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Government Departments Will Soon Be Compelled To Accept ZiG Payments - Guvamatanga

11 months agoWed, 10 Apr 2024 15:19:50 GMT

Government Departments Will Soon Be Compelled To Accept ZiG Payments - Guvamatanga

Finance, Economic Development, and Investment Promotion permanent secretary, George Guvamatanga, said that all Government ministries, departments and agencies will soon be forced to accept ZiG payments.

ZiG, short for Zimbabwe Gold, has been the official currency of Zimbabwe since April 8, 2024. The new currency is backed by 2,522 kilograms of gold and approximately US$100 million in foreign currency reserves held by the central bank.

The new currency has been met with scepticism by most Zimbabweans, who harbour a deep-seated mistrust of the Reserve Bank of Zimbabwe (RBZ). This scepticism dates back to 2008 when the RBZ printed Z$10 trillion notes during a period of hyperinflation.

Furthermore, certain government departments, including the Civil Registry Department, responsible for issuing passports, refused to accept the predecessor of ZiG, which was the Zimbabwe dollar. This refusal has eroded confidence in the local currency.

Speaking during a 2024 Monetary Policy Statement breakfast meeting in Harare on Tuesday, Guvamatanga also said the country has not de-dollarised as the multi-currency regime was still in place. He said:

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The multi-currency regime was an agreed position between Government and industry and that is why industry is also using the US dollar as we speak today.
So, in that journey, there will be a point where fuel will be fully sold in ZiG and all duties will be payable in ZiG.
There shall be a point where all Government ministries, departments and agencies are forced to accept the currency. We are going to be forcing them very soon.
We have not de-dollarised, and we are still in a multi-currency system. It is a journey.

Yesterday, the RBZ said motorists won’t be immediately able to buy diesel and petrol using the new currency.

In a document addressing some of the questions about ZiG, the central bank also said ZiG is not yet recognised internationally and cannot be used to make international payments as it has not yet achieved convertibility.

More: Pindula News

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55 Comments

Anonymous · 11 months ago

ZiG currency mu international market kurota Zimbabwe isina drought gore rino..

Anonymous · 11 months ago

This **** govrnt of Mnangagws go rot in hel with you r **** Zig what what

Robert Mugabe · 11 months ago

Dejavu the reintroduction of bond note in another name. So even the gvt departments don't want to use it. Interesting for a currency back by Tons of fake gold kkk

rhabos · 11 months ago

why forcing ???it simply shows ndererekumààmàà

gatsheni · 11 months ago

RG's office will tell u they need to pay for sundries which are available in forex they must be imported

ymy · 11 months ago

ZIG ragadzirirwa varombo vapfumi ndivo vachange vachishandisa mausd$

Khan · 11 months ago

@ Yes....Really now don't get all touchy it's still early in the morning.....If He was so corrupt why is he not in the big house like all thieves and perpetrators of corruption are ...All those wild and baseless conspiracy theories were cooked up by broke, unemployed and hopeless opposition crybabies like yourself that envy people who have made something of their lives...If you wasted your university years getting a gender studies degree don't come here to whine and mourn because Guvamatanga and Tagwirei are successful and can afford to retire early while iwe you wallow in abject poverty hoping for some TikTok president to take over 🤣🤣🤣🤣🤣.... Slavery ended centuries ago so where is all the master talk coming from unless you are into some B.D.S.M. nonsense where Mugano or Chamisa is your master who shafts you from behind on your Ian Smith bedsheets while God Save the Queen plays in the background, 🤣🤣🤣🤣🤣🤣...Am not Genghis Khan although am honoured you have mentioned me in such high esteemed company... Bulwark of People United and Free

Holyman · 11 months ago

yes ngadziuyee Us ngaritobudaa rizotsvakwa takunda ku America hedu

..... · 11 months ago

Zambian kwacha rakamboshaya simba. Mozambican metikazhi yakamboshaya simba zvekare. Nyika idzi dzava ne economy yakanaka uye mari dzavo dzava nesimba. Havana kuchinja mazita emari dzavo kuti dzive nesimba, pane zvavakaita and we must ask and learn from them.

mtangadura · 11 months ago

Kusafunda kutambudzwa chose gvt ndiyo inofanira kushandiswa mari iyi kutanga ndiyo yaoona Kunakakwayo kwete kuti soon will be forced to use zig Yakagadzirirwa ani kupenga uku kushaya chikoro chete. We mari wanofanira kuita tsvakiridzo izere kubva kwandiri ini **** panekushandisa hu**** hwawo. Haugadziriri wamwe iwe uchizvinyima zvoreva kusajeka kwe ministry iyi. Huyai kwandiri ndikupei hu**** hunoshanda kupinda fundo yenyu yekuzvi makura examination wega

🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago

Iwe wakafunda urikuitei

mtangadura · 11 months ago

Cde hondo · 11 months ago

Zig or whatever you call it hazvishande as long as it's used together with a stronger currency the American dollar. Dai iri mono currency yes yaishanda. Chinoz akataura wani kuti it's for change chete kkk

Anonymous · 11 months ago

Kana Zig iri marii ngaitenge fuel, passport pay for duty. When the governor do his monetory policy shld consider the general public who operate under the tuckshop industry. Cross border traders are a major sector when consider the role of money changer outside. Money changers will not go away till banks take on the responsibility of changing money for the public

! · 11 months ago

😅

TD · 11 months ago

hapana hapana kana afa waunda sei chiripo kunoviga hauna imwe nzira apa ndopatasvika tisanyeperane hedu zim hapachina mukuru akoniwa padare hakanganwe bhachi kushaya nyadzi nezviripachena hazvina zvichaita mubhairo we chivii rufu zvaendwa dayi takaziva hainyaradze mwana

