Political analyst, Ken Yamamoto has said that bond notes are a scam. In an article on NewZimbabwe.com Yamamoto says that the bond notes are not Reserve Bank of Zimbabwe governor Dr John Mangudya‘s idea but Mugabe’s military-security people, commonly known as Joint Operations Command.
Yamamoto also reveals that Mangudya would need $300 million instead of the $200 million if his plan is to succeed, he writes,
Mangudya says that the bond notes are issued as a 5% incentive on exports. This means that you receive five cents for every dollar of invoiced and exported goods. Now simple math will tell you that if they give 5 cents for every dollar exported up to $6 billion, then Mangudya would need $300 million dollars which is $100 million more than he claims to be getting from Afreximbank.
He concludes that Mangudya is right from the beginning planning to overprint the bond notes beyond the claimed loan, based on his assumptions.