By A Correspondent

In a notable development, Zimbabwean government spokesperson Nick Mangwana has suggested that the country may soon abandon the US dollar in favour of ZiG.

His comments, made in a post on X (formerly Twitter) on Tuesday, reflect a growing trend among African nations to distance themselves from the US dollar.

Mangwana highlighted the exchange rates of the US dollar against several African currencies, stating: “1 USD = 1341 Rwandan Franc, 1 USD = 936 Angolan Kwanza, 1 USD = 2731 Tanzanian Shillings, 1 USD = 1723 Malawian Kwacha, 1 USD = 1634 Naira.”

He pointed out: “What’s interesting is that you can’t legally buy anything using the USD in shops in all the above countries and others.”

His remarks seem to suggest a push towards a single currency, or “Monocurrency,” as a means of fostering economic stability and encouraging domestic transactions.

The shift reflects a broader sentiment among several African nations aiming to reduce reliance on the US dollar, which has historically been a dominant currency in international trade.

This announcement comes at a time when Zimbabwe continues to grapple with economic challenges, including hyperinflation and currency instability. By promoting a local currency, the government may hope to enhance economic sovereignty and improve fiscal management.

As Zimbabwe contemplates this significant policy shift, the potential implications for trade, investment, and everyday transactions remain to be seen.

The move could redefine the landscape of the nation’s economy and its relationship with international markets.