RBZ gives update on amount of bond notes currently in circulation

The Reserve Bank of Zimbabwe (RBZ) released a press statement saying that as of December 2016, 72.9 million bond notes had been released through the export incentive scheme with major beneficiaries being the tobacco growers ($29.4 million), gold producers ($10million) and diaspora remittances ($5.4 million).

Said the RBZ:

The Reserve Bank of Zimbabwe (‘the Bank’) is pleased to advise the public that as at 31st December 2016 the Bank had paid the export incentive to 80% of exporters of goods and services including diaspora remittances through the issuance of bond notes in the sum of $72.9million. This is in line with the Bank’s projection of bond notes that should have been issued during this period under the Export Incentive Scheme. The major beneficiaries under the Export Incentive Scheme so far are the tobacco growers ($29.4 million), gold producers ($10million) and diaspora remittances ($5.4 million).

The RBZ also noted that plastic money and electronic banking now accounts for 50 -70% of sales.

You can download the press statement here