Harare, Zimbabwe (News of the South)-Former banker and founder of Kingdom Financial Holdings Limited Dr Nigel Chanakira has called for a focus on the root problem that has brought the country to its current economic state, in sight of coming bond notes, instead of piecemeal corrective measures.
Dr Chanakira, talking on his twitter account, did not specify whether the root is a political or economic system though respondents were unanimous it’s political.
“Quitting does not build societies. Resolving societal issues and fixing them is what makes nations progress. Let’s address the root”, he said in an ambiguous manner as to what he deems the root problem.
“We all know the root is an unsympathetic government that is out to destroy only. Fix that first! Yes its political”, one respondent said.
Sighting the past Chanakira went on to explain the reason for consternation over the coming bond notes.
“Irrevocably the major reason for Zim public’s outcry against bond notes is lack of trust and confidence given the Z$ and Foreign Currency Accounts history of the Reserve Bank of Zimbabwe”, he said, to which Ambassador Trudy Stevenson of the MDC also affirmed.
“An elephant never forgets. We have terrible memories (of) ZimDollar collapse and bond notes- so we will not easily repeat”, she said.
However Chanakira cautioned against the black market citing it as a scam to rip off people.
“Zimbos would be plain dumb to rush to the black market to dump bond notes when there are 30 Reserve Bank of Zimbabwe Homelink branches to get par value”, he said.
They are fears that the coming bond notes will suffer a quick demise and loss of value as they will be traded on the black market in a scenario likely to bring more economic damage and suffering.
The issue of the Bond nots has gripped the Southern African nation with many of the people fearing a repeat of the last days of the Zim dollar days when inflation reached billions.
Government has however refuted the parallels being drawn between the Zim dollar and the coming bond notes saying they are different and won’t have similar results.
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