Business leaders in Zimbabwe have been called upon to strengthen the local currency, the ZiG, and promote economic sovereignty. This comes as Nigeria successfully lobbied for the use of its currency, the Naira, in the sale of crude oil. Aliko Dangote, a leading Nigerian businessman, praised this move by President Bola Ahmed Tinubu, highlighting its significance in reducing Nigeria’s dependence on foreign currencies and driving domestic growth.
In Zimbabwe, however, some businesses continue to undermine the local currency by relying heavily on the US dollar, despite government efforts to achieve economic independence through policies such as the National Development Strategy (NDS1) and the Transitional Stabilization Program (TSP). President Mnangagwa’s administration has stressed the importance of localizing industries, supporting small and medium-sized enterprises (SMEs), and reducing the country’s dependence on foreign goods to ensure sustainable growth.
Zimbabwean businesses are urged to follow Nigeria’s example by embracing the local currency, investing in domestic production, and contributing to the country’s economic transformation. Supporting the ZiG will help stabilize the economy, increase competitiveness, and reduce income inequality, ultimately creating a more prosperous future for Zimbabwe.
