Introduce $100 bond coin: Chinotimba

HARARE - For a man who rose to be a parliamentarian on the back of limited education, bizarre antics, outspokenness and humour, it is difficult to discern when he is actually being serious.

The people of Buhera South who Joseph Chinotimba represents will hope Wednesday’s National Assembly question and answer session was one of those moments.

While legislators were debating the merits and demerits of introducing bond notes and ultimate effects on an collapsing economy, the former municipal police officer had a strange call.

“Is it possible for him (Reserve Bank governor John Magundya) to coin the bond notes so that we have $1, $5 or $10 bond coins because we have noticed that the people are not interested in bond notes but they would rather have bond coins,” Chinotimba said to interjections from other members of Parliament who questioned his reasoning.

According to Chinotimba this would satisfy skeptics who want to reverse the introduction of bond notes which have ignited panic withdrawals.

“So, if we could have bond coins in various denominations, people will be very happy,” Chinotimba added.

“The minister of Finance...and the Reserve Bank governor should be looking at making $20, $50 and $100 bond coins and people will be very happy because they will have been given the monies they want, bond coins not bond notes.”

The MP who kissed his way to become record holder of The Longest Kiss in Zimbabwe was turned down by the Speaker of the House.

He later rose again, this time, on a point of order.

“Mr. Speaker, my point of order is I asked a relevant question to the minister of Finance and Economic Development, but I am now surprised as my question was not answered, but you are following the guidance from the opposition who have told you that my question is irrelevant,” he said.

Notwithstanding, business of the House continued with everyone ignoring Chinotimba.

But he was not ready to let go without a fight.

“My question was not responded to,” Chinotimba said.

“My question to … Chinamasa, is we have realised that people are not interested in the unveiling of the bond notes but they would rather have bond coins in different denominations, from $1 up to $100.  This is what they want. We have people planning protest marches against bond notes, so please give them bond coins.”

Realising there was no avoiding Chinotimba’s rant, Chinamasa calmly responded.

“I am very grateful to the question raised by … Chinotimba...but I beg to differ from his opinion that people do not like bond notes,” Chinamasa said.

“My feeling is that people need an explanation on the use of bond notes as opposed to bond coins.  We have bankers and retail associations who have said they welcome the bond notes and this shows that the bond notes are a favourite.”

Chinamasa said those opposed to the introduction of bond notes were merely “small fish”.

“The problem is, we have some small fish that are not well versed in financial issues who are rejecting these bond notes.  This is not their problem; it is because they deal in small finances,” Chinamasa said.

“The question is, is it possible for us to have different denominations of bond coins, from $1 to a $100 coin… Chinotimba, this is a problem because if you have these coins you will need some form of transport to go and buy bigger items because of the weight of the coins.”

Comments (14)

Mr Chinos u're going crazy to think of a $100 bond coin, neither do we need a$1 bond coin. Rather introduce these bond notes than such an outthought idea

gift - 15 May 2016

Mr Chinotimba is right. He is merely anticipating what is likely to happen when bond notes come.

Whip the Nation - 15 May 2016

kkkkk, yaah well-done Mr Chinotimba for raising your point, kkkk.i really understand your point that we don't want bond notes for economic reasons.thank you!

tsviriyo - 15 May 2016

That's normal contribution for an MP from a "shake shake" stable. At some point our country should be guided by set standards to have quality M.Ps.

X-MAN IV - 15 May 2016

I saw the video clip of his rant in Parliament about this, and ZANU-PF MPs were on their feet cheering and ululating for him. This is very serious matter, and they are making fun of it. In his ignorance, Chons though he was on point, and kept on going, repaeating his stupidity and Chinamasa was laughing about it. The country is in dire need of solutions, we are on the brink of another economic meltdown and these fools are making light of this issue. It just goes to show how contradictory we are as a nation. On one hand we pride ourselves with having the highest "literacy rate" in sub-Saharan Africa, and yet we do not seem to have benefited from it by demonstrating that we did get it. Chinos is a representative of a huge constituency, yes people may have been intimidated into voting for him, but surely we should not allow him to waste money and time to rant about bond coins.

gudo - 15 May 2016

Was Chinos really off the mark. Rather than ridicule him, and call him small fish' please explain to him and a lot of us small fish wj why his idea is not feasible. for the common man in the street one bond coin of $100 would be all he can ever afford to carry in his wallet, buy for you big fish Chinamasa who need to have $10 000 in their pockets at any one time that would be aproblem. gud thinking Chinoz in an abstract manner

ignorance is bliss - 15 May 2016

the problem mr chinamasa is that the country is made up of very small fish who are opposing the bond notes.

country is made up of small fish - 15 May 2016

Ignorance is bliss for sure. Let's suppose you buy stuff for $3 with your $100 bond note, will the change fit in the same wallet?

Sagitarr - 16 May 2016

hey people chinos' idea is not bad - picture this how much is an ounce of gold , platinum or any other minerals you might think of.You make a $100 .00 gold worth of coin or a $100.00 platinum worth of coin and guess what this is a real gold or platinum coin and its better because they are the country' s natural resources rather to say we print bond notes based on a $200 million dollar loan facility.The gold or platinum coins would be worth their value that we physically see and that way would be much better.

tichaona - 16 May 2016

Chinos knows that people are against the notes, its will be better if the gvt does not introduce the notes

WAMAMBO - 16 May 2016

What is chinamasa talking about, it's actually the opposite, I think any normally operating business especially bigger companies wouldn't want any bond notes near them as they become worthless when they need to import stuff for their businesses.....it would really be moronic and naïve to think that everyone is gonna be exporting for the country to get foreign currency. I think chinamasa has just displayed his ignorance and lack of financial knowledge there and that's why our country is in this state because we are being led by people who have no financial intelligence. It's shameful to say the least!! Obsolete ideas, shame!!!

misty - 16 May 2016

@misty; what can yu expect from chinamasa? thats why he was beaten by Bennet that other time. he cant reason!

SaManyika Chaiye - 16 May 2016

chinoz apa wazongwarawo apa. you acted pachikuru.its a polite way of saying people dont want bond money.CHINAMASA its being said right in front of you by CHINOZ!!!

WEKANYI - 17 May 2016

Well done Chinoz, yes we dont want the bond notes, and with bond coins of upto $100, that will help quickly get rid of this bond moneys they are introducing against the wishes for everyone yet they claim they are peoples' party... thats very inconsiderate and the really are doing it for their own benefits, where is the United states dollar? it just vanished in less than 24hrs, Not even him Mangudya does want the bond, Funny

Chiks - 26 October 2016

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