Zimbabwe Cross Border Traders Association (ZCBTA) president Dr Killer Zivhu urged Government to adopt the South African rand as its main currency instead of the United States dollar.
Zivhu said the bond note is no longer sustainable and urged Government to appeal to South Africa to join the Rand Monetary Union. He also said the lifting of the import ban is ineffective because people do not have foreign currency. Said Zivhu:
Honestly, you can’t buy your goods in rand and come and sell them in bond notes. It’s no longer sustainable to use a bond. It’s no longer sustainable to use electronic transfers. Right now the most essential shop that we don’t want to see closing is a pharmacy. But all pharmacies are now selling their products in US dollars. And if in any case they charge you in bond notes, they will put a mark up for cross rates obtaining on the black market. The South African Minister of Foreign Affairs (Lindiwe Sisulu) came out saying they are ready to help Zimbabwe anytime if they are called to do so. It’s time to send the signal to South Africa that we need the rand and we want to make the rand our major currency in the country.
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Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes