Embrace bond notes: Moyo
BULAWAYO residents have been urged to embrace bond notes which are expected to be released next week to ease cash shortages in the country.
Bond notes will be released into circulation gradually and sparingly to ensure that they retain a critical characteristic of currency scarcity.
The Minister of State for Bulawayo Provincial Affairs, Cde Nomthandazo Eunice Moyo, told Sizinda residents that bond notes were the solution to the cash crisis.
“As from Monday bond notes will be in our banks because people are struggling to get the US dollar.
Let’s embrace the bond notes sisebenze ngawo, you will see that life will change,” said Cde Moyo.
She said foreigners who came in to hoard hard currency fuelled cash shortages.
“There is no money because we are using the United States dollar which is used everywhere in the world. People from South Africa, China, and Zambia come here for that money,” said Cde Moyo.
“There are also people who would come and sell cheap things taking the US dollar back to their respective countries.
“We have actually helped open industries in foreign lands and this has led us to this cash crunch.”
Cde Moyo told residents that Statutory Instrument 64 was meant to protect local industry.
“The Government enacted SI 64 so that people buy for their homes not for hoarding.
“We want to encourage people to buy from local industries. However, there are people who are spreading falsehoods that Government has barred people from buying goods outside the country,” she said.
“Tell your children in South Africa that they can buy you groceries, it’s allowed.”
Reserve Bank of Zimbabwe Governor Dr John Mangudya on Thursday said $65 million worth of bond notes would be released next month.
The balance making up the $200 million bond notes support facility from the African Export and Import Bank will be released into circulation gradually, until end of 2017.
The bond notes will come into circulation after nationwide awareness campaigns, with an initial amount of only $65 million being released into circulation.
Also present at the meeting were officials from the Registrar General’s Office and Social Welfare who spoke about their operations.
Bulawayo Provincial Registrar Mrs Jane Peters explained that besides identity, travel and death certificates, her office was also issuing brand certificates for livestock.
“To those of you who have rural homes, who have livestock, you can get brand certificates for your livestock.
‘‘All livestock must be branded so that it’s easily identifiable and documented in case they stray or get stolen,’’ said Mrs Peters.
She encouraged residents to make sure they acquire birth certificates within six weeks after the birth of a child.