Chronicle Editor
IT is without doubt that the currency of a country holds a great deal of power in influencing economic growth and development. A country can only develop and grow its economy when it uses its own currency. This is because when a country uses its own currency, it has greater control over its monetary policy and can use it to influence economic activity.
It is quite unfortunate that some individuals, businesses and organisations want Zimbabwe to use the US dollar as our primary currency. What they choose to ignore is that this hinders economic development and also undermines national sovereignty, as a country that does not control its own currency is at the mercy of external monetary policies.
We, therefore, urge businesses, especially SMEs and informal traders, to embrace and support our new local currency, ZiG. To their credit, some big retail outlets have embraced ZiG. The success of ZiG is dependent on how it’s received by the public and businesses.
It is encouraging that most schools, including private ones, accepted school fees payment in ZiG for the second term, which started yesterday. This is a huge step in the right direction and it is time for everyone to embrace our local currency.
Adopting ZiG has numerous benefits for individuals, businesses and the country as a whole. For starters, the use of ZiG will help to stimulate economic growth and job creation.
When businesses are able to transact more efficiently, they are able to grow their operations, create more jobs and contribute to the overall economic growth of the country. Additionally, the use of ZiG will free up foreign currency reserves that can then be used to improve infrastructure and other development-related projects.
It will also help to reduce our dependence on foreign aid. This means that we can rely more on our own resources and develop more self-sufficiency.
Furthermore, the adoption of ZiG promotes national pride and identity because a currency also serves as a symbol of national sovereignty and pride. Using a foreign currency in place of a local currency undermines national identity and reinforces the notion that our country is not capable of managing its own affairs.
The sooner we accept ZiG for all forms of payment, the better for transactions, economic recovery and job creation. It is a bold step towards strengthening national sovereignty and promoting economic growth. We urge the government to use its powers to ensure that ZiG is accepted across the country, particularly for government transactions.
Campaigns to educate the public on the advantages of using ZiG should also be intensified. Let us all embrace ZiG and take pride in it as a symbol of national sovereignty and identity.
Online Reporter