Currency reforms need support of all Zimbabweans

The multi-currency system has been in operation since 2009 which means the country has been without its own currency for a decade. 

The removal of the multi- currency is meant to boost economic activity, eliminate speculative tendencies and bring relief to the majority of Zimbabweans who were being fleeced by businesses that were pegging prices of goods and services in US$ yet their salaries are in local currency. 

The success of the latest Government move is hinged on the discipline of the business community, professionals providing services and individuals.

There is a need for a buy-in from all Zimbabweans if the country is to crossover and enjoy the benefits of using its own currency. 

There are already reports of retail outlets that  increased prices of commodities by ridiculous margins soon after the announcement of the removal of multi-currency which in our view is a very retrogressive move.

There are some doctors that are now charging astronomical fees for their services as if to protest against Government decision to remove the multi-currency. 

It is such moves that work against Government efforts to turn around the economy. 

Zimbabweans, as we have said before, can only succeed in their endeavour to turn around the economy if they have a shared vision. 

President Mnangagwa said for the economy to take off, the country needed its own currency and that is what was introduced by Government last Tuesday and as already alluded to, this should be embraced by all Zimbabweans.

Government and the Reserve Bank of Zimbabwe have put in place measures to support the removal of the multi-currency and as already pointed out, it is important for Zimbabweans to sing from the same hymn book. 

The debate now should not be on why the country introduced its own currency because that is what is obtaining in other countries throughout the world. 

What Government and its stakeholders should be working on is to ensure that the key fundamentals needed to support the decision to depart from the multi-currency system on local transactions are maintained. 

Government on its part is also working on strengthening institutions to fight vices such as corruption that work against prosperity. 

Recently President Mnangagwa appointed the Zimbabwe Anti-Corruption Commission (ZACC) chairperson Justice Loice Matanda-Moyo who has vowed to decisively deal with corruption.

Justice Matanda-Moyo said she would leave no stone unturned in the investigation of corruption cases in order to rid the nation of the vice which is frustrating the country’s economic growth.