. This is quite unfortunate that he now wants us to be ambassadors of ZiG, yet in the first place he was told he was going to be the governor on September 11, 2023.

“There was never any consultation with the same members of Parliament that he wants now to ZiG ambassadors. This is the first point you raised Hon. Chair (Clemence Chiduwa Zaka East MP).

“Are we part of the critical stakeholders as MPs. If we are, why did the governor fail to appear before the Budget and Finance committee to then consult us, than to ask at the tale-end of the processes. We represent the people and now you want us to be involved when we were not part of this process,” Mamombe asked Mushayavanhu.

But the governor responded, “I officially became governor on March 28, 2024. If I had come to you on the 15th of September, you would have said to me, who are you?

“But I was able to interact with those in the society whom I was close to, and they would not ask me in what capacity I made those consultations,” replied the governor.

He added, “lt was unfortunate that Hon. Mamombe, as representative of the people, you do not want to be an ambassador of an important groundbreaking introduction of a currency, then who is going to be the ambassador?

“My understanding is that, as Members of Parliament, you are the link of the people to the central bank and government. As such, you are the best people to explain to them and make sure they do not get to be exploited.

“My plea is for you to give them correct information. When you speak to them, who will protect them from getting fake notes when their goats are taken away by unscrupulous people? It is okay if Hon. you do not want to do it but others will do it.”

Chiduwa had to calm down the situation before it exploded.

“Hon. Member (Mamombe), we do not need some exchanges, I think the answer given by the governor was enough.

“The success of this country requires a multi-stakeholder approach,” Chiduwa said.