The new bank notes and coins that are set to be introduced into the market tomorrow are expected to ease cash shortages and save the transacting public from being charged extortionate premiums by mobile money operators when getting hard cash, President Mnangagwa has said.

The President said there is no going back on the ban of the multi-currency system.
He said no country can develop without its own currency.

The Head of State and Government and Commander-in-Chief of the Zimbabwe Defence Forces made these remarks at his first anti-sanctions rally at Tshovani Stadium here yesterday.

The rally follows the Sadc-initiated anti-sanctions campaign that saw the region resolving to set aside October 25 as a day to send a message to the United States that the embargo is no longer necessary.

“Right now people are being pained by the ever increasing prices in shops, it is because we are in a transition.
“We are transitioning from the low levels and we need to resuscitate our economy.

“We have no choice but to resuscitate our economy. ln that process, we have some people who want to take advantage to profiteer.

“You were not getting money from the banks, but on Monday (tomorrow) we are going to inject more money in the banks until we reach a level where you lose appetite to go and get cash from EcoCash.

“You will simply go to the bank if you have money in your account and withdraw it to buy what you want. Right now, we are told that if you want $100 bond you should transfer $150 into an agent’s
account.
“You are losing the other $50 for nothing.

This is because there are cash shortages in the banks. We are now injecting money in the banks to correct that.”State media