The country has returned to normalcy: ED on Zim Dollar

By Judith Sibanda

President Emmerson Mnangagwa has defended the abolishment of the multi-currency regime in favour of a local currency saying it has brought back “normalcy” to the country.

Finance minister Mthuli Ncube announced on Monday the abolition of the multi-currency regime, 10 years after it was introduced, with the government saying the local unit, was the only recognised legal tender.

Addressing journalists in Victoria Falls on the sidelines of the AU-UN Africa Wildlife Economy Summit, Mnangagwa said the measure was a sign that the country was reverting to normalcy.

“Zimbabwe has gone back to normalcy,” he said.

“The normalcy is, a country must have its own currency, that’s normalcy. We were living in an abnormal situation and you should be the first to congratulate us for becoming normal again.

“We had a basket of currencies, we have removed them and our current currency is denominated either by the coins, the bond notes or the RTGS, all that is domestic.”

He said foreign currency was not banned in the country for international transactions.

“Except that if you want to transact in any shop, if you want to buy your tea and milk in dollar or euro, then you must go to bureau du change, that is allowed.”

Over the months, service stations mainly in Victoria Falls and supermarkets have been rejecting the local currency, a move that had also forced Victoria Falls Municipality to demand payment for rates and bills in foreign currency.  

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