RBZ Governor Turns Around Again, Says ZiG Is His Brainchild
24 May 2024
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By A Correspondent| Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has backtracked on his initial assertion that he did not know much about structured currency and engaged a World Bank consultant before introducing the new ZiG currency.

Responding to questions from the floor during a business meeting organised by the Zimbabwe National Chamber of Commerce (ZNCC), Masvingo chapter on Friday, 03 May, Mushayavanhu said ZiG will not fail as it was not imposed on the market, but a well-thought-out and purely Zimbabwean idea.

“No one told us to introduce the ZiG currency, of course, when doing something, one might seek for ideas and advice from others just to fine-tune but it does not mean that if you consult on something you want to do, it means you did not originate it.

“We consulted widely yes, but ZiG is my product as the Governor of the Reserve Bank and if it fails it’s my fault; it’s my brainchild,” said Mushayavanhu.

Mushayavanhu said he started mulling the idea of introducing the ZiG currency in September last year when President Emmerson Mnangagwa revealed to him that he would be the next RBZ Governor.

“If at all it fails, but I don’t see the reason why the ZiG should fail and it will not fail; but in the unlikely event that it fails, then it’s entirely our responsibility as Zimbabweans and my responsibility as Governor of the central bank.

“ZiG is a Zimbabwean-born currency, it’s a Zimbabwean product made by Zimbabweans, myself included,” added Mushayanhu