Addressing a Zanu-PF rally in Shurugwi yesterday, Vice President Constantino Chiwenga said Government will reintroduce the Zimbabwean currency at an appropriate time. He noted that the cash crisis was because Zimbabwe does not have it own currency.
We are all aware that we are using foreign currency (as a transaction currency) in this country. We do not have our own local currency like other countries. The cash crisis that we might be facing now is emanating from the multicurrency system because the money is not ours. As Government, one of our main objectives is to reintroduce our own local currency. This, however, will not happen overnight. Government will first stabilise the economy, open factories and manufacturing companies and ensure development.
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Chiwenga’s comments come after Zanu-PF Representative in the United Kingdom and Europe, Nick Mangwana confirmed that Zanu-PF is working on introducing a local currency backed by gold.
Guveya Dominic Nyikadzino Chiwenga is the Vice President of the Republic of Zimbabwe, the second secretary of Zanu-PF political party and the former Minister of Defence and War Veterans Affairs. He is also the former Commander of the Zimbabwe Defence Forces (ZDF) and also the... Read More About Constantino Chiwenga
Shurugwi formerly Selukwe is a Town located in Midlands Province in Zimbabwe. It is 350km away from Harare and 37km SE of Gweru. Shurugwi was established in 1899 on Selukwe goldfield, which itself was discovered in the early 1890s not long after the annexation of... Read More About Shurugwi
Zimbabwe African National Union - Patriotic Front (ZANU PF) is a liberation war movement/party that has been ruling Zimbabwe since the country attained its independence in 1980. The party's main agenda was to liberate the country from the bondage of settler regime led by Ian... Read More About Zanu-PF