No going back on bond notes: Mugabe

HARARE - Contrary to widespread speculation that the country will abandon plans to introduce the much-loathed bond notes and instead adopt the South African Rand, President Robert Mugabe yesterday said the only option available is the bond notes and that Zimbabweans just need to be pepped about the substitute currency.

The social media has been awash with speculation that after much vilification the Reserve Bank of Zimbabwe would abandon its plans to introduce the bond notes.

The speculation was further given traction by the Bankers Association of Zimbabwe when they said that the adoption of the more stable Rand is a better option compared to the bond.

But Mugabe told his central committee yesterday that the bond notes, that his government hopes will ease cash shortages, are coming soon.

“The issue of bond notes shall be explained to our people, against the disinformation by the opposition parties who write everything on this issue misinforming people.

“We will introduce bond notes, the first phase (introduction of bond coins) was received well but when they came to second phase (bond notes) it was received with much criticism but we need to educate our people,” said Mugabe.

Comments (21)

Mugabe is a ignorant greedy and old tired dog. He studied economics but I guess he never used that knowledge, perhaps he was teaching grade 1 where he only talked of giving and sharing and receiving. He must just come up clean and say he is introducing the defunct Zimbabwean currency and receive that first as his salary. He should use it himself even on his multiple and million trips.

amina - 10 June 2016

Rhobhati iduzvex ndabvuma hangu.

Dhonato - 10 June 2016

We need to educate our people????? Who is fooling who here Mr President? I would love to be educated on how to loot $15B without going to jail....

Watanga - 10 June 2016

Its time up old man just resign and allow fresh innovative ideas to take over. We are tired of outdated policies that are misguided emanating from the government

Tman - 10 June 2016

It is you who needs to be extremely educated mr president, you have taken zimbabweans forgranted for far too long. it is time you step down and allow fresh, young brains take over

mallorytk - 10 June 2016

BVUMA! BVUMA IWE! BVUMA WASAKARA BVUMA WACHEMBERA. MR MUGABE YOU AND YOUR PARTY ARE TOTAL FAILURES THAT NEED SERIOUS EDUCATION.

FARAI - 10 June 2016

Saka vachimuti bhobhojani, thick heADed good for nothing fool

dent - 10 June 2016

Yes, me might have bond notes in circulation as suggested by the highest authorities. My biggest question is cash shortage Zimbabwe 's problem. or its simply a symptom of our problems? My suggestion /answer is that we need to do more than just bringing bond notes. We need to kill corruption, increase production on our companies, promote more FDIs, ensure more industrialisation, people who got land must do more to ensure food security, ministers must not sleep on duty but must rather work hard in their respective ministries, we need to boost local production and urgently export surplus within the region to get much needed forex, we need to support SMEs at all levels, we need to support meaningful youths projects on income generation to deal with high unemployment, we need to promote consumption of locally manufactured goods and reduce unnecessary imports, all ghost workers in public sector and private sector must be flushed out as a matter of urgency, there must be respect of human rights, no forced disappearances, no threats, beatings, burning of each others' house, equality before the law irregardless of political affiliation or any other difference, no political intimidation, but one love among Zimbabweans, United we stand as Zimbabweans , this beautiful country belongs to us all and we need to think about today and future generations together.

Viona Ngwena - 10 June 2016

Its remarkable how RGM is blatantly disrespectful of the Zimbabwean pple. The other day he proudly reminded us of his and his cronies' brutality during the gukurahundi era. Today he vows we will introduce them to "our people" he owns us, yes I said that like we are his slaves for real. Remember that song "Chemutengure?" Mbimbindoga Botha... I think we have the worst of them all MBIMBINDOGA MUGABE Kuuraya vana ve Zimbabwe

gudo - 10 June 2016

Do you really have to politicize everything nhai VaMugabe? Hee opposition political parties vazoti, ko zvatiri kutaura isu macitizens hamusi kunzwa here? hatimadi mabond enyu aya

