The Government is intensifying efforts to close the long-standing trust deficit around the use of a currency by strengthening policy consistency, legal certainty and engagement with the private sector, Deputy Minister of Finance, Economic Development and Investment Promotion David Mnangagwa has said.
He was speaking during a plenary session at the Zimbabwe Economic Development Conference (ZEDCON) 2026 in Bulawayo on Wednesday, 30 September.
Mnangagwa said policymakers needed to speak with one voice on currency issues to rebuild confidence among businesses and the public.
“Each time we discuss the trust deficit, especially around currency, it is important that everyone in a policymaking position speaks to it so that it is clear we are saying the same thing,” he said.
He warned that unresolved mistrust could persist for generations if not addressed.
“What this means is that the trust gap, if not dealt with, can linger for generations. Whatever hysteresis is still there, we need to deal with it continuously,” he said.
“How we have sought to bring clarity is by ensuring that the policies governing currency management and everything around it are enshrined in law.”
Mnangagwa also sought to clarify Zimbabwe’s potential transition to a mono-currency regime, saying it would be conditions-based rather than tied to a fixed date.
“The Governor has consistently described in his monetary policy statements the conditions that would need to be met for us to move to a mono-currency,” he said.
He said existing US dollar-denominated contracts will remain valid even after those conditions are met.
“Any contracts that have been signed now and are denominated in US dollars will continue to be honoured in US dollars when a mono-currency prevails,” he said.
The timing of the transition, he added, will be determined by economic conditions, not an announced deadline.
“The ‘when’ is not defined by a particular date, but by certain conditions that, for the ordinary Zimbabwean, will happen without them realising they are now in a mono-currency,” he said.
The objective, he said, was to create conditions where users no longer suffer a loss of value when switching between currencies.
“We want to deal with the trepidation the private sector has had in the past not through denialism, but through continuous engagement,” he said.
More: The Herald
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