Breaking News

Prophet Makandiwa advises govt to adopt rand

by Staff Reporter
03 December 2018 | 4596 Views
The church has also waded into the economic debate with United Family International Church leader Prophet Emmanuel Makandiwa weighing into the growing calls for government to consider the option of using the rand as a solution to solving the currency crisis that has become a burden for both business and consumers.

Divergent solutions have been proffered on how government can deal with the current fiscal challenges, including the wider usage of the rand as the functional currency given the already strong connection between Zimbabwe and South Africa in terms of trade and FDI.

UFIC leader Prophet Makandiwa, the latest voice to wade into this debate, this Sunday advised monetary authorities to urgently address the currency distortions that have become an albatross for both business and consumers.

Industry leaders such as the Confederation of Zimbabwe Industries (CZI) and the Bankers Association of Zimbabwe  are on record pushing fiscal authorities to adopt the rand as a currency of reference which would ease the pressure on the country as it had become an easy target to access the green back.

According to the industrial body's past president Mr Busisa Moyo, the rand link presents a strong option for Zimbabwe considering the already strong relationship between the two countries.




The government is currently implementing a number of reforms to revive the economy implemented through a raft of cost cutting measures, but has approached the currency crisis issue with saliency leaving room for arbitrage opportunities.

Despite the growing calls, treasury maintains a lot of issues need to be considered before taking such a route.

The debate on the use of the rand ahead of the US dollar to resolve the country's currency challenges escalated last year, with arguments centered on the trade statistics where the country's economic activity is already quoted at 95 percent with Pretoria.

Makandiwa Rand CZI Confederation of Zimbabwe Industries

Source: zbc

Comments

Latest News

Mnangagwa's Important Speech

by Tom Nkala | 15 December 2018 | 4788 Views

PHOTOS: MDC gala dinner held in Harare

by Mandla Ndlovu | 15 December 2018 | 5405 Views

PHOTOS: Bomb found at ZBC studios

by Mandla Ndlovu | 15 December 2018 | 7487 Views

Mnangagwa donates 1 000 goats to schools - First lady Auxillia Mnangag...

by Staff reporter | 15 December 2018 | 1781 Views

MDC Alliance losing Cllr jailed - MDC Alliance's losing council candid...

by Staff reporter | 15 December 2018 | 1900 Views

China tells Zimbabwe 'Don't blame us, sort your own house' - The China...

by Staff reporter | 15 December 2018 | 4173 Views

ZANU PF to ammend constitution

by Mandla Ndlovu | 15 December 2018 | 7270 Views

Mnangagwa re-introduces Green Bombers

by Mandla Ndlovu | 15 December 2018 | 5935 Views

Police crush teachers' protest demo

by Mandla Ndlovu | 15 December 2018 | 2933 Views

WATCH: Police demand driver's licence in exchange of fuel

by Mandla Ndlovu | 15 December 2018 | 2892 Views

Harare City Council owes $ 792 million

by Mandla Ndlovu | 15 December 2018 | 1310 Views

Mnangagwa exposes Muchinguri-Kashiri lie

by newzimbabwe | 15 December 2018 | 5732 Views

Zimbabwe doctors using condoms as medical gloves?

by ZimLive | 15 December 2018 | 1626 Views

Chimene's daughter dies

by Staff reporter | 15 December 2018 | 3186 Views

Zimbabwe scoffs at SA ConCourt ruling - PRESIDENT Emmerson Mnangagwa's...

by Staff reporter | 15 December 2018 | 2003 Views

Biti's Magistrate in trouble - HARARE regional magistrate Gloria Takun...

by Staff reporter | 15 December 2018 | 1817 Views

US calls on Mnangagwa to show his statesmanship by urgently - THE Unit...

by Staff reporter | 15 December 2018 | 2061 Views

Suspended Zesa bosses seek removal from remand - THREE suspended Zesa ...

by Staff reporter | 15 December 2018 | 298 Views

Zimbabwe security sector reform back on the agenda - HUMAN rights grou...

by Staff reporter | 15 December 2018 | 404 Views

Mnangagwa to serve his two terms, says Chiwenga

by Staf reporter | 15 December 2018 | 612 Views

Ex-lover drags cop to court over upkeep - A POLICE officer from Bulawa...

by Staff reporter | 15 December 2018 | 331 Views

Second drowned Government official's body recovered - UNDETTERED Minis...

by Staff reporter | 15 December 2018 | 739 Views

'Zanu-PF has no agenda for a GNU'

by Emmerson Mnangagwa | 15 December 2018 | 132 Views

Health hazard looms as hospital Registrars down tools.

by Mandla Ndlovu | 15 December 2018 | 541 Views

Chamisa must wake up from GNU reverie

by Ediitorial - zimpapers | 15 December 2018 | 330 Views

Mukanya will retire when he dies

by Staff reporter | 15 December 2018 | 280 Views

Mohadi's health deteriorates

by Staff reporter | 15 December 2018 | 1751 Views

Mnangagwa warns Zanu-PF against complacency

by Staff reporter | 15 December 2018 | 132 Views

Entertainment

Kalawa Homecoming in disappointing line-up

by Mandla Ndlovu | 15 December 2018 | 1440 Views

Thomas Mapfumo Gweru show flops

by Staff reporter | 09 December 2018 | 4302 Views

Sandra Ndebele speaks to $80,000 'thieves' in new song

by Staff reporter | 09 December 2018 | 998 Views

Kasong Kejecha causes consternation

by Staf reporter | 09 December 2018 | 1016 Views

Thomas Mapfumo jets in tomorrow

by Staff reporter | 03 December 2018 | 2521 Views

Chinese-Zimbabwean model eyes global crown

by Staff reporter | 02 December 2018 | 2840 Views

'Jah Prayzah does not own Military Touch'

by Staff reporter | 02 December 2018 | 2113 Views
iBlog

Samsung Gear Vr Innovator Edition For S6: The Perfect Vr Intro For Professionals

we're drenched in talk about the impending wave of consumer-facing vr headsets about to hit the market, starting at the end of 2015. by contrast, you can walk into a best buy right now and pick up the samsung gear vr innovator edition for the galax... Read More
Sergey 20 June 2015 ago

What To Look For In Video Converter Software

looking for the best video converter software? you have to compare different video converters before making a purchase.the ability to watch video on different types of devices is a wonderful thing. not so wonderful are the compatibility issues that ... Read More
Sergey 19 June 2015 ago