mai keisha - 10 June 2016

President Robert Gabriel Mugabe believes that he loves Zimbabwe so much that he wants to die with it, wanhu wakangotarisa. Zimbabweans who belong to ZANUPF must wake up and realise that, old man Sekuru Mugabe DOES NOT KNOW EVERYTHING and is no longer capable of listening to any sensible advice. He has always believed he knows everything and cannot accept that all he has done this far is mess up almost everything. Ian Douglas Smith used to blame the Press for the worsening Rhodesian situation. Mugabe blames the West. It is so sad.

Sekuru Ndoronga - 10 June 2016

Once upon a time in antiquity, there was a certain King of Idumean extraction but ruling Judah (hint, hint). His name was Herod the Great. They called him the Great builder, the great this or that but also the Great murderer. He murdered his own sons, generals and political opponents (hint, hint). In fact anyone he perceived as a threat to his throne, he murdered. But time caught up with him and he knew that he was dying, he ordered the arrest of all the beloved religious leaders and had them executed so that during the morning, he died and therefore no one would celebrate his demise. History has a way of repeating itself.

Sir Weak Nail - 10 June 2016

here comes doom to the defenceless pple!

SaManyika Chaiye - 10 June 2016

robert yava hari youfanzira kufa. musamutore serious please at 92 he is senile and very irresponsible. he is happy to see zimbabweans suffer so that he continues with his money laundering project kuitira muzukuru kkkkkk. ma zimbo takarara shuwa kutarisa setisina meso kana njere.

wezip - 10 June 2016

The final nail in his coffin, mark my words. Come December there will be nothing in the shops for there is no production at home, the only production that will be taking place is that of the useless bond notes...welcome back 2008 and the detonator will be lit this time around.

Qawe laMaqawe - 10 June 2016

our president, in as much as we do respect n honour u, you need to do the same in return. where on this planet would u think that the bond would wake in a country that has no single functional industry. bond notes is a failed deal n that would mark a great route into your unpopularity and this is a sign of you n your government failing the state, just step aside

chikusekuse - 11 June 2016

I feel pity for ZANU PF loyalists, by the time these old chaps are done, the party will be a sunken ship that cannot be raised to the surface again. No rescue operation will save the party after these guys go.

Khalid Khalid - 11 June 2016

This time he is out of ideas about the economy , he did economics of butter trade not of figures , how can you rate a US$ to a bond paper , and how can you value the bond paper as you reserves , please this old man need to be taught real economics not fiction economics tell him that the money is valued by the gold reserves in RBZ not bond papers . He must just listen to BAZ and the public , we don't need the bond notes because they have know value , we told him that you can rig the election but not the economy , these bond notes will create black market and inflation , if you do the calculation that 200 million facility from Afrixim is not cash inflow its just a facility with conditions , so this government want to put the figure at 10 billion bond notes raid our accounts to pay the interest and give us bond notes , the inflation will start growing because the bond not will be @ US$ to 50 bond note . They must just let us withdraw our US$ and then start depositing when the introduce their papers, at the moment the bond coin doesn't buy in any country and you can not get it in any foreign banks can you call that money , eish . its to late cde President , the best way is to just dissolve the government and resign.ICHO

Mudhara - 11 June 2016

I can see the imperialists are hallucinating again hahahaha , isusu vana veZimbabwe tiri kuti Pamberi naBaba Mugabe because he is a visionary .

shapiro - 11 June 2016

we will also not go back on refusing the bond paper!

Dhonato - 11 June 2016

VISONARY HIS ASS! KUPXWANYA NYIKA CHETE CHETE. FROM INDUSTRY TO INFRASTRUCTURE. HAPANA KANA ZVINE MUSORO ZVAAKAITA AFTER sMITH LEFT BESIDES KUPUTSA.

Dhonato - 11 June 2016

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