PPC support ZIG introduction

PRETORIA Portland Cement (PPC) Zimbabwe Limited’s managing director, Mr Albert Sigei has said the firm is supportive of the government’s ongoing currency reforms throwing full weight behind ZiG.

Speaking to the media today, Mr Sigei said the country must have a stable currency noting that the cement industry including PPP fully supports ZiG.

The Reserve Bank of Zimbabwe (RBZ) in April this year introduced the ZiG as part of a raft of policy interventions to address exchange rate volatility, curtail inflation and restore macroeconomic stability.

The new currency is backed by precious minerals, mainly gold, and foreign currency.

The transacting public has embraced the new currency, which has brought exchange rate and price stability, boosting the country’s economic prospects.

-chronicle