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The South African Reserve Bank is upholding its decision to alter the spelling of Xitsonga text on banknotes, despite objections from some speakers of the language who believe it is incorrect.
The bank stated that the Pan South African Language Board had approved the spelling on the 100 rand banknote, and is the “statutory authority on [language] matters”.
The new note reads Bangikulu, whereas the previous currency read Banginkulu.
Some speakers of the language have disagreed with the change, claiming that there was no consultation with them. However, the reserve bank’s governor, Lesetja Kganyago, has stated that the new note does not contain an error, and is in fact correcting a previous mistake.
The Pan South African Language Board, in charge of translations on SARB banknotes and coins, deemed the additional “N” on old notes incorrect, as it should only be used when referring to a person, not an organization like the SARB.
Xitsonga National Language Body requested the spelling be corrected on new notes and advised the SARB to rotate languages to avoid favouring one.
The board informed them of a new Xitsonga standard code in 2022, where the “N” was unnecessary when referring to the SARB. Kganyago stated that the Reserve Bank consults with the board on language appearing on the notes and coins.
<h2><a href="https://www.pindula.co.zw/">More Pindula News</a></h2>

Pindula News

South African Reserve Bank Persists Spelling Change On Banknotes Amid Objection

The government of Zimbabwe gazetted Statutory Instrument (SI) 192 of 2022 on Friday 11 November 2022 stating that toll fees at Beitbridge Border Post are now payable exclusively in US dollars and South African Rand. Read the SI seen by Pindula News:
<blockquote>
<h2>Statutory Instrument 192 of 2022.</h2>
[CAP. 13:13 Toll Roads (Beitbridge Border Post Modernisation Project) (Amendment) Regulations, 2022 (No. 1)
IT is hereby notified that the Minister of Transport and Infrastructural Development has, in terms of section 6 of the Toll Roads Act [Chapter 13: 13], hereby made the following regulations:—
1. These regulations may be cited as the Toll Roads (Beitbridge Border Post Modernisation Project) (Amendment) Regulations, 2022 (No. 1). 
2. The Toll Roads (Beitbridge Border Post Modernisation Project) Regulations, 2020, issued in Statutory Instrument 127 of 2020, are amended in section 5 (“Amount and collection of project ton—
(a) by the repeal of subsection (1) and the substitution of the following—
“5. Subject to section 6, any person in charge of or driving a commercial vehicle passing through the Beitbridge Border Customs Area shall pay the project toll at the designated office of the Beitbridge Border Customs Area exclusively in USD or South African Rand, as specified in the Schedule.”; 
(b) by the repeal of subsection (2).
</blockquote>
A notice that was issued by Zimborders following the SI stated that Zimbabwe dollars are no longer acceptable. Read the notice:
<blockquote>
Beitbridge Currency Change Notification
Important Notice to all Commercial Trucks
We would like to take this opportunity to advise our customers, as per the revised Statutory Instrument published on 11 November 2022. ZWL will no longer be accepted as the currency of receipt, irrespective of vehicle country of registration. This will come into effect 1st December 2022 and request that you please make the necessary arrangements to ensure you are not inconvenienced at the Border.
Thanking you Zimborders
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Toll Fees At Beitbridge Border Post Now Payable Exclusively In US$ And South African Rand

South African Police have rescued a Gauteng businessman who had been kidnapped. 
They also recovered R6 million cash that had been stolen and also managed to arrest the kingpin of the kidnapping gang who is apparently a Mozambique national. 
The development comes at the backdrop of rising Cash-in-transit robbery cases. 
This week, 8 people, including Zimbabwean nationals were jailed for over hundred years each for robbery, murder and other charges. 
More: <a href="https://t.co/bmM9q4LLKA">IOL</a>

SOUTH Africa: Police Recover R6 Million Cash, Rescue Kidnapped Businessman

Speaking during a live radio show hosted by Capitalk 100.4 FM, president Mnangagwa warned those withdrawing foreign currencies from circulation risk losing its value since the new currency to be introduced will be used alone in Zimbabwe.
One listener asked how the new currency would be sustained when there is no production. The president said that he would not be cornered into revealing the stages that are to be followed until the local currency is introduced before year end.
He, however, said that there are fundamentals that are to be met first before the currency is introduced. He said that these include improving production, minimising corruption and instilling confidence in the general populace. He assured further called upon the members of the public to withdraw from the panic mode as all fundamentals will be put in place before the new currency is introduced.
Another listener asked why Zimbabwe would not just adopt the Rand as the main currency, President Mnangagwa took the listener back to 2008 where the multicurrency system was proposed. He said that he was part of the 5 member delegation that was sent to South Africa to ask for South Africa government authority to use the Rand. He said that the prerequisites were not feasible given the Zimbabwean circumstances.
Resultantly, they settled with just creating legal frameworks which would allow multi currencies to be used as legal tender. He said the Rand is still in use under that arrangement.
More: <a href="https://www.facebook.com/capitalkfm/videos/685985258507800/?__xts__%5B0%5D=68.ARB2Wdj02k_v9QJlrHw-FqQqzI1b2BqnGxRvQze75g9I9VJru9t51pzEltan36hy93syjJoy-o7ZozayZf34rctli10klu7numGaD05iyZLrqZCBKHdan3Nxw6VZ8ZmqN8zA_Ji3UPWlzQIRT5Rj3Lr2xvh7iL4FAppnuD1JJy7R9sN4YOcsEEoysyS4Njxap_8ppeh5mdAsWmm9GN0Uq2nOIAt1_-VWYVuhPa1-ODG_1cRHeGpgl7uOEj9ERy1epc8VnjHhFnxdBXqbpPnZdgnI7RZ8jbf5LXqrRSSEB8Xfg5NbZYjn_ebyVPkPG6yfqzpwCz9vlsjudISplJmrprjZcwLyYTSyqsI&amp;__tn__=-R" rel="noopener noreferrer" target="_blank">Capitalk 100.4 FM</a>

ED: "The USD Will Not Be In Use When New Currency Is Introduced"

The South African Rand fell early on Thursday to its lowest in 2019. The drop is attributed to disputes within the ruling African National Congress over the central bank which is said to have weakened demand.
At 0800 GMT, the rand was 0.15% weaker at 14.8850 per dollar compared with an overnight close of 14.8600. It suddenly fell to a session low of 14.9625, its weakest since October, before settling near 14.80.
The currency is reported to have shed its value due to ANC intraparty disagreements over whether the central bank should do more to promote jobs and growth.
More: <a href="https://www.newsday.co.zw/2019/06/south-african-rand-falls-to-its-lowest-in-2019/" rel="noopener noreferrer" target="_blank">NewsDay</a>

South African Rand Loses Value

Reuters reports that the South African Rand has shed its value. This follows an upward trend in the United States manufacturing data wich resulted in demand for the dollar.
Statistics show that the Rand as at 0640 GMT, was at 0,35% weaker at 14, 2150% per dollar compared to a close of 14, 1650 overnight in New York.
The demise of the rand is a clear departure from a one week high hit after Moody’s Corporation delayed  a potential credit rating downgrade. After the decision that came late on Friday, the currency recovred more than 3% to its best level since March 21. The currency however came under selling pressure yesterday owing to traders who exited their positions. They had targetted levels above 14, 70 on the short-side.
Moreover, a rebound in the US factory activity and a strong increase in construction spending revived hopes on the US economy previously expected to slow sharply. This boosted the green back and treasury yields at the expense of the Rand.
Demand for the Rand was further diminished by another weak South African PMI print and the measure of factory activity recording a third consecutive decline in March.
<h3>Related:</h3>
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<h4><a href="https://news.pindula.co.zw/2019/02/11/zimbabwe-should-use-rand-biti/" rel="noopener" target="_blank">Zimbabwe Should Use Rand- Biti</a></h4>
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More:<a href="https://www.reuters.com/finance/currencies" rel="noopener" target="_blank"> Reuters.com</a>

Zimbabwe’s former Finance Minister Tendai Biti has urged the country to switch to the South African Rand.
He said using the Rand will enhance rregional integration and impose some fiscal discipline on the Zimbabwean economy. Said Biti:
<blockquote>The advantage of joining a rand monetary union would be that it would foist some much-needed discipline on the Zimbabwean economy. It would also enhance regional integration.</blockquote>
<hr/>
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<h3 class="entry-title"><a href="https://news.pindula.co.zw/2019/01/12/zimbabwe-to-introduce-own-currency-this-year-rand-or-us-dollar-not-solution-mthuli-ncube/" rel="bookmark">Zimbabwe To Introduce Own Currency This Year, Rand Or US Dollar Not Solution – Mthuli Ncube</a></h3>
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<h3 class="entry-title"><a href="https://news.pindula.co.zw/2019/02/11/new-zim-currency-to-be-intoduced-this-week-tendai-biti/" rel="bookmark">New Zim Currency To Be Intoduced This Week – Tendai Biti</a></h3>
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<hr/>
More: <a href="https://www.newzimbabwe.com/ex-finance-minister-biti-again-urges-rand-switch/">NewZimbabwe.com</a>

Zimbabwe Should Use Rand- Biti

Speaking during a public lecture organised by the Public Policy and Research Institute of Zimbabwe (PPRIZ) in Bulawayo last week Mr Dumisani Sibanda urged monetary authorities to adopt the South African rand to attract foreign direct investment.
He said most investors who come to Zimbabwe have headquarters in South Africa. Said Sibanda:
<blockquote>Investors who come into Southern Africa come through South Africa. There are very few clean investors who come directly to Zimbabwe or Botswana. This is probably why most of these companies have headquarters in SA. Zimbabwe has to work with South Africa to attract foreign direct investment. The financial capital city of South Africa is Johannesburg and if we move to adopt the rand we will be able as a country to attract foreign direct investment.</blockquote>
<hr/>
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<h3 class="entry-title"><a href="https://news.pindula.co.zw/2018/05/04/govt-should-pay-civil-servants-in-rand-business-should-peg-prices-in-rand-industry/" rel="bookmark">Govt Should Pay Civil Servants In Rand, Business Should Peg Prices In Rand: Industry</a></h3>
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<h3 class="entry-title"><a href="https://news.pindula.co.zw/2018/04/05/zim-should-adopt-the-south-africa-rand-now-to-stabilise-the-economy-minister-mukupe/" rel="bookmark">Zim Should Adopt The South Africa Rand To Stabilise The Economy: Minister Mukupe</a></h3>
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More: <a href="https://www.chronicle.co.zw/rand-answer-to-export-competitiveness/">Chronicle</a>

Zimbabwe Should Adopt Rand To Attract Investment

Formner Minister of Finance Tendai Biti has said that it is too late for Zimbabwe to adopt the South African Rand as the primary currency. This follows statements by the <a href="http://www.pindula.co.zw/news/2017/03/29/reserve-bank-urges-people-start-using-rand-instead-usd/" target="_blank">Reserve Bank of Zimbabwe that Zimbabweans should limit the use of the greenback and use the Rand instead.</a>
Biti said the country should focus on maintaining the multicurrency system and build reserves of at least $9 billion dollars. He also added that there was no Foreign Direct Investment, coming into Zimbabwe due to the government’s poor policies. He also warned that Zanu PF would “bastardise” the Rand.
Speaking on Twitter, Biti said:
<blockquote>Too late to adopt rand. Economy now in so much disequilibrium without reforms Zanu will bastardise the rand as they have the Zim$ &amp;the US$.”
. . . foreign direct investment (FDI) is not flowing into Zimbabwe because of toxic and predatory Zanu PF politics . . . remove Zanu PF and billions will pour into this economy”.
Let’s rebuild productive base and build reserves of at least $9 billion. We maintain regime of multi-currencies for now,</blockquote>
More: <a href="https://www.dailynews.co.zw/articles/2017/03/29/it-s-too-late-to-adopt-rand-biti">Daily News</a>

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