Government releases statutory instrument on bond notes

Government has gazetted the statutory instrument on bond notes. The statutory instrument is meant to clear any legal hurdles before their imminent introduction.

In September the Constitutional Court ruled that it was premature for Joice Mujuru to legally challenge the introduction of bond notes, as the government had not yet crafted an enabling law to operationalise the currency.

Mujuru, through her lawyer, Lovemore Madhuku, who was instructed by Gift Nyandoro, argued that government’s plans to introduce bond notes were an infringement on her constitutional rights.

But, in its determination, the ConCourt said there was no indication that the government intended to introduce the bond notes without an Act of Parliament or a statutory instrument, which, if found to be in violation of the country’s laws, would be subject to a court challenge.

More: Nqaba Matshazi on Twitter

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