Nomalisa Musasiwa has refuted the reasons given by Zororo Makamba in support of the return of the Zimbabwe Dollar. Makamba’s video has been played several times on ZBCtv without any rebuttal or criticism.
Watch Musasiwa’s video below:
https://youtu.be/ItHRX3JM90Q
her analysis is very shallow
The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union. It is allied to the Southern African Customs Union (SACU).
The main purpose of this trade is that all of the parties can have the same development and equitable economic advance so they can be treated as a whole.[citation needed]
Although the South African rand is legal tender in all states, the other member states issue their own currencies: the Lesotho loti, Namibian dollar and Swazi lilangeni. However, these are exchanged at par with the rand and there is no immediate prospect of change. Foreign exchange regulations and monetary policy throughout the CMA continue to reflect the influence of the South African Reserve Bank.
even with the adoption of the south African rand we still need our own currency
I am not sure that she has any solution different from Makamba’s. If anything she strengthens his position since Mthuli has already begun to implement a lot of the reforms she recommends. Realistically everything cannot be done on day 1 and clearly the so called multi-currency (read US$) regime had become unsustainable so something had to be done – and was.We just did not have the luxury of time to get all our ducks in a row! I agree with her however that the land is our most valuable and sustainable resource. If we could sort that out that will cure a lot of our ills. As it is we have reduced the value of Zimbabwe from a multi-trillion dollar asset against which to leverage investment and development to dololo.