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Proposed Bond Notes Irk Zimbabwe Villagers in Mugabe's Home Area

  • Arthur Chigoriwo

Zimbabwe abandoned its currency in 2009 due to historic hyperinflation.

Zimbabwe abandoned its currency in 2009 due to historic hyperinflation.

Some people in Zvimba communal lands, Mashonaland West province, which is the home area of President Robert Mugabe, are clueless about the proposed introduction of bond notes, which the central bank says they are designed to promote exports.

Most villagers in Mukwasha and Waze wards professed ignorance over the bond notes, mooted by the central bank, with just few locals saying they have heard something about the coupons.

Mrs. Brandina Waze, a vegetable vendor, is among people who do not have any idea about the bond notes set to be released within the next two months by the Reserve Bank of Zimbabwe.

Another Waze villager, who only wanted to be identified as Pamela, thought that the bond notes are already in circulation.

“We don’t know anything about the bond notes but we will just accept any money that comes our way,” said Pamela.

But Mukwasha villager, Timothy Machiya, said he only heard about the bond notes on radio but is skeptical about using them as he still has piles of worthless bearers' cheques at his home.

Moreblessing Maphosa also echoed the same sentiments, adding that the bond notes would be similar to the abandoned Zimbabwe dollar.

Zimbabwe abandoned its worthless currency in 2009 when it adopted multiple currencies to curb biting historic hyperinflation.

Machiya said Zimbabwe needs a strong currency that can also be utilized outside the country and not bond notes if the government is serious about revitalizing the economy.

But Esnath Muwoni of Chirau communal lands, who believed that the bond notes are already in circulation, said the coupons are better than the United States dollar, which is not readily available in the country.

According to Muwoni, the bond notes are expected to revive the ailing economy. “We heard that bond notes were introduced and we are going to use them like how we use old bond coins. Bond notes are good because it is our money unlike the United States dollar which will go back to its original country.”

RBZ governor John Magudya has already indicated that the bond notes are designed to promote exports and stimulate the distressed economy.

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