Controversial Ntabazinduna chief Nhlanhla Ndiweni says that Zimbabwe should adopt the South African Rand as its official currency to have a lasting solution to the current currency woes.
The chief was speaking to the Daily News in a wide-ranging interview. He urged fellow countrymen to learn to play the Chinese game when it comes to manipulating currencies. He said:
If we wish to engage in production and trade then we need the rand and if we want to specialise in the service industries then we need the USD.
The rand enables us to be competitive and the more it falls the better because that means that our production cost base per unit also falls.
Let us also play the Chinese game whereupon they like to devalue their currency to make themselves the cheapest producing nation.
We would rather have our team of negotiators camped in Johannesburg or Pretoria for four or eight solid weeks thrashing this out.
It can be done, only if our negotiators are given the free reign and are not controlled by political ideology from the politburo. In these negotiations, nothing is sacred because the country is on the floor.
President Emmerson Mnangagwa revealed on Friday that Zimbabwe was ready to adopt the Rand in 2008 but was put off by South Africa’s demands.
Zimbabwe expected to get the Rand with no strings attached by South Africa insisted on certain conditions being met by Harare and talks broke down as a result.