Mthuli Ncube Explains Civil Servants' Bonuses

Finance and Economic Development Minister Mthuli Ncube has confirmed that civil servants, civil service pensioners and war veterans will receive their bonuses later this month through bank deposits into their Nostro accounts.

In an interview with State media, Ncube said all bonus recipients will be allowed to withdraw their money in cash at their respective banks. He said:

It (bonus) is going to be paid into Nostro accounts of civil servants.

They will be able to withdraw it as cash or transfer it to their cards and use it for purchases or even keep it in their savings accounts.

For pensioners, naturally, their benefits will also be paid in US dollars, even for war veterans, everyone who is on the civil service payroll will receive their bonuses in foreign currency this year.

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He explained that the Government decided to pay this year’s bonuses in foreign currency owing to high inflation rates. Said Ncube:

We realised as Government that there was pressure from inflation being pushed by the parallel market and inflation was beginning to go up.

Also, there was a call from the civil servants’ leadership that there should be payment of the bonuses in US dollars, so we responded to these two calls.

The President had also said let us do it and pay the civil servants in US dollars and we are going to do that for this year’s bonuses.

Last week Finance and Economic Development secretary George Guvamatanga said bonuses will be paid out up to a maximum of US$700 for civil servants while civil service pensioners are set to receive US$100 as bonus payments and an extra US$80 for their spouses and US$60 for their children.

He said civil servants earning more than US$700 will be paid their balances in local currency.

It is projected that the Government will fork out US$90 million to pay the bonuses.

More: The Sunday Mail