.... · 11 months ago

Gvt institutions should be the first to deal in ZiG and should demand all payments be made in ZiG. They should learn from Putin, under sanctions he did not abandon his currency, instead he demanded that all payments to Russia for oil and gas be made in the Russian currency. The ruble then gained more value than it had before sanctions and then became stable. Iyi yekuti tinotengesa madomasi nema veggies in US$ on the local market ndiko kumhanya bani chaiko. Dai kutaura kuno tave kunobhadhara ma passport nema bills ese ku council tichishandisa ma ZiG

Anonymous · 11 months ago

asi all that began because gvt ndiyo yakati 50% duty ne forex if they are serious peg passport in Zig only, fuel the same, duty the same. as long as there is element of paying in forex the local component will lose value because of less demand for it

Zozo · 11 months ago

Musamanikidze vanhu imi vana Guva. Kana iri Mari inotenga inombomanikidzwa vanhu here. It means marechera embanje chaiwo

Anonymous · 11 months ago

@yoyoyo, compelling is used everywhere in the world. Go Malawi padhuze apa or Zambia. Kwacha ravo ndiro rinoshanda usingadi uchida. One is forced to change whatever currency they have be it USD or rands into kwacha so that one does transect in Malawi or Zambia. So what is unique if it is done by Zimbabwe? Byn the way some of these business people enjoy the chaos in the market because they will be ripping people and making outrageous profits. Let them be compelled. Isaw someone velyfying the images of ZIGnotes achiti heee akafanana ne ma concert tickets. Akamboonawo here image yemari yeku india? kana ku China? Nyaya haisi ye image but value. Come on Zimbabweans.

🇿🇼🇿🇼🇿🇼 · 11 months ago

Hakuna nyika yakambobudirira isina currency yayo. Hakuna nyika inobudirira ichishandisa mari dzekune dzimwe nyika. MaZimbo takafa brain zvisingaite, kufunga kwedu kwakanyanya kuita kushoma. Ichiwo chihulmend chatinacho chakafawo zvakanyanya. Vapererwa. Zig harimbogona kuve stable richikwikwidzana ne US$ on the local market, harigone kuve stable kana vanhu vasina trust in gvt and the banking system. Zvinodiwa kuti ZiG rive stable vanozviziva asi havadi kuzviita nekuti they are the major beneficiaries of the chaos in the economy

Anonymous · 11 months ago

Ziggy (money)Marley dai zvaingota zanupf totambira ma zig ruzhinji rwotambira US dollar

gg · 11 months ago

the faster, ther better to localise all trading systems

cute gel · 11 months ago

there a fully of ****

patz · 11 months ago

What gvt departments. Handiti ndiyo hurumende yacho here. So Guvamatanga is saying gvt is going to force itself to accept the ZiG it introduced.

jonso · 11 months ago

he is simply saying Iwo havasi kutoshandisawo zvig ravo iroro

Anonymous · 11 months ago

Kkkk funny

BigDawg · 11 months ago

I love our currency 💵💲

· 11 months ago

Your currency.

Sorojena · 11 months ago

Saka varikuramba, ngavashedzerwe emaborder gezi right away.

Elliott Manyika Nhora · 11 months ago

border gezi was to return in Apt to concide with Independence time but was delayed to June kuitira timboona kuti nzara yakanangepi plus list revanhu varikuramba ma ZiG totangira ipapo

Gedion Gono wemaZillion dollars · 11 months ago

compel zvine kaforce in which us$ harifosewe munhu. idzi ndidzo bush and command economics

· 11 months ago

Command is THE ZANU trademark

tsoritsoto · 11 months ago

vakapusenika, akusikuchekeresa kwamurikuiita? tinokumbira mutsanangure mabasa enyu. nekuti munowanikwa kupi. zvimwe zvinotyisa

Va Kapuseni · 11 months ago

Handi kuchekeresa ba! Hazvina kushata kufanoisa mhanza painoshanda. Kana mwana akura tozodzorera. Chingori chivanhu

t · 11 months ago

test

Khan · 11 months ago

Guvamatanga is right ...guy has a proven track record embrace the ZiG

Yes · 11 months ago

A proven track record, yes. not of performance but of grand theft and corruption. Just dig into his past, why he was retired early by Barclays Bank. And why he was gifted by Tagwirei with a birthday holiday in Vic Falls. mr. Genghis Khan, shut up kana usingazive and let those of us who know speak. Your beak just parrots Your Masters Voice without understanding what you are saying

Khan · 11 months ago

@ Yes 🤣🤣🤣 c'mon now no need to get touchy hey.... If he was so corrupt why is he not in the big house like the rest of them thieves and perpetrators of corruption....Your useless conspiracies cooked up by broke , lazy and unemployed opposition sycophants are not worthy of my precious time .... Guvamatanga is a genius and master at his craft it is only entitled crybabies like yourself that think otherwise....I do not have a master ini wake up slavery ended more than 200 years ago🤣🤣🤣🤣...Unless kuopposition you are into some fantasy BDSM where Mugano is your master and you are his slave while he shafts you on bedsheets with Chamisa 's face on it while Handicheuke plays in the background 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

debt collector · 11 months ago

zimgold(cooking oil)zimgold(money💰) we're are in for it

jah master · 11 months ago

Ndini · 11 months ago

Forcing a horse to drink water kkkkk

🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago

Chero dai yanga iriyo nyaya, munorambirei mari?

Jason · 11 months ago

Mbava trying to be smart nyika kumawere supporting nonsense, distryoing Zimbabwe with cheap propaganda, handei tione, vanhu muchasvinura zvenyu

Yoyoyo · 11 months ago

😁😁kuti compelled hazvina kakumanikidza here kuti itambirwe Zanu PF inowanza ginya pese pese

🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago