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*UPDATED: Zim To Have New Currency By December 2019 - Mnangagwa* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?id President Emmerson Emmerson Mnangagwa said that Zimbabwe will have its own currency by the end of this year. Speaking in Southlea Park on Friday morning where he was leading a national Clean Up campaign, Mnangagwa said the country cannot develop economically whilst using other countries’ currencies. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- He added that the multi-currency regime is problematic in that it causes the value of the local RTGS Dollar to collapse as people chase the greenback. He said: > Between 2008 and 2009 our country’s currency lost value and some people became billionaires or trillionaires due to high inflation. > At the time Government decided to adopt the multi-currency regime where we started using, the US dollar, Rand, the British Pound or Pula for transacting. > It was a policy measure to address the challenges that were being faced then. We, however, cannot continue going forward without our own currency. > South Africa has its own currency and when you go there with the US dollar or Euro you would have to convert it to the Rand before you can transact. > The same applies to Zambia, Botswana, Mozambique and the UK. A country cannot develop using other nations’ currency. > A currency is only printed by its owners and the only way to get it is through exports, Diaspora remittances or foreign investments but as a country, we should have our own currency and we have embarked on that journey (to have a local currency). Mnangagwa revealed that the introduction of the new currency will mean that foreign currency will no longer be used in local transactions. *More: The Herald* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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