Professor Mthuli Ncube to unpack ZiG in Parliament

FINANCE, Economic Development and Investment Promotion Minister Professor Mthuli Ncube is expected to deliver a ministerial statement in Parliament on the operationalisation of Zimbabwe Gold (ZiG) currency which was introduced last Friday.

Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu announced the new currency which replaced the Zimbabwe dollar when he announced the Monetary Policy Statement.

Legislators on Tuesday requested the Speaker of Parliament Advocate Jacob Mudenda to summon Prof Ncube to deliver a ministerial statement on the new currency before the National Assembly.

Adv Mudenda, accepted the legislator’s request, revealing that Prof Ncube would be called to explain the new currency to Members of Parliament so that they can also cascade the message about the currency to their constituencies.

“Your request is accepted and will ask the Hon. Minister to present a ministerial statement to explain so that after his explanation, as representatives of the people, you will be able then to go back and explain equally, in equal measure, to the people you represent,” said Adv Mudenda.

CCC Marondera Constituency MP Mr Caston Matewu made the plea for a ministerial statement to be presented by Prof Ncube.

“I rise on a point of national interest. Mr Speaker Sir, on the 5th of April 2024, that is last Friday, the Reserve Bank Governor, Dr John Mushayavanhu issued the Monetary Policy Statement in terms of the Reserve Bank Act, [Chapter 22;15] which was followed by the Presidential Powers and Temporary Measures, [S.I. 60 of 2024],” said Mr Matewu.

“Mr Speaker Sir, we expect the Minister of Finance, Economic Development and Investment Promotion to come to this House and explain to us how the new currency is going to work. We owe it to the people, whether we are also going to amend the Finance Act which we voted for in December of 2023 because if the new currency is going to work, the common denominator must be confident. We must be confident that it will work, the people of this country, the region…”

He said they were expecting Prof Ncube to present an amendment to the Finance Act to ensure ZiG can be used for services across board.-chronicle