Bring the bond notes: In­dus­try

Chronicle (Zimbabwe) - - Front Page - Pa­trick Chi­tumba

IN­DUS­TRY cap­tains have ex­pressed readi­ness to re­ceive bond notes say­ing they are con­fi­dent the strat­egy will have a pos­i­tive im­pact on the econ­omy.

Ad­dress­ing mem­bers of the Con­fed­er­a­tion of Zim­babwe In­dus­tries (CZI) Mid­lands Chap­ter in Gweru yes­ter­day, the in­dus­try body’s na­tional pres­i­dent, Mr Bu­sisa Moyo, urged Zim­bab­weans to em­brace the new notes, which are due to cir­cu­late in the mar­ket by end of next month.

Last week the Re­serve Bank of Zim­babwe (RBZ) an­nounced that an equiv­a­lent of $75 mil­lion worth of bond notes will be in cir­cu­la­tion by De­cem­ber this year in de­nom­i­na­tions of $2 and $5 notes.

Mr Moyo said the trans­act­ing pub­lic should have faith in the Gov­ern­ment, which has al­layed fears of abuse of the fa­cil­ity and sus­pi­cions of a re­turn of the dreaded Zim­bab­wean dol­lar era.

“The bond will be func­tional notes and are a wel­come de­vel­op­ment to busi­ness. Per­cep­tion is nega­tive be­cause the peo­ple are fear­ful of go­ing back to the lo­cal cur­rency,” said Mr Moyo.

“How­ever, from a func­tional point, the notes are good like the bond coins, which have been widely ac­cepted. Up to now there has been an un­re­strained use of bond coins and they are very use­ful when it comes to change.”

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