Your ZiG Obsession Disastrous, Former MP Warns Mnangagwa11 August 2025 Your ZiG Obsession Disastrous, Former MP Warns Mnangagwa By A Correspondent The Mnangagwa regime is once again playing with fire, this time by announcing a bold – some would say reckless – plan to phase out the US dollar by 2030 in favour of the untested Zimbabwe Gold (ZiG) According to the Reserve Bank of Zimbabwe (RBZ), the country will transition from the current multi-currency system to a domestic mono-currency “in an orderly manner.” The move will be anchored in the upcoming National Development Strategy 2 (NDS2), replacing the already underwhelming NDS1 RBZ Governor John Mushayavanhu insists the plan will “preserve foreign currency accounts and respect existing USD-denominated contracts,” but Zimbabweans have heard these promises before The memory of 2008’s hyperinflation and the government’s sudden seizure of US dollar bank balances in 2019 remains fresh While officials boast of “stability” since ZiG replaced the collapsing Zimbabwe dollar in April 2024, sceptics point out that ZiG still accounts for only a fraction of the money in circulation The overwhelming majority of transactions – especially in critical imports like fuel and medicines – are still priced in US dollars Foreign-currency depositors are particularly uneasy, with the RBZ’s own Mid-Term Review admitting that “stakeholders relayed concerns” about the fate of their savings post-2030 The absence of legally binding guarantees has only heightened suspicion that the government might be setting the stage for another raid on hard currency deposits Former Masvingo Central Constituency Member of Parliament Jeffryson Chitando criticized the government’s plan sharply: “The obsession with ZiG is reckless and risks repeating the disastrous mistakes of the past Zimbabweans cannot afford another currency collapse caused by political vanity and poor economic management.” The government’s framing of de-dollarisation as “national sovereignty” rings hollow for many Zimbabweans, who see it as a political vanity project detached from economic reality The 2030 deadline is being pushed as non-negotiable, yet the RBZ has offered no clear explanation of how it will maintain price stability, rebuild public trust, or ensure the new currency holds value beyond paper promises President Mnangagwa’s administration appears determined to push forward, regardless of the risks If history is any guide, ordinary citizens will be the ones left paying the price when political grandstanding collides with economic reality For now, the message from the regime is clear: the US dollar’s days are numbered The real question is whether Zimbabweans can trust their leaders not to repeat the catastrophic currency blunders of the past – or whether 2030 will be yet another year of shattered savings and broken promises Like this:LikeLoading All Zim News is a central hub for all things Zimbabwean, curating news from across the country so no story is missed Alongside aggregation, our team of nationwide reporters provides real-time, on-the-ground coverage Stay informed and connected — reach us at admin@allzimnews.com Source: ZimEye Source: Zimeye
