Mangudya warns cash burners ahead of bond notes

Posted by Tayana

Dealers that have set up companies to “burn” cash have been cautioned ahead of the coming of the bond notes in November.

Speaking at the Zimbabwe National Chamber of Commerce (ZNCC) breakfast meeting in Harare yesterday, Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya said,

Some of you think you are going to ‘burn’ the bond notes. The dealership mentality does not build a country. That’s why I become emotional when I am talking about this issue. In fact, we are issuing a statement on Friday (today) or Monday to warn those who are opening companies to externalise currency. We know the people behind it.

Mangudya said the features of the $2 and $5 bond notes would be unveiled during countrywide campaigns by the central bank which begin on Monday.

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