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No Rushed Return To A Mono-currency, Says Mangudya

No Rushed Return To A Mono-currency, Says Mangudya

Officials from the Confederation of Zimbabwe Industries (CZI) met the Reserve Bank of Zimbabwe (RBZ) Governor, John Mangudya early this week to discuss a number of issues.

The meeting came after a CZI position paper, titled “CZI Urgent Engagement paper on the deteriorating currency situation” was leaked to the public. In a statement on Tuesday, 26 April, CZI president Kurai Matsheza, said:

Further to the unintended circulation of the Confederation of Zimbabwe Industries (CZI) paper, meant for dialogue with the authorities, we would like to clarify matters and update our members and the public.

We have subsequently met with the Reserve Bank of Zimbabwe (RBZ) Governor, Dr JP Mangudya and would like to highlight the outcome of our meeting.

Matsheza said during the discussions, the central bank Governor gave assurances that the de-dollarisation is going to be a process and that no rushed return to an exclusively Zimbabwe Dollar or USD environment is planned.

Mangudya also assured the captains of industry that there is no intention to “raid” foreign currency balances and that the auction backlog is a priority for the RBZ and concerted efforts are underway to clear the backlog. Added Matsheza:

The other matters raised in the said CZI document shall form the basis of further consultations between CZI and the Authorities on a continuous basis as is our normal and usual custom.

As CZI, we remain committed to engaging with the government and collaborating in the best interests of the economy, our members and business.

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17 Comments

Dr Manchu 4 weeks ago

Mangudya and friends have failed dismally if this was not a gvt of crooks they d have been relieved of their duties a long time ago


pumura 4 weeks ago

Mangudya can you show us your payslip maybe we can understand you better


phil 4 weeks ago

Mangundya inharo dzemunhu akakurira pabarika yu hev failed taurira boss wako kuti zvadhakwa dira rizare Mthuli pakaipa 2023


dira rizare 4 weeks ago

ZWLRTGS$100 ikutenga 2madison

dira hako rizare shamwari


kkkkk 3 weeks ago

ndozvavakaiundzira izvozvo....this RBZ thing should be closed

4 weeks ago


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Jah🇿🇼Tsvarie-07 4 weeks ago

Mangudya promised to fix the economy, he will keep trying yet making Zimbabwe a living hell.
If his salary was in Rtgs$ he was gonna understand what citizens are saying.

Even an ECD A will tell you that Rtgs$ has failed, dont force us to starve only because you promised the President that you will fix things.
Life in 2022 is more like 2008, the difference is there is no price control that's why we still have goods on shelves and those goods are for the elite...


Cable Guy 4 weeks ago

Well said.

phil 4 weeks ago

Dambudzo Panonetsa zvechokwadi @least yu hed it fro the horse mouth thanks Saviour kubviswa papower munhu anotaura sense .I rememer 2013 muchiti zvaita GNU yangaichikukananisai kutonga.god is great we see the devil at same height 😁😁😁 😁


saviour kasukuwere 4 weeks ago

Zanu pf wont dollarise so soon why they get rich through crisis remember they get electronically printed money RTGS and send their trusted runners MINEY#CHANGERS to scoop the USD in the streets,inaddition the salaries are electronically printed which makes more gvnmnt employees buying the USD from the same RUNNERS,if they dollarise they will b out of business


rey 4 weeks ago

My advice to the @ZANUPF_Official Govt is to dollarise if it is to retain
Zanu pf wont dollarise so soon why they get rich through crisis remembe r they get electronically printed money RTGS and send their trusted runners MINEY#CHANGERS to scoop the USD in the streets,inaddition the salaries are electronically printed which makes more gvnmnt employees buying the USD from the same RUNNERS,if they dollarise they will b out of business


mainTitis official handle 4 weeks ago

My advice to the @ZANUPF_Official Govt is to dollarise if it is to retain any chance of winning 2023 elections. It doesn't pay to be arrogant on issues of economics as some of its politicians have been on issues to do with the US$.


Chawabvunza 4 weeks ago

Whether RBZ Governor likes it or not, dollarisation is fast coming.. "Tinozviziva kuti nyika inovakwa nevene vayo" , but RRTS have failed dismally to build ZIMBABWE. At the rate at which RTGS is depreciating against the US$, by the end of this year the official rate shall be US$1:500RTGS and blackmarket rate shall be US$1:900RTGS. Wholesalers and Traders have always benchmarked their prices on blackmarket arguing that, that is where they get their money. A 2 litre bottle of cooking oil now costs 1 500 RTGS and by year end it will cost 5 500RTGS. Whilst things are going this way, government is busy stifling salary increments.

[ SHINGA MUSHANDI, SHINGA. VOTE CCC FOR REAL CHANGE ].


phil 4 weeks ago

@Mai Titis thi is CCC a new vibrant party very different fro MDC and Zanu pf where yu think courts wil protect individual interests apa chero Khupe is confused like yu..kkkk


mai Titis 4 weeks ago

thokozanu tine size yake uyo the constitution will humble her,we are tired of political chancers,who survives in gambling
look we are in messy of funds coz the funds were donated to Dhagi& Thoko
we are in this disarray coz of her
kudya kupolad,kuzanu apa akuda kudya kuccc

nc 4 weeks ago

dollarisation is going to be a process , so we are going back , confirmed


Mai Titis official handle 4 weeks ago


It is my sincere hope that the CCC will solves these concerns soon because they are ligitimate. How are CCC candidates going to be selected when there is no Constitution & no leadership structures? How will the processes & procedures be fair if there is no guiding document, ie; a Constitution? Is this the rule of law we preach & demand of others? Me thinks, without a constitution to insulate the CCC's internal processes from external influences, there will be chaos, since any interest party can take their grievences to court. So far, noone has the constitutional mandate or power to stop or control sinister people from taking up positions. There are no guidelines yet & anyone can declare themselves a member of CCC. Khupe just declared herself a member without submitting a membership application form & without her membership being approved. So far, it's open for all. There are no legal controls deriving from a constitution & this opens up the CCC to infiltration & court battles. Also, Hwende is publicising his incompetence. It's the SG's duty to fundraise & do party administration. If Hwende cannot urge CCC to fund themselves & hold a Convention / Congress, then he is not the right person for that post. In the past, during Tsvangirai's tenure. MDCT members would use their own money to come to Congress.



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