Zimbabweans may soon be able to change ZiG to US dollars and vice-versa on their phones

This is where the FIU is focusing its efforts on as we speak because there is no reason for a bonafide individual to be going to the black market.  It then means that anyone who is dealing on the black market, is either a money launderer or is trying to avoid tax. 

All of which are reasons why the authorities need to come after you. Those who fall in between, your general populace, we are working on a solution as Government, coupled with the private sector to allow for small transactions, the general populace to be able to get the small amounts, $20 or $50 through negotiations with our mobile network operators.  To be able to access the Bureau de Changes that are on their Ecocash or Netcash platforms.  This means if you have an Econet line and you register for ecocash, you can convert from ZiG to USD, from USD to ZiG at the official exchange rate.  That is the first part to allow interchangeability without having to go to the streets.

The second part is, we are still in discussion.  Right now, the Reserve Bank (RBZ) is talking to the mobile network operators, mentioning Econet in particular because they were suspended in 2020 after some issues that now have been ironed out.  We would want to have agents re-activated so that the most remote areas, our constituents, the citizenry can access both USD and ZiG from their wallets.  

Econet went a step further last week and zero rated the charges for sending money from the diaspora to Zimbabwe.  This was a show of good faith and support for Government during this El Nino period as well as to show the commitment in bolstering our efforts in supporting and defending our currency. 

I would submit that these are the efforts that we are doing.  In as far as the claim that some of these money changers have been sent by Government officials; I would refer that may be to the Minister of Justice. I have not heard reports of that nature but on this one, there are no scared cows.  I thank you.

(274 VIEWS)