Bring the bond notes: Industry
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.”