Business
Kuda Mnangagwa promises currency stabilisation
If I were to irresponsibly give unsolicited advice, I would urge Zimbabweans with their hard-earned ZWL not to hedge against it
Finance, Economic Development and Investment Promotion deputy minister Kudakwashe Mnangagwa has urged Zimbabweans to refrain from disposing of the Zimdollar.
He said that government was ensuring that there will be no loss of value through the introduction of the pending currency stabilisation measures.
“We have been receiving enquiries about the surge in the exchange rate, which right now can be attributed to the anxiety and anticipation of the upcoming Monetary Policy Statement which is around the corner. If I were to irresponsibly give unsolicited advice, I would urge Zimbabweans with their hard-earned ZWL not to hedge against it.” Mnangagwa posted on X.
Earlier on, Finance, Economic Development and Investment Promotion minister Mthuli Ncube had announced that President Emmerson Mnangagwa had appointed John Mushayavanhu as the governor of the Reserve Bank of Zimbabwe.
Appointed as RBZ governor in December, Mushayavanhu who replaced John Mangudya yesterday, was supposed to assume office on May 1 but had commenced his new role earlier.
Mnangagwa appointed Mushayavanhu as Mangudya’s successor in December.
A respected banker, Mushayavanhu was at the helm of FBC Holdings Limited until the end of December.