RBZ to release $7 million in bond notes

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John Mangudya

The Reserve Bank of Zimbabwe (RBZ) will this week release a second tranche of bond notes worth $7 million, as it pushes ahead with the currency.

BY BUSINESS REPORTER

John Mangudya
John Mangudya

The release will be the second inside two weeks, following the introduction of bond notes worth $10 million last Monday.

In a statement yesterday, RBZ governor, John Mangudya said the bond would be in $2 denominations notes.

“In line with the strategy to release the bond notes on a measured or drip-feed basis, the bank would like to advise the public that it is releasing the second batch of $2 bond notes amounting to $7 million this week,” RBZ said.

“This brings the total amount of bond notes disbursed to $17 million against a value of $70 million payable to exporters of goods and services under the export incentive scheme.”

Mangudya said the $5 bond notes would be released into the market in due course.

“Going forward, the bank shall continue to publicise information on the release of bond notes into the market in order to uphold its commitment to transparency which is above reproach,” he said.

The bond notes are coming under a $200 million export incentive facility guaranteed by the African Export Import Bank to boost local industries and generate more export receipts.

However, they have failed to reduce queues in banking halls.

7 COMMENTS

  1. The Mangudya bond paper actually increased the queues at banks because most of the people are no longer banking the US$ because on withdrawal you will be given the useless bond paper. Go to banks, those long winding queues are of people withdrawing the US$, the ATMs with the bond paper are shunned only a few people withdraw them

  2. Muchiri kuwa pindza zvishoma nezvishoma chingoapindzai 1time mabond ayo chero 15bn inoita. l hate u mangudya u are a full of shit indeed abomnation

  3. Everyone is fighting at least to get a decent festive season. Saka mari dzakawhanda mudzimba. Watch 20 December mari will start circulating. Watch my space.

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