Business community reject $50 notes

Local currency

The people around Chitungwiza were surprised this morning when the business community started rejecting 50 Zimbabwe dollar notes.

The mantra Nyika inovakwa nevene vayo must be taken seriously as the opposite means Nyika inoparadzwa nevene vayo as we noticed that some of our own kith and kin advocated for sanctions which are hurting the nation and retrogressive.

President Mnangagwa is on record explaining that we can not manage the economy without our own currency.

“It has always been clear that for our economy to truly take off, we need our own currency,” President Mnangagwa said in a statement in 2019.

The detractors have now embarked on destroying the relevance of the Zimbabwe dollar.

The populace started by rejecting coins and other smaller denominations. However there has been little or no action on the part of law enforcement agencies to nip the rot in the bud.

Instead of bringing back the money into circulation, banks have joined the bandwagon. You can now on a few occasions withdraw Zimbabwe dollars from the country’s banks.

Rejection starts with illegal money changers who fear to carry wards of cash.

Instead of the populace resisting the rejection, they have passively embraced the illegal moves.

Consumers have questioned the inaction of authorities especially the Reserve Bank of Zimbabwe (RBZ).

They query that the bank must act and ensure as a nation we use our own currency.

Some people we talked to highlighted that those who refuse to accept the lower money denominations must be reported and brought to book.

Prices will rise as something that cost $50 Zimbabwe dollars will be raised to cost $100 to avoid change challenges.

Most countries in the world use their own currency.

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