ZiG is my currency, your currency, everybody’s currency-FinMin

On purchase of goods and services in ZiG, this is similar to the question from Hon. Chiduwa. My answer is similar, which is that in the fullness of time we will announce specific services that can be purchased in ZiG as we seek to promote the demand for our local currency. The statement is coming. If I can request the indulgence of Hon. Matewu and this will be announced. We want you to pay some of the services you mentioned in ZiG. Just be patient with me and we will make the announcement sooner.

I now turn to Hon. Zhou who wanted to really make sure we do not leave anyone behind when it comes to educating the public about this new currency. People in rural and urban areas must feel that they are receiving adequate information on how this new currency works. I want to assure Hon. Zhou that we are going to do everything to make sure that this is the case. Putting in place a blitz campaign between the Ministry of Finance, RBZ and Ministry of Information, this communication seeks to do that, which is to educate the public and give them the necessary information on how ZiG works. As Government, we would want this to be acceptable that citizens have got confidence and you can only build that confidence if you communicate and explain how it works in simple language.

I was suitably impressed seeing some video that was recorded which went viral and is explaining ZiG in very simple language in Shona. I thought this is exactly how we should be communicating to the public out there about the design of such a currency. It is that type of communication that we want to promote, especially in our rural folk to ensure that they gain the confidence in this new currency, understand how it works and they are not left behind.

Hon. Zhou also mentioned that there were some issues in terms of pricing just prior to the introduction of the currency. Some prices were pushed up and will this not affect the operation of the ZiG well, we will take a look at these issues to see what is happening here.  In fact, I am already aware of a situation where some retailer of bread for example; prior to the introduction of ZIG, a loaf of bread was trading for US$1, the price of a dollar in ZIG is 13.56, but the price of bread was rounded off to 14.  There should be no rounding off as it is not a good idea.  That is a price increase and means that the bread is now $1, 3c or 5c as opposed to just $1.  So, we are quite aware of this issue and we are following up with some of the companies to do a proper translation and not to round up, which is contributing to a price increase.  So, I agree with her, it is a statement well-made and we are following up on that.  I thank you for the question.

HON. TOGAREPI:  I move that the debate do now adjourn.

HON. HAMAUSWA:  I object.

HON. MATEWU:  On a point of order Madam Speaker. Yesterday I raised a point of national interest and the Speaker agreed that all my questions would be answered by the Hon, Minister of Finance.  So, we expect the Hon. Minister of Finance to answer the questions of these members and not just of five members.  I thank you.

HON. TOGAREPI:  Minister, my question is, when I was doing something in town this afternoon, when ZIG and the transformation of the currency was announced, those street people had run away.  However, this afternoon they were back.  What measures have you put in place to seriously deal with any manipulation or any abuse of our currency as government to defend our currency?

HON. MUSHORIWA:  Madam Speaker, the President, on 6 February, indicated that we were going to a structured currency and my first question is that if the President said it was the road map, why is it that the RBZ failed to ensure availability of the notes when the changeover was done.  Secondly, why is it that the communication by the RBZ itself was actually so poor to the effect that it has caused confusion amongst the citizens of this country.  Then tied to that Hon. Minister, you had indicated that the fiscal measures that you are going to come up with, you will do them in due course, but if we had followed the pronouncement by the President who had said that both the Monetary and Fiscal Policy were coming up with the complementary, one would have expected that these two statements should have come close to each other and that sort of creates some confusion.  Lastly, what is it that government is going to do because as you are aware Hon. Minister, monetary issues are based more on perception rather than reality?  There is now a joke going around the country and on social media, what is it that you are going to do to curb the perception that the ZIG will just follow the same consequences faced by the bond note?  I thank you.

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