Zimbabwe serious about de-dollarisation

Zimbabwe has come up with a de-dollarisation roadmap which will soon be presented by Finance Minister Mthuli Ncube.

This was announced after yesterday’s cabinet meeting but there were no details about when Ncube would present the roadmap.

Zimbabwe is currently using a multi-currency regime which is in place until the end of 2030 but President Emmerson Mnangagwa has said that the country could declare the local currency, the Zimbabwe Gold, the sole trading currency within two years.

The ZiG was introduced in April and has stood its ground against the United States dollar over the past four months though it is difficult to access cash.

Cabinet also announced that the Reserve Bank of Zimbabwe is strengthening the mandatory licensing requirements for businesses to have bank accounts and point of sale machines in order to promote the use of plastic money.

The central bank will deploy inspectors to curb misdemeanours that mitigate against price stability and the availability of basic commodities.

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