ZIMSPHERE
HARARE – Zimbabwe's Finance Minister, Mthuli Ncube, has called for patience from the public in the wake of disruptions caused by the recent introduction of the Zimbabwe Gold (ZiG) currency.
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| Finance Minister Mthuli Ncube |
The launch of ZiG by the Reserve Bank of Zimbabwe (RBZ) last Friday led to a temporary shutdown of electronic banking platforms as service providers transitioned their systems from Zimbabwe dollars to ZiG.
The RBZ has announced that ZiG notes and coins will enter the market on April 30, leading to a "change" crisis as traders have started rejecting Zimbabwe dollar notes.
The US$1 note is now the lowest denomination in areas where the Rand is not widely accepted.
Speaking to lawmakers in Parliament this week, Ncube asked the public to be patient during the transition from Zimdollar to ZiG.
"Again, if you could be patient and bear with the Reserve Bank; they have really done their best," Ncube said.
He acknowledged the complexity of the issue and the potential for unexpected challenges, but expressed hope that the public would understand.
Ncube also encouraged Zimbabweans to have confidence in the ZiG and take pride in their currency.
He emphasized the importance of clear communication and education about the design of the currency to build public confidence.
"I would like to urge members of the public to have confidence in ZiG and use it all the time. It is everyone’s currency, and we should be proud of it. After all, a country derives pride from its currency," he said.
Finally, Ncube issued a warning to those rejecting the Zimdollar, stating that law enforcement agencies would take action against them.
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