As the country embraces the new ZiG currency, it is important that we preserve its value for the economy to grow and, ultimately, lift the living standards of Zimbabweans.
The Vision 2030 pronounced by President Mnangagwa can easily be achieved if all stakeholders work together.
However, if threats to our currency are not attended to, such good interventions will remain visions.
One chief threat to our currency is the street illegal foreign currency dealers.
These dealers have become the de facto monetary authorities. They have always been manipulating the daily exchange rates for their selfish benefits.
The illegal dealers hoard cash in their trunks, thus depriving the public.
This stashed cash is then sold to the desperate public at a premium, since banks will not always have enough for us.
This puts pressure on Government and also the public in need of cash for transaction. This has also promoted inflation. Those who want to legally deal in foreign currency should get licenced and operate as bureau de change.
It is disturbing that these forex dealers and vendors determine the rate of exchange and decide on the bank notes to invalidate, causing confusion on the market.
Honestly speaking this must just STOP!
There should be laws to curb this illegal practice. Relevant authorities should put in place statutory instruments that put an end to illegal dealings in foreign currency.
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Surely, the RBZ should be the first to be concerned because their product is being abused daily. The RBZ is the monetary authority and should have control over the very money they represent?
The money changers are not natural disasters like El Nino or earthquakes which we do not have control over.
We cannot wait for market forces to choke them out of business because they determine the market and direct how the market should behave.
These "vultures" are now waiting to pounce on this new baby -- the ZiG currency.
Before the ZiG notes and coins begin to circulate, the environment should get rid of these illegal dealers otherwise it is a futile exercise to bring a new currency that these "authorities" are waiting to abuse.
Let us have a safe landing of the new currency.
It is a norm that before we plant any seed we prepare the land. Likewise, the environment for ZiG has got to be conducive; no second options-cash barons must be removed first.
Confidence in this currency by the public does not come only from what the Central Bank tells us, but also from what they do to protect the currency.
Authorities have to guide on providing solutions to such challenges. We cannot continue to let illegal dealers dictate to us on currency and its value. These internal saboteurs should not continue to operate. There is need for action against these "vultures".
