MP says Zimbabwe must enforce use of bond notes by Asian community, especially the Chinese

The RBZ Governor in his Mid-term Monetary Statement, alluded to the fact that, of the 684 million produced in terms of gold Mr. Speaker, 40 – 60% of that was produced by small scale and artisanal miners. These people are not well documented. Also, in his Mid-Term Monetary Statement at some point, the Minister of Finance and Economic Development alluded to the fact that there was more than 500 000 of these artisanal and small scale miners. These are the people that are bringing in the gold, which gold we are exporting in order to introduce the bond note. This Mr. Speaker, is an abstract way of looking at it.

We need to be forward thinking and see exactly where we are coming from, where we are and where we are going. These are the people that if they continue to be disenfranchised, then the nation will be at a standstill. How do I propose that the 5% export incentive gets to be paid to these people because they are scattered all over in terms of their modus operandi. They are also not well-documented. If these people are not paid their 5% export incentive, what is going to obtain is that the money which is supposed to be paid to these people who are a pillar in terms of the economy of this country, it is going to be pilfered and engaged in illicit outflows by Fidelity Printers officers. These are the people that are buying that gold from artisanal miners, aware and cognisant of the fact that they do not come back to claim that money; aware and also cognisant of the fact that these people do not have the requisite accounts where this money can be paid into. They can pilfer that money using other means that are sophisticated.

Mr. Speaker Sir, what I also need to put in as a second proposal is that there are bus operators that currently carry a lot of passengers into Zimbabwe which request foreign currency for the payment of fares into Zimbabwe. As long as the receipting of that money is well-documented, I ask that the Minister of Finance accept those receipts and monies banked in local banks for those bus operators who would have imported US$ through passengers and through physical cash which is in foreign currency form. I ask that this be considered as an export oriented approach so that these people also qualify for a 5% export incentive that is paid in the form of bond notes.

 These were the two proposals that I had and I now call for the enforcement of the usage of these bond notes. There has not been acceptance from the Asian community, in particular, the Chinese Mr. Speaker Sir. They have not gotten into a position of accepting bond notes as a legal form of tender in terms of cash. They will still sideline bond notes and only accept US$. As long as they are in Zimbabwe, it is accepted that the Minister of Finance is the overall in charge in terms of finances.

I ask now, therefore, that he enforces the usage of these bond notes in the Asian community and also, whilst I am at it, that he enforces that all the Asian community be bankable. They should then take our bond notes and US$ into financial institutions which is also aligned to the introduction of this Bill. He should also introduce a law that forces everybody to be bankable so that we can embrace plastic money and technology, in particular our Asian community that is not bankable. Mr. Speaker, I want to take this opportunity to thank you for giving me this opportunity to debate undisturbed, unequivocal, effectively and efficiently with a voice that is going to make sure that this law is introduced.

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