RBZ Worried As Zim Public Rejects Bond Coins

Central bank Governor Dr John Mangudya has met with the Bulawayo business community in an effort to clear the scepticism by the public surrounding the use of bond coins.

Dr Mangudya urged the Bulawayo business community to change their perception and refrain from being sceptical but instead work on growing the economy.

The central bank chief said perpetuating negative perceptions increases the country’s risk when securing foreign direct investment, adding bond coins are equivalent to the United States currency.

He explained that the introduction of bond coins is meant to reduce prices that were being rounded off to the nearest dollar due to the shortage of change.

“There is need to bring sanity to the country`s pricing system,” Dr Mangudya said.

After the meeting the central bank Governor visited Basch Street terminus, commonly known as Egodini, where he interacted with commuter omnibus operators on the issue of bond coins.

Some of the operators contend fuel service stations are refusing to accept the coins.

The bond coins were introduced on the 18th of December last year but they have been resisted, especially by small businesses.

 

ZBC